• 4 minutes Energy Armageddon
  • 6 minutes "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 12 minutes "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 15 hours Wind droughts
  • 4 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 2 days Kazakhstan Is Defying Russia and Has the Support of China. China is Using Russia's Weakness to Expand Its Own Influence.
  • 2 days Oil Prices Fall After Fed Raises Rates
  • 12 days How Far Have We Really Gotten With Alternative Energy
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Russian oil executive and Putin critic Ravil Maganov dead after mysterious six-story fall" - The New York Post
  • 2 days 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 7 days Beware the Left's 'Degrowth' Movement (i.e. why Covid-19 is Good)
  • 10 days The Federal Reserve and Money...Aspects which are not widely known
City A.M

City A.M

CityAM.com is the online presence of City A.M., London's first free daily business newspaper. Both platforms cover financial and business news as well as sport and…

More Info

Premium Content

Investment In Nuclear Fusion Is Exploding

  • Nuclear fusion has attracted more than $2.8 billion in new investment over the past year.
  • The industry is quickly gaining traction as scientists hone in on new breakthroughs. 
  • The UK is home to some of the world’s leading fusion prospects, such as Tokamak Energy and First Light Fusion, both based in Oxford.

Nuclear fusion has enjoyed a huge bump-up in global investment over the past 12 months, raising hopes of a breakthrough in clean energy technology. 

New industry figures reveal more has been poured into the sector over the past year than the previous ten combined, as first reported in The Telegraph.  

Fusion attracted $2.8bn [£2.5bn] over the past year, compared to around $2bn over the previous decade.

The Fusion Industry Association said more than 93p percent of companies that responded to its survey believe that fusion power will be feeding electricity into power grids by the 2030s. 

Producing energy through nuclear fusion has been a long-held ambition for scientists and energy experts, and has prominently featured in science fiction novels and movies.

The process involves fusing nuclei together, which throws off energy – which could then provide theoretically abundant energy on earth.

Scientists have for decades tried to use nuclear fusion to produce electricity at a usable scale, however replicating the reaction on Earth is highly challenging, requiring vast amounts of heat and pressure.

So far, they have not yet managed to produce more energy from the reaction than it takes to trigger the reaction. 

There are signs of progress, however, with scientists achieving a record 59 megajoules of energy in experiments at a facility in Culham, near Oxford earlier this year. 

This enough power to boil about 60 kettles.

The UK is home to some of the world’s leading fusion prospects, such as Tokamak Energy and First Light Fusion, both based in Oxford.  

First Light Fusion raised $45m (£33m) in February from investors including Chinese technology giant Tencent – bringing outside backing for the venture to $107m.

The Fusion Industry Association revealed eight new companies have entered the race for fusion over the past twelve months – reflecting renewed optimism in the energy source.

The UK Government backs the technology, with the UK Atomic Energy Authority working on plans for a prototype fusion power plant in the UK. 

By City AM

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News