{"id":94022,"date":"2023-12-05T02:02:15","date_gmt":"2023-12-05T01:02:15","guid":{"rendered":"https:\/\/efecomunica.efe.com\/?p=94022"},"modified":"2023-12-05T17:25:47","modified_gmt":"2023-12-05T16:25:47","slug":"canadian-government-awards-new-funding-to-general-fusion","status":"publish","type":"post","link":"https:\/\/efecomunica.efe.com\/en\/canadian-government-awards-new-funding-to-general-fusion\/","title":{"rendered":"Canadian Government Awards New Funding to General Fusion"},"content":{"rendered":"
Statement issued by the company (Announcement)<\/div>\n

Today, General Fusion announced that Canada\u2019s Strategic Innovation Fund (SIF) has awarded CA$5 million to support research and development<\/strong> to advance the company\u2019s Magnetized Target Fusion (MTF) demonstration at its Richmond headquarters. Called LM26, this ground-breaking machine will progress major technical milestones required to commercialize zero-carbon fusion power by the early to mid-2030s. The funds are an addition to the existing contribution agreement with SIF, to support the development of General Fusion\u2019s transformational technology.<\/p>\n

Fusion energy is the ultimate clean energy solution. It is what powers the sun and stars. It\u2019s the process by which two light nuclei merge to form a heavier one, emitting a massive amount of energy. By 2100, the production and export of the Canadian industry\u2019s fusion energy technology could provide up to $1.26 trillion in economic benefits<\/strong> to Canada. Additionally, fusion could completely offset 600 MT CO2<\/sub>–<\/sub>e emissions, the equivalent of over 160 coal-fired power plants for a single year. When commercialized, a single General Fusion power plant will be designed to provide zero-carbon power to approximately 150,000 Canadian homes<\/strong>, with the ability to be placed close to energy demand at a cost competitive with other energy sources such as coal and natural gas.1<\/sup><\/p>\n

Quotes<\/strong><\/h2>\n

\u201cFor more than 20 years, General Fusion has advanced its uniquely practical Magnetized Target Fusion technology and IP at its Canadian headquarters. LM26 will significantly de-risk our commercialization program<\/strong> and puts us on track to bring our game-changing, zero-emissions energy solution to Canada, and the world, in the next decade,\u201d said Greg Twinney<\/strong>, CEO, General Fusion.<\/p>\n

\u201cFusion technology has the potential to completely revolutionize the energy sector by giving us access to an affordable unlimited renewable power source. Since General Fusion is at the forefront of this technology, our decision to keep supporting the company will give us the tools we need to reduce greenhouse gas emissions and reach our climate goals. Our government is proud to invest in this innovative project<\/strong> to drive the creation of hundreds of middle-class jobs and position Canada as a world leader in fusion energy technology,\u201d said The Honourable Fran\u00e7ois-Philippe Champagne<\/strong>, Minister of Innovation, Science and Industry.<\/p>\n

“British Columbia has a thriving innovation economy. In August, the B.C. Government announced CA$5 million in provincial support<\/strong> for General Fusion\u2019s homegrown technology, and we\u2019re pleased to see the Federal government has now provided funds to support General Fusion. These investments will help General Fusion as they continue to develop their core technology right here in B.C.,\u201d said Brenda Bailey<\/strong>, B.C. Minister of Jobs, Economic Development and Innovation.<\/p>\n

Quick Facts<\/strong><\/h2>\n