More than 30 companies are racing to produce energy from fusion that could one day help the world reduce emissions linked to climate change. Unlike today’s fission reactors, it can produce energy by fusion without producing long-term radioactive waste. Fusion occurs when two light atoms, such as hydrogen, heated to extreme temperatures, combine to form a heavier atom, releasing large amounts of energy.
Until now, fusion reactions around the world have been instantaneous and absorb more energy than they release, but companies have raised around $5 billion from private funds to generate net energy gains.
Helion plans to establish the plant by 2028
“50 megawatts is a great first step towards commercial-scale fusion,” said David Kirtley, founder and CEO of Helion. Kirtley states that Helion’s seventh-generation machine, Polaris, will be operational next year and will generate electricity using a mix of laser and magnet technologies to achieve fusion. It should be noted that in 2021, Helion was the first private company to reach 100 million degrees Celsius.
While many fusion companies turn to tritium, a rare isotope of hydrogen, to aid fuel reactions, Helion plans to use Helium 3, a rare gas used in quantum computing. Helion has so far raised more than $570 million in private equity with OpenAI CEO Sam Altman.
Historic energy deal signed with Microsoft
Helion still needs local permits as well as design and construction approvals from the Nuclear Regulatory Commission (NRC). However, the NRC’s decision to separate the fusion regulation from the fission regulation last month delighted the fusion industry; Proponents say this step could shorten the time for license approvals.
Andrew Holland, President of the Fusion Industry Association, said that nothing about fusion is easy, but the deal shows that trust is built. “The business community is starting to realize that fusion is coming, and perhaps sooner than many people think,” Holland said in an interview.