The U.S. Senate Committee on Energy & Natural Resources will host a hearing on fusion energy technology development and commercialization efforts on Thursday, September 19, 2024, at 10:00 a.m. in Room 366 of the Dirksen Senate Office Building in Washington, DC.
On September 9, former Italian Prime Minister and ex-President of the European Central Bank (ECB), Mario Draghi, released the much-anticipated report on the future of European competitiveness. Tasked by the European Commission to draft this report, Draghi provides concrete recommendations to address the EU’s declining growth and boost its global competitiveness. The report fits into Von der Leyen’s broader agenda to modernize the EU economy, promote strategic autonomy, and enhance its industrial resilience against global pressures.
Fusion is one of the most potentially beneficial and technologically challenging industries in the world. The realization of a commercially viable fusion power plant demands the integration of some of the most cutting-edge technologies available today. Among these, digital technologies — such as artificial intelligence — are revolutionizing industries globally, and the fusion industry is no exception.
On August 8, the U.S. Department of Energy awarded $4.6 million in 17 public-private partnership awards through the Innovation Network for Fusion Energy (INFUSE) program, further driving fusion acceleration by collaboration between industry, national labs, and universities.
As fusion technology transitions from the lab to commercialization, the Fusion Industry Association (FIA) firmly believes in the acceleration that comes with thoughtful private and public sector collaboration. The U.S. Department of Energy’s recent Request for Information (RFI) on the Fusion Energy Public-Private Consortium Framework (PPCF) presents an opportunity to bridge the science and technology gaps crucial for achieving commercial fusion power.
On August 1st, the Fusion Industry Association (FIA) submitted a letter commenting on the Internal Revenue Service’s (IRS) forthcoming guidance on Certain Energy Generation Incentives (Notice 2022-49) as enacted in the Inflation Reduction Act of 2022. This letter represents the consensus view of the FIA that the inclusion of fusion in the § 45Y and § 48E credits would provide critical incentives and certainty as fusion moves to commercialization.
This summer, the FIA hosted its first-ever summer seminar series, open to interns of all FIA member and affiliate companies. This series aims to expand awareness of fusion development at the policy and industry levels, allowing interns to engage with leaders at the forefront of fusion policy, regulations, investment, and industry. The series is part of a broader FIA effort to grow a diverse and well-prepared workforce.
Since its inception, ITER has been a marker for global scientific collaboration through fusion energy. The process of building and designing ITER has helped train generations of scientists, engineers, and specialists worldwide in cross-cutting fields enabling fusion science. The organization’s impact on showing the fusion ecosystem that it can build big things is important. Today, however, a new momentum is building – within and around the private fusion industry. Over $7 billion has now been invested in private fusion companies. Public-private partnerships are moving ahead, national strategies are launching, international partnerships are forming, regulatory activity is advancing. ITER’s role should evolve in this new fusion energy economy.
South Korea announced a government project worth KRW 1.2 trillion with the goal of harnessing fusion power. This new initiative, separate from K-STAR and South Korea’s ITER contributions, will focus on ensuring a private sector led fusion ecosystem in the country. The announcement was made on July 22 during a National Nuclear Fusion Committee meeting, chaired by Minister Lee Jong Ho of the Ministry of Science and ICT.
As developers move closer to commercial fusion it is increasingly necessary to consider the wide array of enablers required to bring fusion power to the grid. The UK government’s consultation on proposed National Policy Statement EN8, ‘Fusion Energy’ is an important step forward for fusion development in the country. Not only will the policy help ensure a smooth and transparent assessment of future project proposals, it also signals – to developers, investors and consumers – that the UK government is today adopting measures to see fusion energy facilities come online.