U.S. Department of Energy Announces $4.6m in 2024 INFUSE Public-Private Partnership Awards
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U.S. Department of Energy Announces $4.6m in 2024 INFUSE Public-Private Partnership Awards

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.

FIA Responds to U.S. Department of Energy RFI on Public-Private Consortium Framework
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FIA Responds to U.S. Department of Energy RFI on Public-Private Consortium Framework

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.

FIA Releases Letter to U.S. Treasury on Clean Energy Tax Credits Inclusion of Fusion 
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FIA Releases Letter to U.S. Treasury on Clean Energy Tax Credits Inclusion of Fusion 

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.

FIA Hosts Seminar Program for Interns
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FIA Hosts Seminar Program for Interns

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.

FIA Urges Greater Information Sharing in Letter to ITER Director-General Pietro Barabaschi
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FIA Urges Greater Information Sharing in Letter to ITER Director-General Pietro Barabaschi

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 Announces KRW 1.2 Trillion to Prioritize Fusion Commercialization
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South Korea Announces KRW 1.2 Trillion to Prioritize Fusion Commercialization

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.

FIA Responds to UK Consultation on National Policy Statement for Fusion Energy
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FIA Responds to UK Consultation on National Policy Statement for Fusion Energy

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.

New EU Commission Wants to Increase Investment for Cleantech and Further Promote Research and Innovation
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New EU Commission Wants to Increase Investment for Cleantech and Further Promote Research and Innovation

Ursula von der Leyen was re-elected as European Commission president after a speech in the European Parliament in Strasbourg presenting her political guidelines for the next five years. In her political priorities for the next EU 2024-2029 mandate, she emphasized the need to boost Europe’s competitiveness through massive investment.

FIA Launches 2024 Global Fusion Industry Report
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FIA Launches 2024 Global Fusion Industry Report

The fusion industry has now attracted over $7.1bn of investment, according to an annual report by the Fusion Industry Association (FIA), with over $900 million of new funds backing the technology since last year. As part of that, total public funding increased by 57% in the last 12 months to $426m, showing governments increasingly see public-private partnerships as central to making commercial fusion a reality.