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  • Friday, November 22, 2024

DOE Opens $50M Funding Opportunity for Industry-Led Fusion Tech Projects

The Department of Energy is investing up to $50 million in a new program to help private sector organizations develop fusion power systems.

DOE said Thursday the funding initiative provides U.S. businesses an opportunity to partner with national laboratories and universities to demonstrate the commercial viability of fusion pilot plant concepts.

The DOE Office of Fusion Energy Sciences set a Dec. 15 deadline for submitting applications.

Selected participants will conduct pre-conceptual design and technology roadmap development efforts within 18 months after the award.

The department plans to issue additional funds if a project team meets certain milestones while working toward completing full conceptual FPP designs over the potential five-year program.

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