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COMMERCIAL FUSION ENERGY
Lead $29 Million in First Financing
Type One Energy Group
Appoints Christofer Mowry as CEO
Read All the Details for this Stellarator Fusion Technology Capitalization of Type One Energy Group (click here)
March 28, 2023 (MADISON, Wisconsin) — Type One Energy announced today the close of an over-subscribed $29 million financing round. This effort launches the company’s ambitious, partner-rich and capital-efficient FusionDirect program to commercialize its stellarator fusion technology.
Breakthrough Energy Ventures (BEV), TDK Ventures and Doral Energy Tech Ventures co-led the round with additional cleantech investment from Darco, the Grantham Foundation, MILFAM, Orbia Ventures, Shorewind Capital, TRIREC, VAHOCA and others.
Become a Supplier Partner to the Fusion Energy Industry
On March 28, 2023 at 11am Eastern Standard Time, please join us for an informational webinar. During this webinar, you’ll learn about the challenge directly from representatives of UK Atomic Energy Authority, Commonwealth Fusion Systems, and TechConnect. Additionally, those representatives will answer your questions during a live Q&A session. REGISTER HERE
Sheared-Flow-Stabilized Z-Pinch, Simplifying Fusion Energy
A Bold New Look at a Long-Standing Technology
Q & A with Ryan Umstaddt
Vice President of Product
Also in the article:
Video Address from Scott Hsu, Senior Biden Administration Advisor on Fusion Energy about Z-Pinch fusion Energy
Zap Energy, near Seattle, Washington has further developed and improved the long-standing Z-Pinch fusion energy technology with shear-flow-stabilizing.
This may be the fastest most economical approach to commercial fusion
Read the complete article and watch additional video content
Bob Mumgaard of CFS
Claudio Descalzi of Eni
Commonwealth Fusion Systems and Eni Sign Strategic Framework Agreement
Devens, MA – March 9, 2023 — Commonwealth Fusion Systems (CFS) and Eni today signed a strategic framework agreement to advance the commercialization of fusion energy. This new multi-year collaboration establishes the terms under which a series of work projects now under development could include joint research, development, and deployment opportunities in the advancement of fusion energy and related technologies. This builds on the long-term cooperation between Eni and CFS which started with their early and significant investments in the company.
Warrick joins the company from Rolls-Royce where he enjoyed a 24-year career holding several leadership positions, most recently as Chief Procurement Officer for the Civil Aerospace division.
Tokamak Energy appoints Rolls-Royce leader Warrick Matthews as Managing Director and Chief Commercial Officer
Warrick will lead Tokamak Energy’s business towards its goal of demonstrating grid-ready fusion power by the early 2030s. His experience in global industrial partnerships and supply chain development will be invaluable in executing Tokamak Energy’s ambitious growth strategy.
Commonwealth Fusion Systems Opens Fusion Energy Campus on the Fastest Path to Bring Clean Fusion Energy to the World
Devens MA, Feb 10, 2023 Commonwealth Fusion Systems (CFS) officially opened its new campus to support the development and deployment of commercial fusion energy.
The ceremonial event today included visits from U.S. Secretary of Energy Jennifer M. Granholm, U.S. Senator Elizabeth Warren, U.S. Senator Edward Markey, U.S. Representative Lori Trahan, Massachusetts Lieutenant Governor Kim Driscoll, along with a host of state and local leaders.
Phase 1 development of the new campus, which broke ground 18 months ago, includes:
SPARC facility: SPARC is a compact tokamak fusion device that will produce fusion power at a level needed to design commercially viable power plants. SPARC is based on the previously demonstrated HTS technology and builds on decades of proven tokamak science. SPARC is predicted through peer reviewed papers and based on the same assumptions in large international projects to produce over 100 MW of fusion power at fusion gains of Q>10. The facility, under active construction, will be operational in 2025 and achieve net energy soon thereafter, demonstrating that the fusion plasmas can form the basis of a power source and pave the way for the first fusion power plant, ARC, that is expected to start feeding energy into the grid in the early 2030s.
Tokamak Energy’s compact spherical tokamak, ST80-HTS, will demonstrate multiple technologies required for the delivery of clean, sustainable fusion energy.
Tokamak Energy’s new advanced fusion prototype to be built at UKAEA’s Culham Campus - Tokamak Energy
Tokamak Energy's ST80-HTS, spherical tokamak design.
More information at: www.tokamakenergy.co.uk
Chris Kelsall, Tokamak Energy CEO, said: “Today’s exciting announcement is a major step forward on our mission to demonstrate grid-ready fusion energy by the early 2030s. Our next device, ST80-HTS, aims to validate key engineering solutions needed to make commercial fusion a reality and will showcase our world-class magnet technology at scale. It’s clear public and private partnerships of this nature will be a crucial catalyst for fusion to deliver global energy security and mitigate climate change.”
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Images, Info & Charts Credit: FIA/UKAEA
The Global Fusion Industry in 2021/2022
1. Funding for Fusion Companies
2. Companies by Location
3. Investors in Fusion
4. Target Markets for Global Fusion Companies
5. Average Employees by Role & Gender
6. Technical Approaches Taken for Fusion
7. When will Fusion 1st Power the Grid
8. When Will Fusion 1st Power Space Propulsion
9. Fusion Companies Founded in the Last 30 years
10. Number of Fusion Companies in Existence by Year
Further Acquisitions Position TAE Power Solutions in the Advanced Energy Storge & Power Distribution Markets
CEO Kedar Munipella & CCO Ben Russell
TAE Technologies spins off TAE Power Solutions appointing Kedar Munipella from Applied Materials. TAE Power Solutions has also acquired Sprint Power, specializing in transport electrification in Europe focusing on systems integration and high voltage driveline. TAE Power Solutions also acquired Eltrium who are designing and producing energy storage systems, power distribution and electronic assemblies. The spinoff and acquisitions provide entry into the APC18 Celeritas program for advanced battery systems with BMW and other project partners.
The launch of TAE Power Solutions is the latest in a list of significant milestones for TAE Technologies. In 2022, the company announced it had exceeded its fusion reactor performance goals and had closed a $250 million financing round from investors Google, Chevron, and Sumitomo Corporation, among others, bringing its total raised to date to $1.2 billion.
The Group Includes LowCarbon Capital, Positron Ventures and Norrsken
Renaissance Fusion Is currently working toward manufacturing development of fusion reactor components. Focused on liquid metal inner chamber walls for insulation, neutron fluency and cost reductions in their stellarator fusion reactor. They are also working to build and incorporate their own high temperature superconducting magnets (HTS). The goal of the HTS is to provide the same performance in a smaller reactor.
Tokamak Energy and Furukawa Electric Group Strengthen Relationship
to Progress Commercial Fusion Energy
HTS magnets are an essential enabler for the low cost, commercial operation and global deployment of spherical tokamak devices.
Tokamak Energy has signed an agreement with leading Japanese and United States companies to supply specialist high temperature superconducting (HTS) tape for its new advanced prototype fusion device, ST80-HTS.
Furukawa Electric Co., Ltd., Tokyo, Japan and SuperPower Inc, New York, USA of Furukawa Electric Group, are expected to deliver more than several hundred kilometres of tape to the Oxford-based company for the next phase of construction.
ST80-HTS will be the world’s first high field spherical tokamak using HTS magnets at scale and will utilise HTS tape developed and supplied by Furukawa Electric Group. This is a key stage in the path to Tokamak Energy’s fusion pilot plant which will demonstrate the capability to deliver clean electricity into the grid in the early 2030s, producing up to 200 MW of net electrical power.
General Fusion’s Fusion Energy Demonstration Receives Consent at UKAEA’s Culham Campus
South Oxfordshire District Council Planning Committee approves fusion energy project; construction to start this year
Following the resolution to grant planning permission by the South Oxfordshire District Council Planning Committee, construction of General Fusion’s demonstration at the United Kingdom Atomic Energy Authority’s (UKAEA) Culham Campus is expected to start this summer.
When construction of the 10,500m2 building is complete, General Fusion will lease the building from UKAEA. The company’s fusion machine is expected to be commissioned in 2026 and fully operational by early 2027.
Built to 70 per cent scale of a commercial power plant, the demonstration will create fusion conditions in a power plant-relevant environment, achieving temperatures of over 100 million degrees Celsius. This is a crucial step on the path to eventually powering homes, businesses and industry with zero-carbon fusion energy. The facility itself will not generate power.
All General Fusion Videos at https://www.youtube.com/@GeneralFusionInc
This Q & A with General Fusion (GF) provides considerable detail for their timeline to fusion power. Unlike other planned fusion demonstrations, GF's uses an approach to fusion that translates to a commercial plant without requiring additional scientific or materials breakthroughs
A Top Contender for First to Fusion
Q & A with General Fusion
MAGNETIC TARGET FUSION
You’ve committed to an ambitious set of milestones with plans to break ground in the UK in 2023 and to have an operating facility by 2027. Are these plans realistic given the first-of-a-kind technology that you committed to for your design?
We’ve already proven our core technologies with large test beds and prototypes in our labs. The performance of these large-scale prototypes, combined with advanced modelling and simulation, give us confidence in the expected performance of our fusion demonstration and our timeline, which includes commissioning the integrated fusion machine by the end of 2026 and achieving expected performance in 2027.
FENi has verified this report as being true and correct by: Matt Miles, Vice President of Business Development and International Government Relations at General Fusion
Bob Mumgaard CEO, Provides the CFS Commercial Fusion Path & Timeframe to the NRC During His Presentation on Fusion Energy Regulation
The new CFS "SPARC" net fusion energy & (HTS) superconducting magnet facility, provided his schedule for reaching the critical point of FUSION GAIN
General Fusion Forges Ahead on its Unique Magnetized Target Fusion Technology with the Fabrication of an At-Scale Fusion Vessel Trial Ring
Construction of General Fusion’s demonstration machine, which is being built at the UK Atomic Energy Agency’s Culham Campus, advanced significantly with the fabrication of an at-scale fusion vessel trial ring by Sheffield Forgemasters.
Announces Plans for Fusion Pilot Plant
Innovative concept leverages decades of expertise in
fusion research and development
McKinsey & Co Provides an Excellent
"State of Fusion" in This Article
Miklós Dietz is a senior partner in McKinsey’s Vancouver office
Bill Lacivita is a partner in the Atlanta office
Amélie Lefebvre is a consultant in the Montréal office, and
Geoff Olynyk is a senior expert in the Toronto office.
Edited by Andrew Simon, a senior editor in the Seattle office.