Congressional Hearing on Fusion Energy Shows Bipartisan Support For Accelerating Commercialization Efforts
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Congressional Hearing on Fusion Energy Shows Bipartisan Support For Accelerating Commercialization Efforts

ByCaroline

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.

US Expands the Qualifying Advanced Energy Project Credit to Accelerate Clean Energy Technologies
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US Expands the Qualifying Advanced Energy Project Credit to Accelerate Clean Energy Technologies

ByCaroline

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.

Department of Energy Announces Milestone Public-Private Partnership Awards
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Department of Energy Announces Milestone Public-Private Partnership Awards

ByAndrew

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.

President’s Budget Requests Over $1 billion for Fusion Energy Funding

President’s Budget Requests Over $1 billion for Fusion Energy Funding

ByAndrew

On Thursday, March 9, the White House released their budget request for the 2024 fiscal year, set to begin in October. Within the budget is record funding of over $1 billion for fusion energy research in the Department of Energy Office of Fusion Energy Sciences. The FIA is pleased that the Biden Administration has recognized…