The government is pumping £20 million into a first-of-its-kind private fusion investment fund, Starmaker One, aiming to unlock over £100 million from the private sector.
Fusion, the process that powers the sun, could offer a near-limitless supply of clean energy. But UK companies have struggled to scale up due to lack of investment.
This new fund will help British businesses develop fusion technology, train skilled workers and compete on the world stage.
Energy Secretary Ed Miliband said: “This government is taking back control of Britain’s energy by driving for clean homegrown power through our Plan for Change.” He added that fusion could strengthen energy security while attracting cutting-edge technology and top scientific talent to the UK.
Science Minister Lord Vallance called fusion “a technology with enormous potential,” highlighting its role in creating jobs in regions like Nottinghamshire, South Yorkshire and Oxfordshire, home to the UK’s fusion research hub in Culham.
The investment is part of the government’s wider push for energy independence.
A £410 million commitment was announced earlier this year to advance UK fusion research and international collaborations.
Fusion could revolutionise energy production, with estimates suggesting the global market could be worth trillions in the future.
Starmaker One is the first early-stage fusion energy venture capital fund outside the US and the first to partner with a government investor.
