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.
The announcement was made by Korea’s Ministry of Science and ICT as part of its new plan to design and develop a fusion machine distinguished from the ongoing Kstar — the Korea Superconducting Tokamak Advanced Research — project and the International Thermonuclear Experimental Reactor (ITER) project.
Confidence in fusion power is growing, says global association in latest annual report. Public investment in private companies rose by 50%-plus.
The FIA’s Global Fusion Industry in 2024 report launched on July 17 and reported advancements and increased investments in fusion companies worldwide. The report’s findings have gained the attention of the media, with growing interest in the progress of fusion energy technology.
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.
A fusion experiment at the University of Wisconsin-Madison has set a record for the strongest steady magnetic field confining a plasma, ushering in new hope that forthcoming demonstration machines will deliver on their promises to produce more power than they consume.
The fusion industry last year pulled in more than $900 million of private and public funding in the quest to produce power by smashing atoms together. That brings the total sum invested in the sector to more than $7.1 billion, according to a report out Wednesday from the Fusion Industry Association.
Fusion companies are seeing significant growth, despite steep technical hurdles to overcome before this technology can deliver energy at scale, a new report finds.
