Fusion Industry Leaders Hold DC Conference Looking for Investors

Fusion Industry Leaders , Hold DC Conference , Looking for Investors.

Fox News reports that leaders in the West's emerging nuclear fusion industry are convening this week to attract additional funding to build commercially-viable reactors.

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The high-level conference takes place as the industry races to develop the technology ahead of China.

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Earlier this month, the Biden administration signed a funding bill that contained $790 million for fusion science programs in 2024.

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Earlier this month, the Biden administration signed a funding bill that contained $790 million for fusion science programs in 2024.

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Unlike current nuclear fission plants, commercial fusion plants would not produce any long-lasting radioactive waste.

According to Andrew Holland, CEO of Fusion Industry Association (FIA), the industry is concerned that fusion will follow the same pattern as the solar industry.

Much of the technology used in the solar industry was invented in the United States, but manufacturing was primarily handled in China.

It is very clear that China has ambitions to do the same sort of thing, both in the supply chain and the developers.

It's time for the U.S. to respond to that challenge, Andrew Holland, CEO of Fusion Industry Association (FIA), via Fox News.

According to an FIA report from last July, private companies around the world have invested over $6 billion in fusion technology through 2022.

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Fox News reports that the third annual FIA conference is expected to attract an estimated 350 attendees from around the world.

Last year, the industry gained momentum after scientists at California's Lawrence Livermore Laboratory reported a breakthrough, bringing the technology one step closer to commercial viability.