The Race to Nuclear Fusion Commercialisation

The Companies Paving the Way For Limitless Energy

Nuclear fusion has gained widespread recognition as a potential source of future energy that could help solve many of our energy needs. And although still very much in its infancy, the fusion industry has seen remarkable growth in recent years, with private-sector investment increasing by $2.83bn in 2022 alone. This represents a doubling of the figure from 2021 and brings the total investment in the industry to almost $5bn, according to the Fusion Industry Association.

It’s worth noting that fusion and fission are distinct processes. Fusion involves combining atomic nuclei, while fission involves splitting them. Currently, every commercial nuclear reactor on Earth relies on fission, which involves splitting uranium atoms to generate heat. This heat is then used to create steam that powers turbines, ultimately producing the electricity that we use to charge our phones and other electronic devices.

Nuclear fission is a valuable source of energy, meeting about 10% of the world’s current energy needs. It is also relatively clean and produces low-carbon energy. In fact, a single pellet of uranium fuel measuring just 2.5cm contains as much energy as a ton of coal.