Funding for commercial fusion projects has more than doubled in the last 12 months, according to a recently published report by the Fusion Industry Association, The Global Fusion Industry in 2022.
In the past year, fusion companies have raised more than $2.83bn (£2.39bn) in funding, an increase of 139 per cent from the 2021 report. This figure has taken all-time investment into the technology to a record $4.8bn (£4bn).
The increase is explained by the fact that eight new fusion companies have entered the market in the last 12 months, each raising over $200m (£169m) in total, a sign of the industry’s rapid growth and investor confidence.
"The last 12 months will be seen as the turning point when it became clear that fusion would move out of the laboratories and into the marketplace," Andrew Holland, chief executive officer of the Fusion Industry Association, writes in the report's foreword.
Most of the funding declared is from private sources...