Happy Holidays from the Fusion Industry Association!
As we wrap up 2022, we wanted to reflect on what a monumental year (not just week!) its been for fusion worldwide, and on what's to come. But first, in late-breaking news from here in Washington, we're pleased to see that Congress will provide record funding for fusion energy research and development in this year's spending bill. But we also know that the promise of fusion and the opportunities it presents mean that more funding is needed to capitalize on it.
Looking back, last week’s announcement of net fusion power on Earth for the first time ever was quite an ending to a pivotal year in fusion development. 2022 will go down in history for fusion achievements on all fronts around the world.
Scientists achieved technological and scientific breakthroughs in both the public and private sectors. Government leaders put fusion forward in their net-zero climate goals. The White House held a Summit on Developing a Bold Decadal Vision for Fusion Energy. Private investment in fusion increased by 139% in the past year alone, now standing at over $5 billion worldwide. The U.S. Department of Energy announced a new fusion milestone-based public private partnership program. Congress allocated record fusion R&D spending in the US federal budget, with more record increases announced yesterday in the 2023 budget. Fusion made its way to COP27 in Sharm-El-Sheikh, and even to Paris Fashion Week and Saturday Night Live.
We’re excited to see the world accelerate fusion development and push for its massive potential benefits in climate, the global economy, and international security. We look forward to continuing the momentum in 2023. Stay tuned for upcoming announcements on a regulatory decision here in the US (more info here and below), activity in the milestone-based public private partnership, and a published FIA report on the global supply chain.
Thank you all for your support throughout this exciting, busy year. Wishing you all a happy and healthy 2023.
Andrew Holland
Chief Executive Officer
Fusion Industry Association
The FIA is a collaborative effort, combining scientific, political, government, and media expertise to support its 31 member companies, as well as our growing list of affiliate members and partner organizations. We need partnerships with people, companies, and institutions. Our website includes more details on membership benefits and responsibilities, so please click here for more about how to join.
