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US Department of Energy to provide USD 46 million to fusion companies
Alternative Energy
May 31, 2023
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Alternative Energy

Alternative Energy

May 31, 2023

US Department of Energy to provide USD 46 million to fusion companies

Funding

  • The US Department of Energy (DOE) announced that USD 46 million in funding will be provided from its Milestone-based Fusion Development Program to eight companies, in hopes of advancing designs and research and development for fusion power plants.

  • The startups that have been selected to receive the funding include Commonwealth Fusion Systems, Focused Energy, Princeton Stellarators, Realta Fusion, Tokamak Energy, Type One Energy, Xcimer Energy, and Zap Energy.

  • The funding, which comes from the Energy Act of 2020, will be provided only for the first 18 months. The company projects may last up to five years and the provision of future funding totaling USD 415 million will be contingent on congressional approval, as well as engineering and scientific milestones.

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