The global fusion industry attracted a record $4.48 billion (£3.34bn) in funding during the 12 months to July 2026, according to the Fusion Industry Association’s latest annual report.
The funding total, raised by 56 fusion companies, is 69% higher than the previous year and brings total investment in the sector since 2021 to $14.24 billion (£10.62bn). The industry now employs more than 16,000 people.
The report highlights several major investment rounds, including Commonwealth Fusion Systems’ $863 million (£644m) Series B2 and Helion Energy’s $465 million (£347m) raise. Inertia Enterprises secured a $450 million (£336m) Series A while Proxima Fusion raised $518 million (£386m).
It also marks the first time the survey has included investment linked to companies preparing to go public. TAE Technologies and General Fusion are both planning Nasdaq listings in 2026 and secured significant new investment as part of the process.
Commercial progress is also accelerating, with six companies already holding siting agreements for future fusion facilities and another four assessing locations. Five companies have signed power purchase agreements or similar commercial commitments while two more are in active discussions.
The report suggests demand from artificial intelligence is helping drive interest in fusion, following agreements including Microsoft’s deal with Helion Energy and Google’s partnership with Commonwealth Fusion Systems.
Despite the record investment, funding remains the sector’s biggest short-term challenge and was cited by 67% of respondents. Most companies, 71%, still expect the first commercial fusion power plants to begin generating electricity during the 2030s.
Andrew Holland, CEO of the Fusion Industry Association, said: “This year’s report shows how far fusion has come – from being defined by national labs and government R&D programs to being dominated by private fusion investment totaling over $4bn (£2.98bn) in just one year.”
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