The Fusion Industry Association said more than 93 percent of companies that responded to its survey believe that fusion power will be feeding electricity into power grids by the 2030s.
First Light Fusion raised $45m (£33m) in February from investors including Chinese technology giant Tencent – bringing outside backing for the venture to $107m.
The Fusion Industry Association revealed eight new companies have entered the race for fusion over the past twelve months – reflecting renewed optimism in the energy source.
The UK Government backs the technology, with the UK Atomic Energy Authority working on plans for a prototype fusion power plant in the UK.
The Fusion Industry Association said more than 93 percent of companies that responded to its survey believe that fusion power will be feeding electricity into power grids by the 2030s.
If they solved the problem of practical fusion power this afternoon, I very much doubt there would be any commercial power that soon. As for US or European implementation, it takes time to go through all the approval gauntlets… and I wouldn’t be surprised to see all sorts of opposition due to the radioactive byproducts… reduced though they may be.
Rob
Former RB and BL Home Fool, Supernova Portfolio Contributor & Maintenance Fool
He is no fool who gives what he cannot keep to gain what he cannot lose.
If they solved the problem of practical fusion power this afternoon, I very much doubt there would be any commercial power that soon. As for US or European implementation, it takes time to go through all the approval gauntlets… and I wouldn’t be surprised to see all sorts of opposition due to the radioactive byproducts… reduced though they may be.
On the other hand, the EU and certain Asian countries are now eyes wide open at what the madman Putin threatens. Toss in this past week’s heat wave, and now weaning countries off cheap Russian energy places a blasting cap of innovation under the arses of importers of that older, cheaper energy. Japan - and now Germany - are not only reconditioning remaining nuclear plants, but talking about building new ones.
If the UK can give us a cheaper fusion fix, it’s going to turn over the tables off many vested energy providers the world over. Including nuclear energy plants.
I bet we have nuclear fusion on a grid somewhere before Musk ever lands a man on Mars.
Nuclear fusion has attracted more than $2.8 billion in new investment over the past year.