3,858
 

Sep 26 - Feds commit $50 million to for-profit nuclear fusion companies



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT

most viewed right now
  187
60 replies  @hiphop



section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section news
  
 2 months ago '11        #1
319 page views
3 comments


Sin  topics gone triple plat - Number 1 spot x54
avatar
Props total: 197116 197 K  Slaps total: 26738 26 K
Sep 26 - Feds commit $50 million to for-profit nuclear fusion companies
 

 
KEY POINTS
-The Department of Energy officially announced $50 million will go towards private fusion companies in public-private partnerships.
-The U.S. government has put federal money into fusion since research since the 1950s and today invests about $700 million per year into fusion research, Andrew Holland the CEO of the fusion industry trade group, told CNBC. But this is the first time substantial amounts of money have gone to for-profit fusion companies.
-“This is not for pure science. This is a commercial development and deployment program,” Holland told CNBC.


image

The United States government is putting money behind private-sector nuclear fusion companies for the first time, and that’s an indication of how momentum is building behind the “holy grail” of clean energy.

At the Global Clean Energy Action Forum in Pittsburgh on Thursday, the Department of Energy officially announced $50 million will go towards private fusion companies in public-private partnerships.

“This money signifies that the U.S. government is getting serious about building a fusion program that will have commercial significance, on an accelerated timeframe,” Andrew Holland, the CEO of the Fusion Industry a*sociation, an industry trade group, told CNBC.

“If the U.S. government puts its full weight behind accelerating fusion energy to the grid, it could bring a transformational new energy source to the U.S.,” Holland told CNBC.

Conventional nuclear reactors are based on nuclear fission, where a neutron slams into a large atom and splits it, releasing energy in the process. Nuclear fusion is when two heavier atoms slam together to form a heavier atom, and is the way stars are powered. It is often seen as the “holy grail” of clean energy because it offers virtually unlimited energy, releases no greenhouse gasses, and generates no long-lasting nuclear waste. But it’s proven very difficult to duplicate the process safely on earth in a way that can be scaled and commercialized.

The U.S. government has put federal money into fusion research since the 1950s and today invests about $700 million per year. Holland told CNBC. But that money has mostly gone toward national labs and universities and toward the primary international research project in France, ITER, but the $50 million announced for private fusion companies “is the first substantial investment by the U.S. government into private-sector fusion energy companies,” Holland told CNBC.

“This is not for pure science. This is a commercial development and deployment program,” Holland told CNBC.

The $50 million is help companies prepare detailed plans, but it is not enough money to fund the full construction of fusion power plants, which will be much more expensive.

The private sector fusion industry has attracted almost $5 billion in venture and other funding according to the Fusion Industry a*sociation.

Notable recent raises include a $1.8 billion raise from Commonwealth Fusion Systems, a spinout from Massachusetts Institute of Technology research, from a slew of heavy-hitting investors including Bill Gates, John Doerr, Salesforce co-CEO Marc Benioff’s Time Ventures, and Google, to name a few. Another private fusion company, Helion, announced a $500 million raise led by Silicon Valley insider Sam Altman and which includes the potential for another $1.7 billion in funding depending on Helion meeting particular funding goals.

While the program is currently funded at $50 million over the next 18 months, Congress has authorized spending as much as $415 million in future budgets. The public private fusion funding program was first authorized in the Energy Act of 2020.

visit this link https://www.cnbc.com/2022 .. companies.html
+2   



best
worst
3 comments
 

 2 months ago '18        #2
TheLuminousOne  topics gone triple plat - Number 1 spot x11
Props total: 73143 73 K  Slaps total: 3990 3 K
Hmmm

 2 months ago '17        #3
Ymmot  topics gone triple plat - Number 1 spot x5
Props total: 115282 115 K  Slaps total: 40091 40 K
This is dope.

 2 months ago '04        #4
soulof585  topics gone triple plat - Number 1 spot x1
Props total: 1651 1 K  Slaps total: 293 293
Stocks???? Post em if you know any.
+2   



Sign me up
 
 

yesterday...


most viewed right now
+47online now  48
Video inside Desi talks about going to Africa and being mesmerized by a woman he was..
58 comments
23 hours ago
@wild'ish
most viewed right now
+71online now  33
One of the greatest, intentionally stupid movies ever made.
56 comments
21 hours ago
@movies
most viewed right now
+41online now  27
salehe bembury 990v2
27 comments
20 hours ago
@gear
most viewed right now
+125online now  22
Mexican Actor in the movie black panther calls out Mexico media for being racist
131 comments
21 hours ago
@movies
back to top
register register Follow BX @ Twitter search BX privacyprivacy