On March 12, the Energy Subcommittee of the House Science, Space, and Technology Committee held a Congressional hearing on “Bridging the Valley of Death: ARPA-E’s Role in Developing Breakthrough Technologies”. The U.S. Department of Energy’s Advanced Research Projects Agency (ARPA-E) program has helped accelerate the development of a multitude of breakthrough technologies, including fusion energy.
The U.S. government will increase funding for fusion energy research to $790 million for the Department of Energy’s Office of Fusion Energy Sciences.
With $42 million, Lawrence Livermore National Laboratory, Colorado State University and the University of Rochester will work on studies to tap into a bountiful energy source.
A bipartisan letter signed by 72 Members of Congress, requesting increased funding into the commercialization of fusion energy, was sent to the House Appropriations Committee on October 31.
On October 13, Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT) announced the first round of federal funding to fusion firms, following Japan’s launch of a national strategy geared towards fusion acceleration earlier in the year.
On September 27, the German parliament held a public hearing on “Strengthening fusion research at a world-class level” in Berlin, with participation by Germany-based FIA members Focused Energy and Proxima Fusion. The hearing signifies another step in accelerating fusion commercialization in Germany.
On June 30, Senator Maria Cantwell, Chair of the Senate Committee on Commerce, Science, and Transportation, sent a letter to Secretary Gina Raimondo, US Department of Commerce, on the importance of power semiconductors being included in the CHIPS for America Fund, based on the need for the growing fusion industry.
On June 13, alongside representatives from the U.S. Department of Energy, Helion Energy, US ITER Project Office, and General Atomics, FIA CEO Andrew Holland testified at a Congressional hearing on “From Theory to Reality: The Limitless Potential of Fusion Energy“, hosted by the Energy Subcommittee of the House Committee on Science, Space, and Technology. A main theme from the hearing: the general consensus to increase support for accelerated fusion commercialization, a feat that will unlock “limitless potential” for energy, climate, and economic benefits.
In a notice released on May 31, 2023, the U.S. Department of the Treasury and the Internal Revenue Service (IRS) provided further technical guidance on the application process for the Qualifying Advanced Energy Project Credit (Section 48C of the Internal Revenue Code). The first round of the expanded 48C tax credit program will strengthen the supply chains for fusion-related technologies to address remaining challenges for fusion commercialization, such as the manufacturing of superconducting magnets, plasma-facing components, and diagnostics.
On May 31, 2023, the United States Department of Energy announced the first round of awardees of the milestone-based public private partnership program. Congratulations to the awardees, all FIA members: Commonwealth Fusion Systems, Focused Energy, Princeton Stellarators, Realta Fusion, Tokamak Energy, Type One Energy Group, Xcimer Energy, and Zap Energy.