Rush for fusion!
The Fusion Industry Association conducted a survey of nuclear fusion players around the world in 2022. A great report full to the brim with details which I highly recommend you to look into: Link to report.
We discover here that an increasing number of private companies are aiming to deliver commercial fusion and are producing significant breakthroughs in the science and technology that will lead to a commercial power plant.
The state of play of the nuclear fusion ecosystem in the world shows that the 33 private players mentioned attracted $ 2.8 billion in private investment in 2022 alone, bringing the total fund to $ 4.7 billion. An increase of 139% compared to 2021. In addition, there is also $117 million in grants and state aid, bringing the total to nearly $5 billion.
For comparison, price of construction and operations of the ITER international public funded project alone is projected to be from €18 to €22 billion. Interestingly, 2035 is here planned as the start of deuterium–tritium operation for ITER (Commissioning should start in 2025).
The landscape is here dominated by Anglo-Saxon companies. Out of 33 companies surveyed, 21 are American and 3 British, 1 Canadian and 1 Australian. Within these 33 companies, 93% of experts believe that fusion electricity will be on the grid in the 2030s or before, and consider this an achievable target for the commercialisation of fusion as a clean energy technology.
Food for thought!