2025年的全球核聚变产业（英）-FUSION

The global fusionindustry in 2025Fusion Companies Survey by the Fusion Industry Association32The global fusion industry in 2025The global fusion industry in 2025Contents Foreword 4The headline figures this year 6Five year trends: 2021 - 2025 8The fusion industry in 2025 10Profiles of today's fusion players 1854The global fusion industry in 2025The global fusion industry in 2025Finally, access to funding remains a major issue for fusion companies, underscoring the long development timelines and capital intensity of the industry. Across the board, the responses highlight that while fusion’s promise is within reach, sustained progress will require a continuation of technological breakthroughs and financial, regulatory, and policy support.Public-Private Partnerships Grow The amount of public funding that companies identified adding into their capital tables this year increased by 84%, growing by almost $360 million to nearly $800 million in total. It is not only private funds that see long-term benefits to fusion; governments also recognize the economic advantages of nurturing a growing industry that will usher in jobs and expand supply chains. In the last year, government policies in countries like Japan, Germany, China, the United Kingdom, the United States, Korea, Canada, and the European Union have worked to boost their fusion programming. As fusion innovation advances, the industry is generating technological and economic benefits beyond fusion. Fusion companies are spinning out innovations such as magnets and high temperature superconductors, which benefit industries from wind turbines to maglev trains. Just as the space race produced innovations in everything from microchips to wireless communications to cordless drills, fusion research is expanding new possibilities with applications well beyond fusion power.Investor DiversificationInvestor diversity in the fusion sector continues to broaden, reflecting growing confidence across a wide spectrum of capital sources. This year’s survey highlights backing from an expansive range of investors, including deep tech venture capital firms like DCVC, Leitmotif, and Breakthrough Energy Ventures; industrial giants such as Chevron, Siemens Energy, and Nucor; sovereign and quasi-public funds including In-Q-Tel, the European Innovation Council Fund, and Plynth Energy; and strategic players from the wider energy sector like Shell Ventures and Energy Impact Partners. The presence of investors from fields as varied as telecommunications, real estate, and defense – alongside participation from family offices and tech pioneers – underscores fusion’s appeal beyond traditional high tech or clean energy circles. This increasingly diverse investment base is not only providing vital capital, but also helping fusion companies establish commercial partnerships, navigate regulatory landscapes, and prepare for global deployment.Moving Forward with First Customers and SitesToday’s commercial momentum did not exist in