Learn the multi-faceted points set out in a sold-out invited speech by our General Partner, Matthew Chase Levy, at Seattle Fusion Week in October 2024.
If you’d like, you can watch the video here. It is a 10 minute talk followed by a 15 minute panel.
Who Coined “Power Too Cheap to Meter”?
The now-famous phrase “power too cheap to meter” was coined by Admiral Lewis Strauss in 1954. In his address to the National Association of Science Writers, he spoke about the transformative potential of nuclear energy, envisioning a future where energy would be so abundant and affordable that it wouldn’t even be worth the cost of metering it.
Why Fusion?
Fusion, the process that powers the sun, has long been hailed as the holy grail of clean energy. It offers a compelling solution to our growing energy needs, providing a clean, safe, and virtually limitless power source. Unlike traditional nuclear fission, fusion produces no long-lived radioactive waste. And unlike renewable sources like solar and wind, fusion can provide baseload power 24/7, regardless of weather conditions.
Why Fusion? Why Now?
The need for fusion is becoming increasingly urgent. The demand for energy is skyrocketing, driven by factors such as population growth, industrialization, and the rise of energy-intensive technologies like artificial intelligence. Data center power demand alone is projected to reach 1,300 TWh by 2030, with AI large language model (LLM) data centers accounting for a growing share of total energy sales.
How Do We Bring It to Life?
To accelerate the development and commercialization of fusion energy, we need to adopt a multi-faceted approach:
Step 1: Apply Economics 101 (and use AI)
Fusion energy represents the supply side of the equation, offering a clean, sustainable, and virtually limitless power source. On the demand side, the rise of AI and other energy-intensive technologies is driving an exponential increase in energy consumption. By investing in both the supply and demand sides of this equation, we can create a virtuous cycle that accelerates the adoption of fusion energy.
Step 2: Invest in Software
Hardware and software platforms are essential for accelerating fusion research and development. AI-powered simulation and modeling tools can analyze vast amounts of data from fusion experiments, identifying patterns and insights that would be impossible for humans to discern. This can lead to significant improvements in fuel design, plasma confinement, and overall efficiency.
Step 3: Gain an “Unfair Advantage”
By leveraging our technical capabilities, particularly in AI and machine learning, we can gain a significant advantage in the race to commercialize fusion energy. AI is already accelerating fusion research, potentially bringing the technology to market 2-3 times faster.
Step 4: Look for Opportunities Where No One Else Is
The intersection of fusion and AI is a fertile ground for innovation and investment. There are still many unanswered questions and challenges in this field, creating opportunities for investors to support the development of groundbreaking technologies.
The Fusion Market Outlook
The global fusion energy market is poised for explosive growth. Allied Market Research projects that the market will reach $430 billion by 2030, a 20x increase from its current value. There are already several fusion companies with valuations exceeding $1 billion.
A Call to Action for Investors
The fusion revolution is underway. Now is the time for investors to seize the opportunity and help shape the future of energy. By supporting the development and commercialization of fusion energy, investors can not only generate significant financial returns but also contribute to a cleaner, more sustainable world.