Innovation

General Fusion’s proprietary plasma injector technology will enable clean, affordable energy for many individuals around the world. Using magnets, General Fusion can contain the plasma needed to enable fusion reaction and generate energy. This energy generation method does not release any greenhouse gasses or carbon dioxide and requires only a small amount of seawater as fuel. At $50-65 per megawatt-hour, the electricity generated by this technology is affordable and is also able to compete with other baseline power generation technologies, such as coal-fired power plants. This aspect of the innovation allows General Fusion to enable UN Sustainable Development Goal 7: Affordable and Clean Energy.

By researching electricity production using nuclear fusion, General Fusion is enabling technology with the power to hugely reduce the carbon footprint of countless individuals around the world. Since Nuclear fusion energy does not rely on specific environmental conditions to work (i.e., wind power), it can generate electricity at any time, regardless of whether the wind is blowing. Power generation technologies with this property are known as “baseline power” as they can always be relied on to work. This technology puts General Fusion in a position to compete with other fossil-fuel-powered energy. General Fusion’s technology is designed to retrofit it in existing coal-fired power plants to convert them into fusion plants that produce clean energy. This innovation enables UN Sustainable Development Goal 13: Climate Action.

As society develops and new technologies are created, our need for electricity constantly grows. At the same time, climate change and its impacts are only more visible with each passing year. As a society, we need a way to generate electricity without relying on fossil fuels. Electricity can be generated using nuclear fusion to support our growing economy without destroying the environment. Because of this, General Fusion enables progress toward UN Sustainable Development Goal 8: Decent Work and Economic Growth.

Inspiration

Joining General Fusion in 2020, Greg Twinney set his sights on creating a sustainable future. During his time in well-established executive leadership roles, Greg Twinney has found “financial gain less rewarding than leaving a legacy of positive change.” In the hopes of convincing shareholders and investors of this same ideology, Greg Twinney is leading General Fusion in this ever-important race to bring fusion energy to the global market. Disrupting dirty energy industries, implementing fusion technology, and pushing for a restructuring of the global energy sector is nothing short of challenging; when asked why he wanted to take on the job, Greg replied, “Someone’s gotta save the world, why not me?” As the saying goes, the biggest threat to our planet is the belief that someone else will save it. By challenging current principles, it is essential to incorporate the preservation of the earth into existing business models.

Overall impact

The innovation of using plasma injectors generates fusion energy; General Fusion has the potential to create and distribute energy globally without any carbon emission. This process will lead to a positive impact on the world by slowing down global warming. It can also power more electricity at lower cost, such as $50 to $65 per megawatt per hour, compared to coal which generates carbon emissions. Moreover, it is considered much safer than nuclear fission plants, which have caused disasters like Chernobyl. The events of Chernobyl led to the death of around 50 people from large amounts of radiation expelled from the plant; a large portion of the country’s land was sealed off for hundreds of years to block the effects of this radiation. The government had to relocate over 300,000 people, which affected the money supply in the economy and the government.

Therefore, with the help of fusion energy which generates electricity by using plasma and hydrogen atoms, General Fusion minimizes all the risks of a nuclear fission plant since the fusion reaction involved does not produce radioactive waste. Comparing fusion energy to fission energy, fusion energy cannot be weaponized, which indicates the safety of this method of energy production. Furthermore, with the help of fusion energy, in the upcoming decade, when the electricity demand is expected to triple- General Fusion will be ready to supply the world's power.

Business benefit

The innovation General Fusion provides has many benefits for the business. Because the expected demand for electricity is said to triple by 2050, the need to reduce emissions globally while providing a source of energy is increasingly important. The innovation that the business is pursuing attracts investors for the potential of a future that will come from developing nuclear fusion, and finally, with 202 employees of high-class education employed. As a continuously growing business, retention is only increasing.

With consumers and stakeholders calling for climate action, creating a more efficient and cleaner energy source is something highly sought after. The current goal in sight for General Fusion is looking to raise another billion dollars on top of the current $300 million (USD) raised. Between now and 2027, to demonstrate energy in the UK by opening the first major factory-sized powerplant to continue the development of nuclear fusion. A move like this creates a greater global awareness for the business and will make realizing their goals a reality.

Once this innovation is demonstrated on a larger scale - for example, their demonstration plant in the UK - this can aid in their ability to raise capital and thus become far more sufficient. The company will likely be going public in the coming years, depending on how quickly growth and recognition are amassed.

Social and environmental benefit

The Intergovernmental Panel on Climate Change (IPCC) has deemed the 2020s as the "decisive decade," meaning that if significant efforts to mitigate climate are not taken before the year 2030, the damage inflicted on the planet’s natural systems from human activities will be irreversible. Energy is vital for global economic prosperity and equity, but our production methods and energy demand are propelling climate change at an unprecedented rate. Burning dirty non-renewables for energy production has detrimental impacts on the planet’s ecological health clean energy sources are becoming increasingly attractive and are in greater demand than ever. While clean energy sources such as wind and solar effectively reduce carbon emissions, their energy output isn’t sufficient to meet energy demands. Present-day nuclear energy production is fueled through fission reactions using Uranium – loss of coolant accidents has resulted in devastating impacts, as shown through Chernobyl and Three Mile Island. This drawback leads to General Fusion’s innovation and what benefits they offer. Despite enormous hurdles, the most promising form of sustainable energy security is nuclear fusion energy, the Holy Grail of clean energy. Once commercialized, General Fusion has the potential to phase out dirty energy sources, offering a solution to meeting global carbon goals while also providing affordable and sustainable energy security across the globe. General Fusion's work helps contribute to accomplishing the following UN SDGs, (7) Affordable and Clean Energy; (9) Industry, Innovation, and Infrastructure; (11) Sustainable Cities and Communities; (12) Responsible Consumption and Production; and (13) Climate Action. Fusion power plants are geographically unconstrained, require minimal land to operate, can be placed near consumers, have no radioactive or long-term waste, and do not emit carbon dioxide or greenhouse gases. Having the ability to deliver a net-zero future, General Fusion has the ability to help mitigate climate change on a grand scale.

Interview

Greg Twinney, CEO