UK Government Commits Over £2.5 Billion to Fusion Energy Amidst Global Race to Deployment
FIA welcomes British Government’s long term commitment to transformational clean energy
The Fusion Industry Association (FIA), the global trade association for private fusion companies, today welcomed the UK Government’s commitment to spend over £2.5Bn on Fusion Energy across five years.
FIA Chief Executive Officer Andrew Holland said: “Fusion is a near-term economic opportunity for the UK, worth billions per year in economic activity and is an area in which the UK has a renowned global lead. It’s great to see the Government continuing to support growth in the sector.
He continued: “Fusion is coming; the days of scientific ‘if’ are gone. It’s now about how rapidly companies can commercialize the technologies they focus on, and how rapidly governments can drive support to create the market conditions to enable success.”
“Looking around the world, those governments who stimulate their national capabilities stand to benefit disproportionately in terms of supply chain and economic growth. The UK has a lead here, with its world leading regulatory arrangements, supply chain, national lab, and a clear commitment to building a pilot plant – STEP – in partnership with private industry.”
A sustained and sufficient increase in public spending can catalyse ongoing growth in private activity. Indeed, in the last year fusion companies spent over 300 million GBP on their supply chain – direct economic activity and jobs of today well before the first pilot plants are built. The UK stands to reap a significant reward if it can simultaneously support British companies, and attract the world’s leading private fusion firms to develop and demonstrate their products in the UK.
Fusion energy is clean, safe, affordable and sustainable energy, and when deployed, will transform the global energy landscape – offering security of supply to those who develop it, and potentially turning the tide on global climate change.
The UK has a long and proud history in fusion, as operator of the world’s largest fusion campaign so far – JET, in Oxfordshire – and is pursuing a diverse array of programmes through UKAEA and UKIFS to stimulate private sector growth.
About the Fusion Industry Association (FIA):
The FIA is the leading voice of the global fusion industry and a central point for coordination across the fusion community to support accelerated growth.
For further information, please contact:
Tristam Denton
UK Director
Fusion Industry Association
Caroline Anderson
Head of Public Affairs and Communications
Fusion Industry Association
