Fusion Energy Report 2024: From Hardware to Funding

The year 2024 has been a transformative one for the fusion energy industry. Across the globe, significant strides have been made in scientific breakthroughs, infrastructure development, public and private funding, and supportive policy frameworks. Once seen as a distant dream, the promise of clean, virtually limitless fusion energy is now closer than ever. From achieving net energy positive reactions to launching world-scale power plants, the milestones reached this year demonstrate the collective determination of governments, private enterprises, and researchers to revolutionize the global energy landscape.

This report captures the most impactful developments of the year, providing insights into the scientific advancements, investments, and collaborations shaping the future of fusion energy.

Breakthroughs in Fusion Science and Technology

1. National Ignition Facility (NIF) highlights the details of its second net energy gain experiment

In February 2024, the National Ignition Facility (NIF) at Lawrence Livermore National Laboratory highlighted the details of its second net energy gain experiment using inertial confinement fusion (ICF) in an article published in Physical Review Letters. This experiment, which took place earlier, showcased refinements in target designs and laser pulse shaping, leading to more consistent fusion yields. Source (National Ignition Facility & Photon Science)

2. China’s Energy Singularity Achieves Net Energy Positive Fusion Reaction

China’s Energy Singularity laboratory achieved the world’s first net energy positive fusion reaction, marking a historic milestone where the energy output exceeded input. The facility used advanced magnetic confinement technology and tritium-deuterium fuel, optimizing plasma stability and temperature to surpass the break-even point. This achievement validates decades of research and sets a new global benchmark for fusion energy commercialization. (BNE IntelliNews)

3. Record Plasma Duration at CEA’s WEST Reactor (France)

At the WEST tokamak reactor, the French Alternative Energies and Atomic Energy Commission (CEA) sustained plasma at 50 million degrees Celsius for over six minutes. Tungsten-based divertors played a critical role in handling the extreme heat, demonstrating the potential for longer plasma confinement durations in future reactors. This milestone supports ITER and other next-gen reactor designs. (PPL News)

4. Japan’s FAST Project Aims for Unlimited Energy by 2030

Japan’s Fusion by Advanced Superconducting Tokamak (FAST) initiative is pushing boundaries by targeting clean energy production of up to 100 megawatts through sustainable deuterium-tritium fusion by 2030. This international effort leverages advanced superconducting magnets and plasma heating technologies, aiming to become a flagship for grid-scale fusion energy. (Inside Japan’s FAST Project)

5. AI Applications in Fusion Control

Princeton University announced a breakthrough in using deep reinforcement learning to control plasma stability in fusion reactors. This technology significantly reduces the risk of plasma disruptions, a critical advancement for the operational reliability of future reactors. (Princeton Engineering)

6. Nuclear Fusion Record in the UK

Scientists at the UK’s Joint European Torus (JET) set a new record for fusion energy production, achieving 69 megajoules of fusion energy. Although JET’s experiments concluded, the data collected is invaluable for future fusion projects like ITER. (EuroFusion)

7. Advanced Material Research for Reactor Walls

Researchers in South Korea and the EU reported breakthroughs in tungsten-lithium alloys and other composite materials designed to withstand extreme plasma conditions. These materials show promise in reducing erosion and tritium retention, impacting reactor maintenance and operational costs positively. (Nature)

8. European Exascale Computing for Plasma Simulations

Leveraging new exascale supercomputers, a coalition of European labs (led by the Max Planck Institute for Plasma Physics) demonstrated more precise plasma modeling, cutting the time needed for large-scale fusion simulations by nearly half. This speeds up reactor design optimizations and reduces the need for expensive physical experiments. (EuroFusion)

9. Laser Mégajoule Progress in France

In parallel to NIF’s work, France’s Laser Mégajoule (LMJ) made strides in laser-driven fusion by successfully testing novel target capsules, aiming to replicate NIF’s success in a European setting. The findings will refine ICF designs for both civilian and defense applications.

Partnerships and Projects

10. General Fusion and Kyoto Fusioneering Partnership

General Fusion partnered with Kyoto Fusioneering to advance critical Magnetized Target Fusion (MTF) systems, focusing on tritium fuel cycles and power conversion. This collaboration strengthens pathways to commercial-scale deployment of fusion reactors. (General Fusion News)

UK Nuclear Fusion Start-Up Assists US in Developing Stealth Submarines

Tokamak Energy joined a DARPA program to apply its expertise in high-temperature superconducting (HTS) magnets for silent marine propulsion systems. This partnership showcases how fusion technology can extend beyond energy production into defense applications. (Finantial Time)

ENN’s Proton-Boron Fusion Roadmap

ENN Science and Technology completed the EXL-50U spherical torus device and achieved its first plasma in January 2024. The company’s next-generation reactor, EHL-2, is set for completion by 2026, advancing proton-boron fusion technology. (ENN Research Updates)

TAE Technologies Unveils “Copernicus” Reactor Plans

TAE Technologies shared details about its next-generation reactor, code-named Copernicus, building on lessons from its “Norman” reactor. TAE is scaling up its advanced beam-driven FRC (Field-Reversed Configuration) approach, with plans for a demonstration of sustained fusion conditions and targeting commercial power by the 2030s. (TAE Energy)

European DEMO Moves Forward

The European consortium working on DEMO, following ITER, released new design parameters incorporating advanced superconductors, improved plasma-facing materials, and feedback control systems. This progress aims for a working fusion power demonstration plant to connect to the grid by the late 2030s. (Source)

Helion Energy–Microsoft Power Purchase Agreement

Announced in 2023, Helion’s agreement with Microsoft gained traction in 2024 as the company revealed more details about its plant’s construction progress, still aiming for first electricity delivery by 2028. This high-profile partnership has boosted investor confidence across the fusion sector. (Helion Energy)

Funding and Investments

Fusion Sector Reaches Over $7.1 Billion in Cumulative Investments

The Fusion Industry Association reported record-breaking funding levels, with cumulative global investments exceeding $7.1 billion. Notable funding rounds in 2024 included $100 million for Xcimer Energy, $90 million for SHINE Technologies, and $65 million for Helion Energy. These figures underscore the growing confidence in fusion’s transformative potential as a clean energy solution. (Fusion Industry Association)

China Outspends the U.S. in Fusion Research

China continued to lead global fusion investments, allocating approximately $1.5 billion annually—nearly double the U.S. budget. This funding fuels cutting-edge research and development, particularly in magnetic confinement systems, positioning China to potentially outpace the U.S. and Europe in achieving practical fusion energy. (CNN)

U.S. DOE Investments and FIRE Collaboratives

The U.S. Department of Energy (DOE) played a pivotal role in advancing fusion through substantial funding initiatives:

Milestone-Based Fusion Development Program: Allocated $46 million to eight companies, supporting the development of pilot-scale fusion demonstrations within the next decade.
FIRE Collaboratives: Announced a $180 million funding opportunity for Fusion Innovative Research Engine projects, fostering public-private partnerships to bridge foundational and applied fusion science.

Private Sector Investments Break Records

The private sector made significant strides in advancing fusion energy commercialization:

Commonwealth Fusion Systems (CFS) Raised $1.8 billion in a funding round led by investors like Bill Gates and Jeff Bezos. This funding will support the development of the world’s first grid-scale fusion plant in Virginia.
Tokamak Energy: Secured $200 million to further its compact spherical tokamak design, a critical step toward practical and cost-efficient reactors.
Helion Energy: Continued attracting investments, including a $375 million infusion from Sam Altman, fueling the development of its Polaris facility, which aims to achieve net electricity production by 2028.

Public-Private Partnerships and Government Funding

Governments around the globe are increasing engagement with private fusion companies:

The U.S. Milestone-Based Fusion Development Program expanded its budget by 57% in 2024, reaching $426 million, reflecting a strategic focus on leveraging private-sector innovation.
Japan’s Fusion Moonshot Initiative and Germany’s Fusion 2040 Program are advancing national goals for fusion commercialization, emphasizing research collaborations and technology deployment.

International and Venture Investments

Asia’s Growing Role: Beyond China’s investments, Japan’s Kyoto Fusioneering raised $88 million in Series C funding, further bolstering Asia’s leadership in fusion innovation.
UK Fusion Futures: The UK government launched its Fusion Futures Program, channeling funds into fusion research and supporting start-ups.
Venture Capital and Philanthropy: Leading venture funds like Breakthrough Energy Ventures, founded by Bill Gates, have been pivotal in funding startups like CFS, accelerating private sector-led advancements.

Infrastructure and Hardware

Commonwealth Fusion Systems’ Grid-Scale Fusion Plant (Virginia, USA)

CFS announced the development of a 400-megawatt grid-scale fusion plant in Virginia. This groundbreaking facility will utilize high-temperature superconducting magnets, showcasing their ability to enable compact and efficient fusion reactors. The plant is expected to serve as a model for integrating fusion power into existing energy grids.

Tokamak Energy Advances HTS Magnet Technology

UK-based Tokamak Energy achieved significant progress in high-temperature superconducting (HTS) magnet technology, which allows reactors to operate at higher efficiencies and lower costs. These advancements are crucial for the development of compact, cost-effective fusion reactors.

General Fusion’s Lawson Machine (Canada)

General Fusion began constructing its “Lawson Machine,” the first reactor designed to validate Magnetized Target Fusion (MTF) conditions in a compact and manageable format. This project represents a major step toward scalable fusion energy solutions.

Helion Energy’s Polaris Project

Helion Energy advanced the construction of its Polaris facility, which is expected to be the first fusion power plant to generate net electricity. The project focuses on optimizing pulsed plasma thrusters and power conversion systems, with a goal of delivering operational capacity in the near future.

ITER’s First Wall Panel Installation

Despite some delays, ITER achieved a significant milestone by installing its first wall panels, essential for managing plasma and heat loads. These panels are integral to the reactor’s inner lining and will play a critical role in supporting ITER’s long-term operation.

TAE Technologies’ Copernicus Facility (California, USA)

TAE Technologies began constructing a new facility in California to house its “Copernicus” reactor, which will leverage advanced beam-driven Field-Reversed Configuration (FRC) fusion. The facility is set to significantly expand TAE’s experimental and hardware capabilities, pushing the boundaries of FRC-based fusion energy.

China’s Experimental Fusion Pilot Plant

China commenced construction of an experimental fusion pilot plant designed to validate the commercial viability of fusion energy. This facility will integrate advanced superconducting magnets and state-of-the-art plasma control systems, further solidifying China’s leadership in fusion innovation.

Prototype Reactor Components at EUROfusion

EUROfusion, the European Consortium for the Development of Fusion Energy, made progress in testing prototype components like divertors and blankets. These components are essential for handling plasma exhaust and breeding tritium, enabling sustainable fusion reactions.

Material Testing for Extreme Conditions

Research groups at MIT and the Korea Atomic Energy Research Institute have been advancing material science for fusion reactors. Their efforts focus on developing alloys and composites capable of withstanding extreme temperatures, neutron bombardment, and plasma interactions, extending reactor lifespans and reducing maintenance costs.
Source: Max Planck Institute for Plasma Physics

Policy and Regulation

U.S. Fusion Energy Strategy 2024

The Department of Energy (DOE) unveiled a comprehensive strategy to achieve commercial fusion energy by the 2030s. The plan prioritizes public-private partnerships, funding pilot projects, and streamlining regulatory processes to accelerate deployment. By creating a clear pathway for fusion commercialization, this strategy places the U.S. at the forefront of fusion energy innovation.
Source: U.S. Department of Energy

Fusion Energy Act Amendment

The U.S. House Energy and Commerce Committee passed a law distinguishing fusion energy from nuclear fission, categorizing it as particle accelerator technology. This regulatory clarity reduces administrative barriers and fosters private sector participation in fusion energy development.
Source: U.S. Government Fusion Policy

ITER Project Delays

The ITER project in France faced further delays, postponing major experiments to 2039. These delays highlight the challenges of scaling fusion from research to industrial applications, emphasizing the importance of parallel global efforts to advance fusion energy.
Source: ITER News

Washington State’s HB 1018

Washington State prefiled HB 1018 in December 2024 to expand the Energy Facility Site Evaluation Council (EFSEC) process, enabling streamlined permitting for fusion energy facilities. This bill reflects growing recognition of fusion’s potential to contribute to clean energy goals.
Source: Washington State Legislature

EU Fusion Regulation Framework

The European Union advanced a regulatory framework tailored to fusion energy, aiming to expedite deployment while ensuring safety. This initiative integrates fusion into existing energy policies and establishes a dedicated regulatory body to address the unique characteristics of fusion technology.
Source: European Commission

UK’s Fusion Energy National Policy Statement

The UK began consultations on a new Fusion Energy National Policy Statement to provide clear regulatory guidance for fusion facilities. The policy distinguishes fusion from fission and outlines pathways for safe, efficient deployment of fusion technology.
Source: UK Government Policy

Japan’s Fusion Energy Roadmap

Japan updated its fusion energy strategy, emphasizing streamlined licensing processes and safety regulations tailored to fusion’s unique needs. These updates are part of Japan’s broader commitment to expedite fusion commercialization.
Source: Japan Fusion Energy Strategy

Regulatory Horizons Council Report (UK)

The UK’s Regulatory Horizons Council issued a report recommending innovation-friendly regulatory reforms to support fusion energy’s rapid introduction. The report highlights the importance of balancing safety with the need to encourage industry growth.
Source: Regulatory Horizons Council

Bipartisan Fusion Energy Act in the U.S.

U.S. Senators introduced a bill to clarify the Nuclear Regulatory Commission’s (NRC) role in overseeing fusion systems. The legislation aims to accelerate development by providing a more streamlined and supportive regulatory framework for commercial fusion projects.
Source: U.S. Senate Legislation

Fusion Industry Association Advocacy

The Fusion Industry Association (FIA) has been actively lobbying for policies that differentiate fusion from nuclear fission. By advocating for lighter regulatory burdens, the FIA aims to accelerate fusion sector growth while maintaining safety and compliance.
Source: Fusion Industry Association

Agreement State Involvement in U.S. Fusion Regulation

Discussions are ongoing in the U.S. about how Agreement States—those with authority delegated by the NRC—could regulate fusion facilities. This approach could provide localized and potentially more efficient oversight of fusion projects.
Source: NRC Updates

Scholarly Contributions

IAEA’s World Fusion Outlook 2024

The International Atomic Energy Agency released its World Fusion Outlook 2024, detailing global advancements in fusion technology, policy trends, and commercialization strategies. The report serves as a comprehensive reference for stakeholders navigating the fusion industry’s rapid evolution.
Source: IAEA Official Report

Enhanced Proton-Boron Fusion Reactions

A groundbreaking study demonstrated significant α particle generation using laser-modulated plasma in proton-boron fusion reactions. This research opens new possibilities for advanced fusion fuel cycles, reducing dependency on traditional deuterium-tritium fuels.
Source: ArXiv Preprint

JET’s Final Experiments Yield Critical Findings

The Joint European Torus (JET) completed its final experimental campaigns, providing invaluable data on plasma behavior and tritium handling. These insights are expected to guide the design and operation of next-generation tokamak projects like ITER.
Source: Nuclear Fusion Journal

New Plasma Confinement Techniques

Researchers at Princeton Plasma Physics Laboratory published innovative methods to enhance plasma confinement. These techniques aim to increase reactor efficiency and stability, addressing one of the major challenges in achieving sustainable fusion reactions.
Source: Princeton Plasma Physics Laboratory

Fusion Simulation Advancements with AI

The Max Planck Institute for Plasma Physics leveraged artificial intelligence to advance fusion simulations, cutting computational time from weeks to days. Machine learning models now provide highly accurate predictions of plasma behavior, expediting the design of future reactors.
Source: Max Planck Institute for Plasma Physics

Material Science Innovations for Fusion Reactors

A collaborative study by MIT and the Korean Institute of Fusion Energy introduced a new class of materials capable of withstanding extreme temperatures and neutron bombardment inside fusion reactors. These materials promise to reduce maintenance costs and extend reactor lifespans.
Source: MIT Fusion Energy News

Neutronics Studies for Fusion Reactors

The University of Tokyo made significant strides in neutronics, analyzing neutron interactions within fusion reactors. Their findings provide crucial data for shielding design and material degradation, improving reactor safety and durability.
Source: University of Tokyo Neutronics Studies

Laser Fusion Efficiency Breakthrough

The University of Rochester achieved a breakthrough in laser-driven fusion, improving energy coupling efficiency between lasers and fusion targets. This advancement makes laser-based fusion approaches more viable for large-scale energy production.
Source: University of Rochester

Economic Analysis of Fusion Power

Researchers at the University of California, Berkeley, explored the economic feasibility of fusion reactors, analyzing cost structures and market integration strategies. The study offers a roadmap for evaluating commercial fusion power plants.
Source: UC Berkeley Economic Study

Fusion Education and Workforce Development

The Nuclear Fusion Institute at the University of Wisconsin-Madison launched interdisciplinary programs to train the next generation of fusion engineers and scientists. These initiatives aim to address workforce needs as fusion moves toward commercialization.
Source: University of Wisconsin-Madison Fusion Institute

A New Era Toward Fusion Energy

This year’s milestones, from China’s historic net energy positive reaction to breakthroughs in compact reactor designs, have showcased the immense potential of fusion technology to revolutionize the global energy landscape. Substantial investmentstotaling billions in both public and private funding underscore the growing confidence in fusion as a viable energy solution. International partnerships, policy advancements, and regulatory clarity have further laid the groundwork for accelerated innovation and deployment.

The journey to commercial fusion energy is no longer a question of “if” but “when.” With the unprecedented momentum achieved in 2024, the fusion industry is well-positioned to meet its ambitious goals of providing clean, limitless, and sustainable energy. These achievements signal the dawn of a new energy paradigm, one powered by the brilliance of scientific discovery and the collective determination to create a sustainable, energy-secure world.

As we look ahead, the strides made in 2024 remind us of humanity’s ability to overcome daunting challenges through ingenuity and collaboration. The fusion sector is not just building reactors—it is building a brighter, more sustainable future for generations to come.