Fusion Pioneer Secures Major Customer for First Commercial Power Plant

Fusion Power Plants Don't Exist Yet, But They're Making Money Anyway Commonwealth Fusion Systems announced this week that it has secured another customer for its first commercial fusion power plant, which is set to be built in Virginia. Eni, one of the world's largest oil and gas companies, signed a billion-dollar deal to purchase electricity from the facility. However, there's a catch: neither the Virginia reactor nor Commonwealth's smaller demonstration model exists yet. This development highlights a peculiar trend in the fusion industry, where investors are pouring billions into building power plants that don't yet exist. Companies like Commonwealth and its competitors are signing massive agreements with customers to purchase electricity from reactors that are still in the conceptual phase. This phenomenon has raised questions about the expectations surrounding fusion technology. According to Dr. Bob Mumgaard, CEO of Commonwealth Fusion Systems, "We're not just building a power plant; we're building an industry." He emphasized that the company's focus is on developing a commercially viable fusion reactor, but acknowledged that this process takes time and investment. The National Ignition Facility at Lawrence Livermore National Laboratory achieved a major milestone for fusion power nearly three years ago. With the help of the world's most powerful lasers, scientists heated a pellet of fuel to 100 million degrees Celsius, causing hydrogen atoms to fuse together and release more energy than the lasers put in. This breakthrough marked a significant step forward for fusion research. Fusion power plants have long been touted as a potential solution to the world's energy needs. They promise to provide clean, sustainable electricity without generating greenhouse gas emissions or radioactive waste. However, developing such technology requires significant investment and time. Industry experts point out that companies like Commonwealth are taking a calculated risk by signing agreements with customers before building a working reactor. "It's a bet on the future," said Dr. Eric Lerner, founder of Lawrenceville Plasma Physics. "These companies believe they can deliver on their promises, but it's a high-risk strategy." Commonwealth's demonstration model is expected to be completed in 2025, with the commercial plant following soon after. The company has already secured significant funding from investors, including Bill Gates and Google Ventures. As the fusion industry continues to evolve, companies are facing increased pressure to deliver on their promises. While the potential rewards of fusion power are substantial, the challenges ahead are just as daunting. With billions of dollars invested in this emerging field, one thing is clear: the future of energy production will be shaped by the success or failure of these ambitious projects. In the words of Dr. Mumgaard, "We're not just building a power plant; we're building an industry." The question remains: can Commonwealth and its competitors deliver on their promises? Only time will tell. *Reporting by Technologyreview.*