Will China be a pioneer in nuclear fusion power production?
Nuclear fusion has long been considered a potential solution for producing emission-free energy without generating long-lived radioactive waste. The concept relies on heating hydrogen isotopes to extreme temperatures, causing them to fuse and release vast amounts of energy.
According to a report by the Financial Times, a Shanghai-based start-up, Energy Singularity, is now seeking to raise $500 million to develop a more affordable, next-generation fusion technology, as China competes with Western nations to unlock the commercial viability of this groundbreaking energy source. Founded in 2021, the company is developing a small-scale tokamak—a device that is expected to play a central role in future fusion power plants.
Energy Singularity is one of at least 45 companies across 13 countries working to commercialize nuclear fusion, each utilizing different technological approaches and fuel sources, as noted by the US-based Fusion Industry Association. However, the technology remains immature, with experts cautioning that fusion power plants are still far from guaranteed. Many machines developed so far have struggled to generate enough energy to power even a household appliance like a kettle.
The tokamak technology, originally developed in the United States, leverages high-temperature superconducting (HTS) materials to confine a plasma of heated isotopes at temperatures hotter than the sun. Energy Singularity believes that the challenge of nuclear fusion is more engineering-related than purely scientific. By utilizing innovative HTS magnets, the company has significantly reduced both the size and cost of its fusion devices.
Ye Yuming, Energy Singularity’s chief operating officer and co-founder said in an interview to FT that US-based fusion efforts may benefit from a more favorable funding environment, but Energy Singularity expects to capitalize on China’s robust supply chains for critical fusion materials, including HTS components. The company reports that approximately 95% of the materials used in its first device were sourced locally, underscoring China’s longstanding expertise in nuclear power technology, he added. Additionally, the lower costs of materials and labor in China provide a competitive edge.
Despite these advancements, the company acknowledges that there are still scientific uncertainties, particularly as they push toward generating stronger magnetic fields.
Energy Singularity has already raised about $110 million to fund the development of its pilot tokamak, which began operations in June. The start-up has grown to about 135 employees and aims to secure $500 million in upcoming fundraising rounds to support the development of a larger, next-generation fusion device by 2027. This new machine is expected to generate significantly more power, with the goal of commercializing the technology by 2035.
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