As investment into fusion energy has risen dramatically over the last few years, developments in the fusion process, materials, and supply chain are not only pushing the boundaries for reactors but also creating new opportunities for integration and application across various industries. This is impactful because adding an additional customer base to the existing pool of fusion players driving demand for supplies can further drive commercialization for specific and niche parts.
The number of suppliers for the fusion industry has been steadily increasing. Fusion Energy Base has been continuously adding new suppliers to their list as many corporates and innovators are eager to develop technologies that will address the needs of the growing fusion industry. Supplies that are needed range from common electronic components like capacitors, laser diodes, transistors, and power supplies to more niche supplies such as gyrotrons, high temperature superconducting magnets and tape, and tritium and deuterium compounds.
Like other transformative industries before it, fusion and its rapid advancements will leave its mark on a range of other industries including electrical transmission, transportation, and medicine. Selling components into other industries may also be beneficial for companies looking to generate revenue in the short term as they build out their fusion process in parallel.
Examples of Fusion Technologies Impacting Other Industries
High-Temperature Superconducting (HTS) Magnets and Tape: Fusion developers and suppliers like Commonwealth Fusion Systems, MetOx, Furukawa Electric, Faraday Factory Japan have accelerated the production of powerful electromagnets. These superconductors will have applications outside of the fusion industry as well.
VEIR is using HTS technology as part of a system that enables electricity transmission capacity of 5-10X the amount conventional transmission lines do, in the same space. The proprietary cooling system developed by VEIR used alongside superconductor cables/conductors can accelerate siting and permitting issues which are a main cause of delays in building new transmission.
VEIR’s system can use high currents with lower voltages and smaller footprints allowing the solution to potentially overcome some of the challenges associated with high voltage systems. VEIR is currently working with National Grid and is aiming to start commercial projects in 2026. Their use of HTS combined with a novel cooling system significantly reduces the complexity and costs associated with superconducting cables. As HTS technology continues to commercialize and come down the cost curve to meet the demand for fusion operators, technologies like VEIR’s can also see substantial cost reduction.
Another company looking to benefit from the wide range of HTS applications is Tokamak Energy. Recently, aa Financial Times article on the company’s various HTS applications stated that they will support the U.S. Defence Advanced Research Projects Agency (DARPA) to develop silent marine propulsion for submarines. Applications for HTS magnets go well beyond these and can also affect the healthcare field by integrating with MRI scanners in hospitals and other medical equipment.
As Tokamak Energy launches TE Magnetics, it is reported that sales of magnets, sublicensing the technology, and contracts with customers could generate over $8M in revenue next year and over $300M a year by 2030.
Geothermal Drilling Technologies: Techniques used to heat plasma in fusion, such as microwave emitting devices called gyrotrons, can be used to support deeper geothermal exploration. Leveraging technology researched at MIT’s Plasma Science and Fusion Center, Quaise Energy is working towards taking gyrotrons and directing them towards the earth to vaporize rocks and subsurface layers. Gyrotrons are better than traditional drilling techniques for certain layers where mechanical drill bits break down.
However, even with this novel technology, Quaise anticipates using existing oil and gas workforce and drilling rigs which will enable them to commercialize faster. Quaise’s technology will allow for much deeper geothermal drilling of up to 20km which provides access to extremely high temperature and potentially could transform the industry if they are successfully able to harness energy at these depths.
Medical Isotopes: Research related to tritium breeding in fusion reactors has led to more efficient methods to produce medical isotopes such as Molybdenum-99 and Iodine-13. By using the high-energy neutron environment in fusion reactors, companies like SHINE and Astral Systems can produce valuable isotopes in an efficient way, generating less waste than traditional methods.
SHINE in the U.S. is developing a production facility that is expected to be one of the largest globally, aiming to supply nearly half of the global demand for molybdenum-99 (parent isotope of Tc-99m), an isotope used in about 85% of all nuclear medicine diagnostic scans.
Astral Systems in the UK, by using a lattice confinement fusion (LTC) process, is aiming to develop a compact technology that can provide medical isotope production near the point of care, decentralizing the supply chain into smaller distributed facilities ensuring more resiliency.
Most neutron-produced medical isotopes are generated at a small handful of aging fission reactors around the world, with a number of these to be decommissioned by 2030. Such advances in medical isotope production through fusion is therefore necessary to support vital treatment of patients globally.
What’s Next?
As the fusion industry develops and commercializes, additional sources of revenue generated by partnering with other industries can help finance the growth of the fusion ecosystem. This will provide step change improvements in other sectors as well. Investors looking to engage with fusion related technologies should consider the potential opportunities to generate revenue by selling or licensing cutting edge solutions developed in the process to other industries.
