Today’s Fusion Industry Association global #fusion industry report highlights the “significant shift” in government policies and increased investment around the world, with public funding increasing by over 50%. It also highlights the growth of a skilled #fusionenergy workforce supporting our industry. Tokamak Energy is listed in the report as a world leader in two transformative technologies, the compact spherical tokamak and High Temperature Superconductor (HTS) magnets, and one of the select companies to have raised more than $200m on the path to commercialising clean, secure and affordable fusion energy. #FusionForAll #CleanEnergy #EnergySecurity
New global fusion industry report out now! Today we launch our 2024 report, giving an updated snapshot of where the private fusion industry stands. The global fusion industry has now attracted over $7.1bn of investment, with over $900m of new funds backing the technology since last year. Total public funding increased by 57% in the last 12 months to $426m, showing governments increasingly see public-private partnerships as central to making commercial fusion a reality. Companies remain steadfast in their projected timelines for producing fusion-generated electricity in the 2030s, with 89% of the companies responding to the survey anticipating that fusion will provide electricity to the grid by the end of 2030s, and 70% of the companies saying that milestone will happen by the end of 2035. Over 4,000 people around the world are now employed at private fusion companies. However, there are still major challenges to overcome and, between 2025 and 2030, two-thirds of respondents believe power efficiency will be a major challenge, while the same proportion (66%) believe funding will be a barrier to success. Read the full report to gain further insight into today’s global fusion industry and profiles of the developers. About the Report This is the fourth annual “Global Fusion Industry Report” from the Fusion Industry Association. Responses are based on answers to a survey issued to private fusion companies. This survey should be seen as a snapshot in time; a view of the industry when the survey was conducted in the second quarter of 2024. Repeating the activity year-on-year enables us to see the picture evolving. https://lnkd.in/ehrCBjPM #FusionEnergy #FusionIndustry