General Fusion are developing fusion energy called Magnetized Target Fusion (hydrogen atoms fused together by heating to high temperatures) which offers clean, safe and large scale power. This source of power does not generate greenhouse gases. Fusion is powered by deuterium and tritium – natural resources that could supply the earth with energy for millions of years.
HOW THEY’RE DISRUPTING
General Fusion are focused on economic commercialisation of fusion energy and are offering low cost plants for energy production. Per kWh, fusion energy costs $0.05, compared to coal, which costs $0.09 and is far more detrimental to our environment.
The fusion energy progress has been rapid, with public and private fusion projects underway in three dozen countries, suggesting it is much closer than we think. General Fusion have been back by global energy venture capital funds since their inception, and are considered world leaders of this form of fusion energy.
INVESTMENTS AND FUTURE
General Fusion have raised $89.6 million, including a $12.75 million grant from Sustainable Development Technology Canada. They are also the recipients of numerous Canadian and international cleantech awards. Their ambition is to bring this form of energy to commercialisation by the end of the decade.