Could fusion energy become one of the most important technologies of this century?
That was the question a group of investors gathered to explore during a recent Move The Money investor breakfast hosted by We Don't Have Time together with Novatron Fusion at KTH Royal Institute of Technology in Stockholm.
The event offered a rare opportunity to step inside Novatron Fusion Group's research facility and see one of Europe's most ambitious fusion energy projects up close.
https://www.youtube.com/watch?v=p_JgEI15fOo&feature=youtu.be
A technology that is always "ten years away."
Fusion energy has long been considered the holy grail of clean energy. Unlike today's nuclear power plants, which split heavy atoms, fusion combines light atoms using the same process that powers the sun. The potential prize is enormous: abundant, fossil-free energy with minimal fuel requirements and no long-lived radioactive waste.
But for decades, fusion has often been described as a technology that is always "ten years away."
At KTH, investors heard why that perception may be changing.
"We have moved from research to industrial development," explained Novatron's leadership team during the visit. Around the world, governments and private investors are increasing their commitment to fusion. The EU has identified fusion as one of its highest-priority strategic technologies.
The growing energy demand.
The rapid expansion of artificial intelligence, data centres and electrification is creating a need for vast amounts of reliable fossil-free power. At the same time, AI itself is accelerating scientific discovery and helping researchers solve complex engineering challenges faster than ever before. According to Novatron, AI tools are already helping solve plasma physics problems that previously took months or years to address.
During the visit, participants toured Novatron One, the company's plasma platform and what Novatron describes as the European Union's first private fully integrated fusion plasma test system.
Founded in 2019, Novatron is developing a unique fusion concept based on a stable mirror-machine design. The company believes it has solved one of fusion energy's most difficult challenges: plasma stability. While many fusion concepts struggle to keep plasma stable long enough to generate useful energy, Novatron's design aims to create a naturally stable plasma configuration.
The scale of the opportunity is difficult to overstate.
Fusion has the potential to provide reliable fossil-free energy for heavy industry, data centres, cities and even future shipping applications. Industry analysts project a multi-trillion-dollar global market if commercial fusion becomes a reality.
"The biggest challenge with fusion is not the technology. It's the money"
Peter Roos, CEO, Novatron Fusion
Peter Roos, CEO of Novatron Fusion
The capital needed to solve the climate crisis already exists. The challenge is directing more of it toward the technologies, entrepreneurs and innovators building the future.
Whether Novatron ultimately becomes one of the companies that commercialises fusion remains to be seen. But after standing next to the machine, meeting the engineers and hearing firsthand about the progress being made, one thing became clear:
Fusion energy is no longer science fiction.
It is becoming an industry.
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