Gov. Gavin Newsom has signed a new California state law that will provide a notable boost for the fusion energy industry, according to Foothill Ranch-based TAE Technologies, which is racing to provide virtually unlimited energy by recreating on Earth the same process that fuels the sun.
The law, signed earlier this month, recognizes the technology’s safety and environmental benefits while setting the stage for the state’s carefully tailored regulatory framework.
“With this bill’s passage, California’s governor and legislators are recognizing the vast potential of commercial fusion energy to be a part of a clean energy solution that brings carbon-free energy, jobs and a much-needed innovation to our state, and to our world,” said TAE Technologies CEO Michl Binderbauer.
The bill makes California the first state to establish a legal distinction between fusion energy and traditional nuclear fission, which is used at nuclear power plants.
“Fusion energy can advance California’s progress towards its statutory renewable energy and climate mandates,” the legislation notes.
Fusion is often described as “the holy grail” of clean energy.
The law also recognizes the diversity of scientific approaches to achieving fusion’s transformative potential for the California grid for the first time.
“Fusion is inherently safe and deserves a well-considered regulatory path that allows fusion to be developed safely and expediently,” notes TAE, which touts itself as the nation’s first private company to pursue the commercialization of fusion energy.
Thousands of Jobs
State Sen. Josh Newman, a key proponent of the bill, said TAE’s work offers promise “for the creation of thousands of vital, high-skilled jobs.”
TAE is developing fusion that will rely on hydrogen-boron fuel, which it says is safe, abundant, non-radioactive and inexpensive.
Earlier this year, TAE broke ground on a new 100,000-square-foot facility in Irvine, to house its next fusion research machine, Copernicus, which is expected to demonstrate the viability of net energy generation from TAE’s proprietary configuration around the mid-2020s.
With that expected milestone in hand, TAE will develop its first prototype hydrogen-boron fusion power plant, Da Vinci, to deliver electricity to the grid in the early 2030s.
TAE has more than 2,300 patents filed globally and approximately 1,400 granted, more than $1.2 billion in private capital raised, five generations of National Laboratory-scale devices built along with two more in development, and a team of over 600 employees.
$1.2 Billion
TAE’s fusion energy source could be capable of sustaining the planet for thousands of years.
It has attracted investments from companies such as Google as well as Chevron, Reimagined Ventures and Sumitomo Corporation of Americas.
