The International Atomic Energy Agency’s (IAEA) 30th such global fusion energy conference is taking place right now in Chengdu, China. This event marks a tremendous culmination of the effort to achieve clean and nearly limitless energy. It brings together IT professionals, researchers, and IT leaders from across the world. Since 1961, the international fusion community has come together at these global fusion energy conferences to make the case for harnessing the power of fusion energy. Nicknamed sometimes as “the physicists’ fantasy,” this technology has historically been considered 30 years away from realization.
This year’s gathering takes place against the backdrop of a rapid influx of activity and investment in the fusion energy space. Right now, there are about 150 experimental fusion devices and testing facilities that are operational, under construction or planned. Additionally, more than 20 different plant designs are being developed, showing a strong and widespread commitment to developing this promising technology. As countries around the world race to become the first fully fusion energy capable nation, China is becoming a key leader in this race.
The Race for Fusion Energy
The speed of China’s advancement on developing fusion energy underlines its desire to establish itself as the dominant global power in this new energy source. Accompanied by massive investments and a large, highly collaborative research infrastructure, the country is racing towards achieving the goal of practical and deployable fusion energy solutions. Researchers are exploring two primary methods for achieving fusion: magnetic confinement and inertial confinement through lasers.
HB11 is achieving unprecedented breakthroughs in fusion energy. This Australian company is at the forefront of this technology, harnessing lasers to push the boundaries of this dynamic field. The company is currently focused on completing a prototype facility in Adelaide. This area is known as the Silicon Valley of laser technology. Warren McKenzie, CEO of HB11, as well as 94-year-old professor Heinrich Hora, is still closely engaged in the company’s efforts.
FUSION HB11 expects that it will have a pilot plant producing commercially viable fusion electricity by the 2030s. This aggressive timeline is well-aligned with the goals of the global fusion community. Their focus is on transitioning from the experimental stages of fusion energy to practical application. The technical challenges are indeed daunting. Perhaps the biggest challenge is having to confine plasma that can get up to 100 million degrees Celsius.
Investment and Future Prospects
There is a palpable momentum to invest in fusion energy technology. Hostplus recently made a $330 million bet to buy a 4 percent stake in Commonwealth Fusion Systems (CFS). This Boston-based company is at the forefront of the effort to commercialize fusion energy here in the U.S. This investment is indicative of a larger trend—a growing confidence in fusion as a viable alternative to traditional energy sources.
Sam Sicilia, Hostplus’s chief investment officer, remarked on the significance of fusion energy, stating, “This is the biggest potential change in the world’s energy mix that we have seen in our lifetime.” He promoted the notion that fusion could be the clean energy remedy for the world offering “infinite power forever.” This technology has the potential to change the way the world uses energy for the better.
Greg Ainsworth, another key voice in the fusion landscape, noted that fusion energy could be “much, much cheaper than coal-fired power stations because you don’t need to dig up coal and transport it.” He went on to describe its environmental advantages in more detail, touting the fact that it would be “a lot cleaner” than traditional forms of energy. Ainsworth sounded a hopeful note about competition in the fusion space leading to lower costs.
Challenges and Opportunities
Despite this impressive potential, monumental obstacles still stand in the way of making fusion energy a practical reality. The biggest challenge is controlling the ultra-hot plasma required for the fusion reaction. Technologies like high-temperature superconducting magnets are proving more than capable of breaking through this barrier.
The period is now reduced to five years, Ainsworth stated. To fully appreciate the progress that’s been made to date in the fusion field. He underscored recent advances in science and technology directed at successfully controlling blazing-hot plasma to achieve controlled fusion reactions.
The Commission on the Scaling of Fusion Energy highlighted the current dynamics of the sector by stating, “The central dynamic of the fusion race is clear: the United States laid the scientific groundwork; China is positioning to win the industry.” This observation reflects the competitive atmosphere surrounding fusion energy development and indicates that multiple countries are investing heavily to secure their roles in this emerging market.
