The future of fusion energy: What will it take to bring the power of the stars to earth?

Fusion energy powers the sun, and one day, it could power earth, too. 

Per kilogramme of fuel, fusion generates nearly four million times more energy compared to coal and oil, making it a potentially limitless source of power that could fuel the planet in the age of artificial intelligence and beyond.  

CEO of SGInnovate, Dr Lim Jui, during his opening address. 

But what will it take to engineer and commercialise fusion technology, and turn it from a dream into reality? Strengthening scientific understanding of fusion is only one part of the equation. Beyond that, the wider ecosystem of stakeholders — including startups, corporations, regulators, investors and more — must work together to unlock capital and build the partnerships and pipelines that will propel fusion into the future. 

*Note: Discussions were held under Chatham House rules, which means speakers cannot be named.

Fusion technology has been around for years. But the industry is still considered nascent, given that it has yet to achieve sustained net positive energy generation. 

In turn, this has caused some investors to hold back. “It’s always been a case where the science (of fusion) had not yet reached a stage where we felt that as an investor, we could pull the trigger,” said one panellist at FusionX:Singapore.

Speakers on the investment panel which covered topics such as infrastructure opportunities and Singapore’s market potential. (L to R: Scott Hsu, Head of Fusion, Lowercarbon Capital; Rajesh Swaminathan, Partner, Khosla Ventures; Hsien-Hui Tong, Executive Director, Investments, SGInnovate; Andrew Wong, Director, TRIREC; Stuart Allen, CEO & Co-Founder, FusionX) 

But strides have been made in recent years. Speakers acknowledged that fusion technology is becoming more versatile and able to be commercialised across sectors, helping to de-risk investments and avoid binary outcomes — when technology fails and the entire investment has to be written off. 

Accordingly, companies like SGInnovate have put some skin in the game, with investments in Focused Energy, a global deep-tech firm working on commercialising laser fusion, a method in which lasers are used to heat and compress fuel pellets to initiate a fusion reaction. 

Still, panellists agreed that more needs to happen to catalyse funding. While scientific breakthroughs such as a historic experiment in 2022 at the National Ignition Facility in California saw a laser-powered fusion reaction successfully produce more energy than it consumed, the science is only about 80 per cent complete, said one speaker. 

“The science and the enabling technologies that allow you to create fusion conditions in the laboratory…that’s the hardest part.” 

Enabling technologies include high temperature superconductors and other advanced materials. Achieving these scientific milestones will unlock capital and help to make fusion power plants not just viable, but economically attractive, panellists said.
 

As fusion technology matures, so must the wider ecosystem. In particular, crossover technologies from other up-and-coming sectors like quantum can help to spur fusion forward. 

“Everyone is converging on certain technologies that are going to move the innovation ecosystem forward,” said a panellist, adding that building a cross-sector supply chain can help to speed up the path to commercialisation — whether fusion or another technology is first to cross the finish line. 

The rise of electric vehicles in recent years shows that commercialisation is possible, noted another panellist. Twenty years ago, the market for electric vehicles was much less robust compared to now due to limitations in battery development. 

Thomas Forner, Founder & President, Focused Energy on a panel with other fusion innovators.

But with support from governments, electric vehicles are today a thriving commercial industry. “(Lasers) are built like satellites, but we have to build them like cars,” quipped the panellist. 

Successful commercialisation of fusion technology will have payoffs beyond the energy sector, agreed panellists. Fusion reactions can help to produce medical isotopes such as tritium, which has a variety of clinical uses including diagnosing cancer and AIDS. 

Fusion neutrons, which are released during the fusion of atomic nuclei, also have applications in the defense and space industry. They are used in radiation hardening testing, which involves designing electronics to withstand high radiation. 

Panel discussing the applications of fusion energy. (L to R: Talmon Firestone, CEO, Astral Systems; Masami Hayashi, Executive Officer (Global Strategy Director), Clean Plane; Tomoaki Imai, COO, MiRESSO; Xavier Garbet, Professor / Research Director, CEA and NTU; DooWhan Choi, CEO, Enable Fusion; Rob Buckingham, Executive Director at UK Atomic Energy Authority) 

“There are a lot of ways that fusion neutrons can be used to make a meaningful impact in adjacent industries,” a panellist said. 

While there is still some way to go, the future of fusion is bright. As the industry grows, so does its appetite for talent. 

Even though the United Kingdom is looking to train between 2,000 to 3,000 more people in the fusion space by 2030, there isn’t much of a fusion talent ecosystem in Singapore, said one speaker. Attracting quality talent will be key in unleashing fusion’s potential in the Lion City. 

“What I find works is to tell people that you have a chance to be part of the next generation of energy,” said one panellist. “You give people a chance to make a difference.”