Oxford nuclear fusion firm wins funding from Washington - The Times
Oxford nuclear fusion firm wins funding from Washington
A technology company based in the UK has secured funding from the United States government to push ahead with its plan for a nuclear fusion power plant — and the prospect of developing abundant clean energy.
Tokamak Energy, which has its headquarters in Oxford and counts the hedge fund tycoon Sir David Harding among its backers, is one of eight groups that will share $46 million from the US Department of Energy.
The money is part of the milestone-based fusion development programme, Washington’s big drive to turn fusion into a commercial reality by bringing selected firms together with government-funded national laboratories and top universities.
Tokamak is one of several British firms racing to prove that the technology is viable. Warren East, former chief executive
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.