Nuclear fusion is the energy process that powers stars, with a low radiation and tremendous energy output.
The White House held a summit yesterday on fusion, which could someday become a major source of carbon-free energy. Fusion is made by pressing atoms together to create heavier ones.
The latest $1.5 trillion appropriations bill from Congress included $45 million for a new fusion program in which private companies will partner with DOE to build new fusion energy devices. It’s part of a record investment in fusion that will send more than $700 million to DOE’s Fusion Energy Sciences program.
“We need firm energy resources, ones that you can turn on when the wind doesn’t blow and the sun doesn’t shine,” said Steven Cowley, director of the Princeton Plasma Physics Library. Fusion energy “is exciting, and it will solve climate change,” said Carly Anderson, a partner at Prime Movers Lab. “But we’re here because there is a business opportunity here to really create the economy of the 21st century, and we want to be part of it.”
“This is one of the few industries where you can build really megalithic companies,” Kantor added. That potential upside and the growing pool of investment dollars have “really translated to venture capital being willing to put money behind this stuff,” she said.
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