...AND CHEAPER...:

[A]dvocates of fusion technology say it has many parallels with the space industry. That, too, was once confined to government agencies but is now benefiting from the drive and imagination of nimble (albeit often state-assisted) private enterprise. This is "the SpaceX moment for fusion", says Mowry, referring to Elon Musk's space-flight company in Hawthorne, California.

"The mood has changed," says Thomas Klinger, a fusion specialist at the Max Planck Institute for Plasma Physics (IPP) in Greifswald, Germany. "We can smell that we're getting close." Investors sense the real prospect of returns on their money: Google and the New York City-based investment bank Goldman Sachs, for instance, are among those funding the fusion company TAE Technologies, based in Foothill Ranch, California, which has raised around $880 million so far. "Companies are starting to build things at the level of what governments can build," says Bob Mumgaard, chief executive of Commonwealth Fusion Systems (CFS), based in Cambridge, Massachusetts.

And just as private space travel is now materializing, many industry observers are forecasting that the same business model will give rise to commercial fusion -- desperately needed to decarbonize the energy economy -- within a decade. "There's a very good shot to get there within less than ten years," says Michl Binderbauer, chief executive of TAE Technologies. In the FIA report, a majority of respondents thought that fusion would power an electrical grid somewhere in the world in the 2030s.

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