Fusion industry body predicts £31 trillion opportunity

Representing the private fusion sector, the FIA is calling for more government support to help get the industry up and running. According to FIA chief executive Andrew Holland, the opportunity for the UK is significant, with several private companies in the sector already well established. 

“The UK is well positioned to attract a major share of this value,” said Holland.  

“But it’s important that it establishes the best possible framework to prevent it from losing its lead before it can reap the commercial opportunities. That is why we are today laying out four policy recommendations to make the UK an even more attractive place for the fusion industry to invest and grow.” 

Responding to an FIA survey, fusion companies said they plan to collectively spend over £1 billion in the next five years. By 2029, fusion developers plan to make final investment decisions for at least 12 major fusion facilities, with notable opportunities in the UK for communities such as Culham and West Burton. The FIA is urging the UK government to step in and help secure that investment. 

“If the UK can persuade a few of these companies to commit to UK facilities, it can capture a significant share of this huge near and long-term economic opportunity,” said Holland, “while also securing its legacy as a leader in fusion – a technology that could provide most of the world’s energy in the second half of the century.”

The four recommendations set out by the FIA are:

• Collaborate with industry to publish a renewed fusion strategy
• Maximise the economic impact of current public programmes to stimulate fusion and its supply chain
• Create clear processes for delivering private fusion projects
• Establish a clear, stable market framework for deploying commercial fusion

“The next five years are crucial,” said Holland. “The UK must act swiftly to take advantage of its decades of investment in fusion and its global leadership on policy frameworks, to ensure it retains and expands its lead in this transformative industry.”

The policy report can be read in full here.