Private fusion attracting investment and boosting jobs - report

As part of that, total public funding increased by 57 per cent in the last 12 months to $426m. 

The figures come from the Fusion Industry Association (FIA)’s The Global Fusion Industry in 2024 report, which surveyed 45 private fusion companies. 

Total funding came from a range of investments across many of the 45 fusion companies. Notable deals include $100m for Xcimer, $90m for SHINE, and $65m for Helion. 

The US is still the global leader for commercial fusion with 25 companies in the survey, followed by the UK, Germany, Japan, and China, each with three. Switzerland is a new entrant into this year’s report, hosting two fusion companies, while Australia, Canada, France, Israel, New Zealand, and Sweden all have one.  

Job numbers are up too, with over 4,000 people globally employed in private fusion companies, a 34 per cent increase since 2023 (1,034 more employees), and up nearly 300 per cent since 2021 (3,011 more employees). Nearly half of those employed are engineers (48 per cent), a quarter are scientists (25 per cent), and a quarter are in other roles (27 per cent).