US announces $46 million in funding for eight nuclear fusion companies

WASHINGTON (Reuters) – Eight U.S. companies developing nuclear fusion power will receive $46 million in government funds to pursue pilot plants attempting to generate electricity from the process that powers the sun and stars, the sun and stars said on Wednesday. the Department of Energy.
Generating more energy from the fusion reaction than necessary has eluded scientists for decades. But more than 30 companies around the world are trying to generate electricity from fusion, which could one day help the world reduce emissions linked to climate change, without producing long-lasting radioactive waste.
Fusion occurs when the nuclei of two light atoms such as hydrogen, heated to extreme temperatures, fuse into a heavier nucleus releasing large amounts of energy.
The Department of Energy’s Milestone-Based Fusion Development Program hopes to help develop a pilot demonstration of fusion within a decade.
“The Biden-Harris administration is committed to partnering with innovative researchers and companies across the country to move fusion energy beyond the lab and into the grid,” the secretary told Energy, Jennifer Granholm, in a statement.
The winners are:
-Commonwealth fusion systems
-Focused Energy Inc.
-Princeton Stellarators Inc.
-Realta Fusion Inc.
-Tokamak Energy Inc
-Type One Energy Group
-Xcimer Energy Inc
-Zap Energy Inc
The funding, which comes from the Energy Act 2020, is for the first 18 months. Projects can last up to five years, with future funding dependent on congressional appropriations and the progress companies make toward milestones.
Seeking to launch fusion plants using lasers or magnets, private companies and government labs spent $500 million on their supply chains last year, according to a fusion industry association (FIA).
They plan to spend around $7 billion by the time their first factories go live, and potentially trillions of dollars mostly on high-grade steel, concrete, and superconducting wires in a mature industry, estimated between 2035 and 2050. according to the survey.


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