The global fusion industry in 2022

There is growing excitement about fusion energy as an option to contribute to the world’s low-carbon energy supply.  Increasing numbers of private companies are aiming to deliver commercial fusion and are producing significant breakthroughs in the science and technology that will lead to a commercial power plant. 

 

This survey from the Fusion Industry Association provides a snapshot of the state of the growing fusion industry in 2022. The completion of the survey was supported by Trinomics, as part of a European Commission-funded study on fusion energy development worldwide. The report will continue to be updated annually, and is an updated version of the 2021 report

 

At the time of publishing, 29 of the 33 companies featured are members of the Fusion Industry Association.

 

Declared Funding

In the survey, declared private funding surpasses $4.7bn, plus an additional $117 million+ in grants and other funding from governments, taking the total to over $4.8bn. This is a 139% increase in funding since the 2021 version of this report.

Targeting electricity production in the 2030s

The survey found that 93%, up from the 83% reported last year, of companies believe that fusion electricity will be on the grid in the 2030s or before, an achievable target for the commercialization of fusion as a clean energy technology.

84% think a fusion plant will demonstrate a low enough cost and high enough efficiency to be considered commercially viable in the same timeframe.

About the Fusion Industry Association

The Fusion Industry Association (FIA) is the unified voice of the fusion industry, working to transform the energy system with commercially viable fusion power.  Founded as an initiative in 2018, the FIA has already made its mark in Washington and around the world.  As it expands, the FIA will support the creation of a new industry that will change the world.

 

The FIA is a collaborative effort, combining scientific, political, government, and media expertise to support its member companies.

Membership classes include full members building commercial fusion power; affiliate memberships for the companies, NGOs, and consultants wanting to build the global fusion energy economy; university and laboratory partnerships with the publicly-supported researchers; and energy industry memberships for the incumbent industries working to build the fusion future.