General Fusion announces creation of Market Development Advisory Committee
The MDAC will support General Fusion in designing a practical and compelling fusion power plant that can be deployed by the early 2030s.
Research & Development
Technology / IIoT
Mining & Resources
VANCOUVER — On Apr. 4, General Fusion announced the formation of a unique Market Development Advisory Committee (MDAC) to guide the development of its commercial fusion power plant. MDAC members include utilities serving millions of customers, renewable energy providers, and companies involved in the decarbonization of heavy industry. These companies span global markets in need of carbon-free, on-demand power to meet net-zero carbon emission policy goals.
General Fusion’s global network of investors and government, institutional, and industrial partners enable the company to pursue a reportedly more ambitious fusion technology commercialization program. Through the MDAC, General Fusion is proactively engaging the market to form a portfolio of prospective early fusion adopters to ensure that the performance and specifications of its Magnetized Target Fusion power plant will align with customer needs. The MDAC benefits its membership by providing a mechanism to monitor the development of General Fusion’s technology, understand when and how to include fusion in their new energy generation plans, guide the development of appropriate regulatory frameworks, and influence the company’s future product development.
Launched with nearly a dozen member companies spanning North America, Asia Pacific, and Europe, the MDAC will support General Fusion in designing a practical and compelling fusion power plant that can be deployed by the early 2030s. The MDAC will also recommend and support opportunities to evolve public energy policies promoting the early adoption of commercial fusion power plants as part of the energy transition to net-zero carbon.
“Now is the time to develop the global market for fusion energy. Companies are increasingly recognizing that to achieve their net-zero mandates and aspirations, they’re going to need fusion,” said Christofer Mowry, CEO, General Fusion. “Our Market Development Advisory Committee will help guide General Fusion in addressing this need using a partnership and collaboration strategy.”
“Bruce Power is committed to advancing a net-zero future and clean energy technologies that are essential to reduce greenhouse gas emissions,” said Richard Horrobin, Vice President, Business Development & Energy Innovation, Bruce Power. “Fusion is a key emerging technology that is complementary to the emissions-free electricity we produce. We look forward to applying our experience and expertise in innovation, clean energy production, and policy development to collaborate with General Fusion.”
“The path to net-zero means developing new sources of clean energy and reducing our reliance on imported fossil fuels, which is all the more important given the current issues in global energy markets and the situation in Ukraine,” said Michael Lewis, CEO, E.ON UK. “Energy-intensive industrial customers particularly will need alternative technologies if they are to meet net-zero targets and remain competitive in their own markets, and as the UK’s largest electricity provider, we are pleased to have the opportunity to work with General Fusion to look at how the market for their products could evolve in the UK and develop a new way to take action for the climate.”
General Fusion’s Magnetized Target Fusion reportedly removes the traditional technological barriers to delivering economical fusion power plants. The company recently reached a technology milestone, demonstrating the advanced engineering capabilities needed to scale its compression prototype to a full power system. Later in 2022, the company anticipates celebrating another milestone when it breaks ground on its Fusion Demonstration Plant at the UK Atomic Energy Authority’s Culham Centre for Fusion Energy.