One day we will be able to tame the power of the stars. And perhaps not in the distant future, but in the next decade, that of the 30s. Fusion energy, once the domain of dreamers and visionaries, is quickly becoming the new frontier of the global energy industry.
With billions of dollars, Euros and Renminbis invested and technological advances that defy the imagination, the question is no longer “if”, but “when”. Let's take a walk in the current situation, while "too complex" has become "possible" and is becoming "almost achieved".
An international dream that becomes reality
For decades, fusion energy has been the pipe dream of clean energy around the world. Now, thanks to unprecedented technological advances, this dream is becoming tangible. Phil Larochelle, founding partner of Breakthrough Energy Ventures, compares the current state of fusion to the space program of the 60s: a global challenge requiring international collaboration.
Any recent “milestones” on a global scale? Between lights and shadows, recent years have seen significant achievements in different parts of the world:
- In the USA, the National Ignition Facility at Lawrence Livermore National Lab has long since passed the energy break-even point.
- In Europe the project ITER, despite the setbacks, continues to make progress (albeit slowly, it must be said) towards its goal of large-scale fusion.
- In China, the EAST (Experimental Advanced Superconducting Tokamak) established new records for plasma duration.
We hope to see a breakeven moment from private companies in the next two to three years, by around 2028, followed by a commercial reactor in the mid-30s.
Julien Barber, an investor at Emerson Collective, which has invested in two fusion companies: CFS and Xcimer Energy.
The global startup ecosystem
Merger enthusiasm has catalyzed a startup boom around the world. Over 60% of all private companies pursuing fusion energy were founded from 2019 onwards, with innovation hubs emerging not only in the United States, but also in Europe and Asia.
Different approaches for a common goal: Companies around the world are pursuing different technological paths. Which?
- In the USA, CFS uses magnetic confinement fusion.
- In Europe, Renaissance Fusion is developing innovative technologies for superconducting magnets.
- In Japan, Kyoto Fusioneering is working on crucial components for fusion reactors.
The point of convergence between these different experiences? The massive use of supercomputers for enormous and complex calculations: Despite geopolitical tensions, research centers in Europe, the United States and Asia are collaborating to accurately model fusion processes.
Fusion energy could also have a significant impact in developing countries. Organizations like the IAEA are working to ensure that this technology can benefit all nations, not just the most technologically advanced ones.
From science to economics: fusion energy is a global challenge
Now that the scientific feasibility of fusion energy has been demonstrated in various laboratories around the world, the challenge shifts to the economic aspect. The next crucial step will be to demonstrate that fusion energy it can be produced economically competitively on a global scale. And here, it follows, we cannot leave everything to private initiative.
While in the USA government funding represented “only” (so to speak) 6% of the sector's total, other countries are taking different approaches:
- The European Union has launched EUROfusion, a consortium of 30 research organizations that already has 1 billion euros on its plate until 2025.
- The UK announced ambitious plans (the STEP project) to build a prototype fusion power plant at West Burton, Nottinghamshire, by the end of the 30s.
- China ha launched a national fusion consortium, China Fusion Energy Inc., which condenses its extreme determination to dominate this emerging technology.
The journey to commercial fusion energy is not without its challenges. But for the first time in history, it appears that the dream of having “pocket stars” to power our world could be realized in a matter of years, not decades. The future of energy is bright, and it could be powered by the same force that makes the stars shine.
