Michael Heumann

Editor-in-Chief, The Fusion Report

LLNL and Pacific Fusion Achieved 3,000 Shots On An Impedance-Matched Marx Generator

LLNL and Pacific Fusion Achieved 3,000 Shots On An Impedance-Matched Marx Generator

Pacific Fusion and Lawrence Livermore National Laboratory announced that Sirius, an impedance-matched Marx generator prototype designed and built at LLNL, has surpassed 3,000 shots under a Cooperative Research and Development Agreement. In the campaign, each pulse of the four-stage prototype delivered 60 gigawatts to a resistive load in a 100-nanosecond pulse at 95% energy efficiency, with the effort focused on component lifetime and reliability. The companies frame the result as evidence that technology developed at a national laboratory can be validated through repeated testing and scaled quickly by industry. Pacific Fusion says it has used the data to build a June prototype that reached roughly 440 GW of peak output power and about 1.1 MV in 80 nanoseconds, and it plans to break ground later this summer on its Demonstration System in Albuquerque, New Mexico. The Fusion Report weighs the milestone against the roughly 31.5 million shots a production pulser would need to run for a year, and the tritium and neutron challenges that remain.

Commercial Fusion Energy Funding Status: Mid-Year 2026

Commercial Fusion Energy Funding Status: Mid-Year 2026

The Fusion Report’s mid-year 2026 funding status finds total lifetime private funding for commercial fusion at $11.52B as of June 30, 2026, up roughly $2.4B from June 2025. Four companies now top $1B in lifetime funding: Commonwealth Fusion Systems ($2.923B), Helion Energy ($1.502B), TAE ($1.321B), and Shine Fusion ($1.040B). Major rounds in the period include CFS at $863M, Helion at $465M, Inertia at $450M, and $240M each for Shine Fusion and Focused Energy. Nuclear fission and SMR startups raised roughly $2B in the same window, while AI captured 70% of global VC funding in Q2 2026 alone. In a July postscript, Proxima Fusion raised €411M ($468M US) in new funding and General Fusion went public on the NASDAQ, lifting industry lifetime funding to $12.18B.

Realta Fusion announces Madison Wisconsin For Its New Fusion Energy Headquarters and Research Facility

Realta Fusion announces Madison Wisconsin For Its New Fusion Energy Headquarters and Research Facility

Realta Fusion announced it will build its corporate headquarters and fusion R&D facility, “The Realta Forge,” at OM Station, the former Oscar Mayer plant in Madison, Wisconsin. The state and city committed up to $55 million in incentives: an estimated $37.5 million in state sales and use tax exemptions, up to $15 million in WEDC enterprise zone tax credits, and $2.8 million in city tax increment financing. Realta expects to create over 600 jobs and to break ground before the end of the year on the facility where it will build Hammir, its prototype magnetic mirror fusion machine. The deal follows Wisconsin Act 165, the first standalone state law in American history to exempt fusion energy capital expenditures from state sales tax. The Fusion Report looks at why the hometown choice makes sense and what it signals about Realta’s next funding round.

Arbor Energy: 3-D Printing Gas Turbines (and Money)

Arbor Energy: 3-D Printing Gas Turbines (and Money)

With wait times for large gas turbines now exceeding five years, Arbor Energy, founded by former SpaceX engineers, has raised a $55M Series A to advance its 25 MW modular Halcyon turbines, which combine rocket turbopump technology, a supercritical CO2 power cycle, and 3D-printed core components. The company has also secured an order from GridMarket for up to 200 units, reportedly worth billions of dollars.

Cosylab: Giving Control to Production Fusion Systems

Cosylab: Giving Control to Production Fusion Systems

The Fusion Report interviews Mark Pleško, CEO of Cosylab, a 250-person Slovenian company that has built control systems for ITER, UKAEA, and major research labs for over two decades. Pleško explains why fusion startups tend to treat controls as a problem to solve later, what that technical debt costs them, and how the Fusionics initiative co-founded with UKAEA aims to give the industry a standard control framework.

Workers with Helical Fusion's Helix Machine

Helical Fusion Progresses on Construction of Their First Production Power Plant

Helical Fusion has added a long-established Japanese general contractor to its Helix Program as an Official Partner and signed a memorandum of understanding to collaborate toward the construction of Helix KANATA, the company’s fusion pilot plant targeted for the 2030s. The two firms will examine construction requirements and project execution approaches for future fusion power facilities. The contractor joins the earlier Official Partners announced in April 2026 in building out the industrial foundation for commercial fusion in Japan.

Commonwealth Fusion Systems and the UK Atomic Energy Authority Team Up on Tritium Production

Commonwealth Fusion Systems and the UK Atomic Energy Authority Team Up on Tritium Production

Commonwealth Fusion Systems has become the first international partner in the UK Atomic Energy Authority’s LIBRTI program, a £220 million effort to demonstrate net tritium production for fusion power plants. The two organizations will jointly design the experimental setup and run investigations at a new facility being built at UKAEA’s Culham Campus, which will draw on a high-flux neutron source from Shine Technologies. CFS, which describes itself as the best-funded fusion company with more than $3 billion raised, will build the test articles used to validate the tritium breeding blanket design for its ARC power plant planned for Virginia. Tritium breeding blankets are a shared engineering challenge across fusion approaches, and cross-company collaboration on the technology is becoming more common as the industry moves toward first-of-a-kind machines.

WHAM Device

Realta Demonstrates Direct Energy Conversion In a Fusion Energy Setting

Realta Fusion demonstrated direct energy conversion (DEC) of plasma kinetic energy into electricity at the WHAM fusion machine at UW-Madison, drawing current at about 100 volts to light several bulbs. The company describes it as the first such demonstration by a commercial fusion company and points to DEC as a way to raise efficiency and lower cost in its planned mid-2030s plants.

The Impact of AI and the Data Center Goldrush on Non-Data Center Construction Costs

The Impact of AI and the Data Center Goldrush on Non-Data Center Construction Costs

The AI data center buildout is pushing up costs well beyond electricity and water. A recent study finds it is also raising the price of construction materials and skilled labor while absorbing capital that non-data-center projects, including commercial fusion, are competing for. The Fusion Report looks at who pays, who benefits, and what the $6.7 trillion data center forecast means for fusion’s race for investment.

E&P Technologies: Putting the Lightning into Capacitors for Fusion and Aerospace

E&P Technologies: Putting the Lightning into Capacitors for Fusion and Aerospace

As fusion energy moves closer to commercial deployment, The Fusion Report is expanding its coverage of the fusion supply chain. This piece profiles E&P Technologies, a Melbourne, Florida startup building high voltage pulsed power capacitors for fusion and aerospace, and includes an interview with co-founder and CEO Caroline Sorrick on US manufacturing and how rapidly evolving fusion requirements affect suppliers.

Watch on demandFusion 2035, from the companies building itPast Forum speakersCommonwealth Fusion SystemsPacific FusionXcimer EnergyITERThea EnergyType One EnergynT-Tao, Inertia, Realta Fusion and moreNext forum: Thursday, February 11, 2027. Free to attend.Watch the replays