The world’s leading energy and industrial company advising General Fusion on the development of practical commercial fusion power
Vancouver, British Columbia, April 4, 2022 (GLOBE NEWSWIRE) —General Fusion today announced the establishment of its own Market Development Advisory Board (MDAC) to guide the development of commercial fusion power plants. Members of MDAC include utilities that serve millions of customers, innovative renewable energy providers, and leading companies in the decarbonization of heavy industry. These companies span global markets that require carbon-free on-demand electricity to meet their increasingly ambitious net-zero carbon emission policy goals. Many bring extensive expertise in valuing, deploying and operating commercial power assets.
With a global network of General Fusion investors and governments, institutions and industrial partners, the company can pursue a more ambitious commercialization program for fusion technology. General Fusion actively engages the market through MDAC, forming a portfolio of future early fusion adopters to ensure that the performance and specifications of magnetized target fusion power plants meet customer needs. MDAC monitors the development of General Fusion technology, understands when and how Fusion is included in new energy generation plans, guides the development of appropriate regulatory frameworks, and impacts the company’s future product development. Providing a mechanism benefits your membership.
Launched by approximately 12 member companies across North America, Asia Pacific, and Europe, MDAC supports General Fusion in the design of practical and compelling fusion power plants that can be deployed by the early 2030s. MDAC also encourages and supports opportunities to develop public energy policies that promote early adoption of commercial fusion power plants as part of the energy transition to NetZero Carbon.
“It’s time to open up the global market for fusion energy. Companies are increasingly aware that fusion is needed to achieve NetZero’s mission and aspirations.” General Fusion, CEO, Christopher Morley.. “Our Market Development Advisory Board can help guide General Fusion in addressing this need using partnership and collaboration strategies.”
“Bruce Power is committed to the future of net-zero and advances in clean energy technology that are essential to reducing greenhouse gas emissions,” he said. Richard Holobin, Vice President of Business Development and Energy Innovation, Bruce Power.. “Fusion is an important emerging technology that complements the emission-free electricity we produce. We look forward to working with General Fusion by leveraging our experience and expertise in innovation, clean energy production and policy development. increase.”
“The road to net zero means developing new sources of clean energy and reducing reliance on imported fossil fuels, given the current problems of the global energy market and the situation in Ukraine. It’s even more important. ” E.ON UK, CEO, Michael Lewis.. “Energy-intensive industrial customers especially need alternative technologies to reach their net-zero goals and stay competitive in their markets. Researched in collaboration with General Fusion as the UK’s largest utility. We are pleased to have the opportunity to do so. How the market for their products can evolve in the UK and develop new ways to respond to the climate. “
“H2 Green Steel is on a mission to embark on the largest technological shift in history in the global steel industry.” H2 Green Steel, CEO, Henrik Henriksson.. “That’s why we’re working with General Fusion to explore the global scalability of technology, without being constrained by domestic power generation constraints. Fusion energy accelerates the decarbonization of steel production. There is a possibility. We look forward to working with General Fusion on the practical application of fusion energy in heavy industry. “
“Our DNA is to specialize in renewable energy and pioneer sustainable and innovative technologies,” he said. Renexia, General Manager, Riccardo Toto.. “That’s why we join the International Committee on General Fusion to help bring clean fusion energy technology to market. The committee represents the energy sector in Italy. Fusion energy is fossil fuel. We hope it will be an additional opportunity to promote an energy mix that is less dependent on. “
“Nuclear power now provides more than 40% of the electrical energy produced by TVA to people and businesses servicing in seven states,” he said. Joe Hoagland, Vice President of Innovation & Research, Tennessee Valley Authority (TVA).. “The development of advanced nuclear and other technologies is important for future TVA energy systems. The recent support of Congress for a public-private partnership that promises to accelerate the growth of fusion is encouraging until 2050. We will continue to seek business relationships to innovate new clean energy technologies to support TVA’s goal of zero carbon dioxide emissions. “
General Fusion Magnetized Target Fusion removes the traditional technological barriers to providing an economical fusion power plant. The company recently reached a key technology milestone, demonstrating the advanced engineering capabilities needed to extend compression prototypes to full-power systems. In late 2022, the company expects to celebrate a new milestone when it begins construction of a fusion demonstration plant at the United Kingdom Atomic Energy Corporation’s Fusion Energy Center. The Fusion Demonstration Plant will create a template for the first commercial power plant in General Fusion. Check the performance and economics of your company’s technology on a power plant-related scale.
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General Fusion Market Development Advisory Board (MDAC) member companies
About General Fusion
General Fusion seeks a fast, efficient and collaborative path to practical fusion power. By the 2030s, we have completed an aggressive development plan to provide economical carbon-free fusion energy using our unique magnetized target fusion technology. Our mission is supported by the global syndication of leading institutional investors, venture capital and technology pioneers, along with governments in North America and Europe. General Fusion works with our global network of partners to create a sustainable future built on cleaner energies, better materials, and a comprehensive lifecycle approach to global infrastructure. .. Founded in 2002, we are headquartered in Vancouver, Canada, with an additional center in the same location as the internationally recognized Fusion Institute near London, UK, and in Oak Ridge, Tennessee, USA. .. For more information, please visit www.generalfusion.com.
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