$46 Billion from Department of Energy for New Fusion...
The Department of Energy (DOE) has allocated $46 million to eight companies working on the development of nuclear fusion power plants. Fusion power has long been pursued as a clean energy solution, and after a significant breakthrough in December, the Biden administration aims to achieve a pilot-scale demonstration of fusion within a decade.
The funding represents a significant investment in what is considered the "Holy Grail" of clean energy. Nuclear fusion mimics the energy generation process of stars and offers carbon-free electricity generation without the radioactive waste associated with nuclear fission.
The DOE has chosen eight companies from seven states to receive funding over 18 months. Their goal is to design a fusion pilot plant within five to 10 years. This initiative follows a public-private partnership model similar to NASA's program that supported the commercial space industry.
While some researchers are optimistic about the proposed timeline, many experts believe it will take several more decades before practical fusion power plants become a reality.
The achievement of a net energy gain in fusion, accomplished by scientists at Lawrence Livermore National Laboratory in December 2022, was a significant milestone. This breakthrough demonstrated that fusion can be a viable source of clean energy and justified accelerating efforts toward the engineering development of a fusion pilot plant.
The companies selected by the DOE will need to demonstrate their technology's ability to achieve a net energy gain and sustain a fusion reaction long enough to generate a useful amount of electricity. Successful demonstration at the pilot scale will pave the way for designing commercial-scale reactors and establishing a fusion fuel supply chain.
The DOE has chosen a diverse range of technologies to support, including advanced techniques using a device called a tokamak and other less mature technologies. The awardees will need to meet agreed-upon milestones to receive reimbursement over the initial 18-month funding period. Additional federal funding may be available in the next five years, subject to congressional budget approval.
Competition among fusion startups is intense, with over 30 companies in the field, most of which were founded in the US over the past decade. Despite ambitious timelines set by some companies, such as Helion, which aims to develop a fusion power plant by 2028, fusion power's readiness to contribute to climate change mitigation remains uncertain. The US has committed to reducing greenhouse gas emissions by half this decade, but fusion power plants are unlikely to be ready in time, while affordable renewable energy sources are available for deployment today.