GuShiio.com ① China’s nuclear power plans to invest 1 billion yuan in controllable nuclear fusion;
② Controllable nuclear fusion technology is still in the development stage, and the results of this investment are uncertain.
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Financial Union, February 28 (Reporter Liang Xiangcai)China’s nuclear power (601985.SH) has invested 1 billion yuan, which is promoting the further development of research in the field of nuclear fusion in my country to commercial applications. The company also stated in its risk warning that controllable nuclear fusion technology is still in the development stage and the results are uncertain.
Tonight, China Nuclear Power announced that it plans to participate in China Fusion Energy Co., Ltd.(hereinafter referred to as “Fusion Company”) through capital increase, with an investment amount of 1 billion yuan.
According to calculations, this foreign investment event constitutes a related party transaction, but it will not meet the conditions for material asset reorganization stipulated in the “Measures for the Management of Material Asset Reorganizations of Listed Companies” and does not constitute a material asset reorganization. This transaction is planned to be in cash and will not involve the company’s issuance of shares and will not lead to a change in the company’s control.
Regarding the reasons for this investment, China Nuclear Power stated that in order to respond to the country’s future industrial strategic development requirements, implement the “three-step” strategy of nuclear energy, promote the development of the fusion industry, and proactively deploy the nuclear fusion energy field to lay the foundation for future commercial application of fusion reactors.
Review the development history of nuclear fusion in my country in recent years. In December 2023, the Fusion Company was officially unveiled; the controllable nuclear fusion innovation consortium led by China Nuclear Corporation and composed of 24 central enterprises, scientific research institutes, universities, etc. was announced in Chengdu, Sichuan.
Since 2025, my country has also made new progress in research in the field of nuclear fusion.
In January, according to the Hefei Institute of Material Sciences of China Academy of Sciences, the institute’s scientific team successfully developed the high-current linear plasma device “Chixiao”. After identification by the expert group, the “Chi Xiao” parameter has reached the design index, making my country the second country in the world after the Netherlands to have such a device.
It should be pointed out that China nuclear power also issued a risk warning in tonight’s announcement: controllable nuclear fusion technology is still in the development stage, technological breakthroughs require long-term research and a large amount of capital investment, and the results are uncertain. Due to the high difficulty of technology research and development and the long industrialization progress cycle, it is unlikely that investment fusion companies will achieve profits in the short term, and there is also a risk of failure in commercialization.
It is worth mentioning that the “three-step” development strategy for nuclear energy development, namely “hot reactor-fast reactor-fusion reactor”, was jointly convened by the former State Planning Commission and the State Science and Technology Commission in 1983. It was proposed for the first time.
As for how to implement the next step of nuclear energy’s “three-step approach”? Yu Jianfeng, Party Secretary and Chairman of CNNC, responded at the Nuclear Energy “Three Steps” Academician Forum held in July 2024.
Yu Jianfeng said: First, vigorously promote the development of thermal reactors, promote the technical optimization and large-scale development of “Hualong-1”, promote the commercial promotion and multi-purpose application of high temperature gas-cooled reactors, and promote the global promotion of small reactors. The second is to accelerate the development of fast reactors, develop million-kilowatt commercial fast reactors, focus on promoting the research and development of integrated fast reactors, and strive to achieve integrated fast reactor engineering demonstrations before 2035. Large-scale reprocessing plants will be completed and put into operation, with conditions for commercial application. The third is to actively promote fusion research and development, build a world-class China fusion platform enterprise, carry out deuterium and tritium tests, actively deploy future fusion industries, and build fusion pilot experimental reactors and commercial demonstration power stations as soon as possible.
Nuclear fusion energy is regarded as the ideal ultimate energy source for mankind and has outstanding advantages such as abundant fuel, cleanliness, high safety, and high energy density. Controllable nuclear fusion is a controllable and sustainable nuclear fusion reaction with the goal of achieving safe, sustained and smooth energy output.
According to the “2024 Global Fusion Industry Report” released by the Nuclear Fusion Industry Association, nuclear fusion companies plan three commercial reactors before 2030, 22 units in 2030-2035, and 6 units in 2036-2040. Combined with data from the ITER device and FIRE project, it is estimated that the global nuclear fusion device market size is expected to reach 2.26 trillion yuan between 2030 and 2035.
