U.S. Fusion Energy Race Heats Up

Bob Mumgaard, CEO of Commonwealth Fusion Systems, shared his thoughts on the growing global competition for fusion energy, which he believes could significantly influence America’s energy leadership.

Reflecting on the Cold War, when the U.S. and Soviet Union were vying for supremacy in various fields, Mumgaard pointed to a pivotal moment on October 4, 1957, when the Soviet Union launched Sputnik. This event marked the beginning of the Space Age. Fast forward nearly 70 years, and the U.S. finds itself in another technological race, this time with China in the realm of fusion energy. Mumgaard commented that Washington might soon face a “Sputnik moment” given China’s rapid advancement.

“Fusion is at a tipping point,” he told FOX Business. “With significant investments from foreign governments, we’re starting to glimpse the shape of a future fusion industry. The intersection of fusion and AI will make this sector pivotal on the global stage,” he noted.

He added that while the U.S. has been promoting fusion for years, it isn’t currently well-positioned to lead in this emerging field.

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Mumgaard sees China as a fierce competitor. The country’s enhanced focus on fusion energy has raised concerns in the U.S.

In July, the Chinese Communist Party’s official outlet announced the establishment of the China Fusion Energy Corporation (CFEC), a division of China Nuclear Corporation, with a reported investment of about $2.1 billion.

Additionally, the International Atomic Energy Agency has highlighted that fusion energy development has “entered a decisive new phase.” They cited cooperation from 33 countries and thousands of professionals working on tokamaks—devices designed for magnetic fusion. The goal? To prove that nuclear fusion can be a large-scale, carbon-free energy source.

Mumgaard concedes that it’s hard to assess the consequences if China emerges victorious in the fusion race, as the technology itself is unprecedented.

“There’s never been an energy source quite like nuclear fusion,” he said, emphasizing that it doesn’t need extensive land use or underground facilities, adding to its uniqueness.

While it’s uncertain how developments will unfold, he believes that nations, including China, will likely want to harness fusion to fuel their economies.

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As China accelerates its fusion initiatives, Mumgaard cautioned that the U.S. infrastructure remains largely stagnant.

“China’s investment in fusion development could be anywhere from $6 billion to $12 billion in recent years,” he remarked, pointing to their substantial progress in testing facilities and collaborative efforts among universities and companies. “Meanwhile, the U.S. hasn’t modernized its approach since the 1990s,” he added.

Mumgaard is adamant that if the U.S. revitalizes its fusion programs, this could spark a new industrial revolution.

To expedite the U.S. fusion initiative, he suggested that the government consider historical partnerships with the private sector, similar to collaborations seen with SpaceX and Operation Warp Speed.

“There are effective models here that we can adopt for fusion, especially since there’s significant private investment amounting to over $10 billion in current fusion ventures,” he explained.

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Despite concerns about the outdated U.S. fusion program, Mumgaard indicated that local companies are pushing advancements in the field.

Commonwealth Fusion Systems is currently developing the Soonest Possible Advanced Reactor Compact (SPARC), designed to generate more power than it uses, according to Mumgaard, who shared insights from Devens, Massachusetts.

Last year, CFS unveiled plans to finance and operate a grid-scale fusion power plant in Virginia, calling this a “historic moment.” “By the early 2030s, Chesterfield County, Virginia, could be recognized as the birthplace of commercial fusion energy,” he projected.

Mumgaard reiterated the early 2030s timeline while emphasizing the importance of concrete results as indicators of U.S. success in the fusion race.

“The main question is, ‘Are we actually building something?'” he stated. “‘Is it operational? Is it effective?'”

He likened the rapid progress in fusion technology to past developments in AI, noting how ideas can seem distant until they suddenly become mainstream.

“Things feel improbable until we really track the finer details of their progress, and then they can seem inevitable, often overnight,” Mumgaard concluded.