The Canadian government said this week that it would invest about U.S. $37.5 million in General Fusion as a step towards construction of a fusion reactor for the future, while creating around 400 new jobs to boost the economy.The funding is channeled through the Strategic Innovation Fund. “General Fusion will expand its collaboration with post-secondary institutions” in development of a prototype fusion reactor “and employ inclusive hiring practices as the company grows its workforce,” the government said.
Canadians will also expand their intellectual property assets and contribute to a low-impact energy future, according to the statement.
A fact list accompanying the announcement said fusion power “has been proven in laboratories … and results in no carbon dioxide emissions and does not produce high level nuclear waste.”
Fusion reactors also shut down within seconds of a failure, eliminating fears of a meltdown that haunts the fission-based nuclear power industry.
The government also touted the potential for clean technologies to contribute to the Canadian economy. “Clean technologies contributed over $26 billion, or 1.4 percent, to Canada’s gross domestic product in 2016,” the statement said. ‘Of this, $8 billion is exported. Clean technologies also provide approximately 178,000 well-paying jobs.”
Fusion technology has the potential to “revolutionize” the sustainable energy future, said the government.
General Fusion has already received more than $100 million from various investors that include the Canadian government, the Malaysian government and U.S. businessman Jeff Bezos, according to Nuclear Engineering International.
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