New Jersey has announced a $49 million investment to launch HAX Plasma Forge, a new strategic innovation center focused on commercializing plasma research. The facility will be developed in partnership by New Jersey Economic Development Authority (NJEDA), SOSV, and Princeton Plasma Physics Laboratory (PPPL).
On May 14th, the Fusion Industry Association (FIA) sent a letter to Congress addressing the current draft of reconciliation legislation passed by the House Ways and Means Committee. The legislation overlooks a critical opportunity to support American innovation and energy security by advancing the growth of fusion energy as a source of safe, secure, and abundant energy. Congress could slow the deployment of fusion in the U.S. if they choose to sunset the Inflation Reduction Act’s (IRA) technology-neutral investment tax credit (48E) and production tax credit (45Y), continue to exclude fusion components from the advanced manufacturing production credits (45X) of the Internal Revenue Code, and end the transferability of these credits. The letter emphasizes the importance of maintaining the credits to secure fusion deployment in the U.S., ensuring innovation and energy leadership.
“At a time when Washington is focused on budget cuts and government downsizing, one investment remains non-negotiable for America’s future: fusion energy.” Dr. Suresh Garimella, president of the University of Arizona, and Dr. Tomás Díaz de la Rubia, senior vice president for research and innovation, urge fusion prioritization in an op-ed for The Hill.
On March 26th, the Fusion Industry Association (FIA) sent a letter to Dr. Kung, Acting Director of the Office of Science and Deputy Director for Science Programs at the U.S. Department of Energy, urging the prioritization of commercializing fusion energy in the United States in the FY25 budget.
On March 11, the Fusion Industry Association (FIA) sent a letter to Congress urging expansion of the advanced manufacturing production credit under § 45X of the Internal Revenue Code beyond renewables to include fusion energy technologies. As the U.S. faces surging energy demands driven by advancements in artificial intelligence, data centers, digital infrastructure and robust industrial and manufacturing growth, it is imperative that Congress invests in innovative, reliable, next-generation energy solutions like fusion. Supporting the domestic fusion energy supply chain will make sure that technology invented in America will be built in America.
The United States must expedite its development of fusion energy or risk falling behind China on energy dominance, said Virginia Governor Glenn Youngkin at the CERAWeek energy conference in Houston.
On February 27, the Fusion Industry Association, Embassy of Japan, and Japan Fusion Energy Council (J-Fusion) hosted the event “Fusion Nexus: Advancing Japan-US Partnership.” The event followed the FIA’s two-day Annual Policy Conference, a space for leaders in government, industry, science, and academia to come together and discuss ways to accelerate the path to fusion commercialization.
On Wednesday afternoon at the FIA Annual Policy Conference, the bipartisan U.S. House Fusion Energy Caucus co-chairs reaffirmed their commitment to accelerating commercial fusion deployment. Reps. Chuck Fleischmann (R-TN), Don Beyer (D-VA), Jay Obernolte (R-CA), and Lori Trahan (D-MA) lead the Caucus, which works to further advance government activity in support of developing fusion power in the US.
The hearing to consider the nomination of Chris Wright to be Secretary of Energy happened on Wednesday, January 15th, in the U.S. Senate. Wright is President-elect Donald Trump’s pick to be Secretary of Energy, and would lead the Department of Energy (DOE) if sworn in. Wright is the CEO of Liberty Energy, an oilfield services firm, and studied fusion energy at MIT. He brings both an engineering and entrepreneurial background to the position.
Asia Times interviews FIA CEO Andrew Holland on US-China race to commercial fusion power.