to be a global leader in commercial fusion energy" in a written statement shared with CNBC. "I think this decision and the clarity it brings is very positive for the fusion industry and removes a major area of uncertainty for the industry."Ĭommonwealth Fusion Systems, a startup spun out of MIT that's raised more than $2 billion from a notable collection of investors, also supports the decision from the NRC, calling it "a regulatory approach that will enable the U.S. We're very pleased that the NRC commissioners recognized that fusion energy is entirely different from nuclear fission and therefore should not be regulated in the same way," Pravesh Patel, the scientific director for fusion startup Focused Energy, told CNBC. Private fusion companies have raised about $5 billion to commercialize and scale fusion technology, and so the decision from the NRC on how the industry would be regulated is a big deal for companies building in the space. And because nuclear fusion creates virtually limitless quantities of energy with no greenhouse gas emissions and no long-lasting radioactive waste, it has become an area of intense interest to scientists and innovators working to commercialize the process as a climate change solution. Nuclear fusion does not produce that same kind of long-lasting radioactive waste, but it's very hard reaction to obtain. Nuclear fusion happens when two smaller atoms slam together to form a larger atom, releasing energy, which is the way the sun makes power. The options were to regulate it in the same as way as nuclear fission, regulate fusion based on materials involved in the process or take a hybrid approach, Scott Burnell, spokesperson for the NRC, told CNBC.
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4, the staff of the NRC had submitted three recommendations to the commission's decision-making committee for how to regulate fusion. The decision had been in the works for some time. Other differences include looser requirements around foreign ownership of nuclear fusion plants, and the dispensing of mandatory hearings at the federal level during the licensing process, Holland said. "Up until now, there was real uncertainty about how fusion would be regulated in the United States - this decision makes clear who will regulate fusion-energy facilities, and what developers will have to do to meet those regulations," Andrew Holland, CEO of the industry group, the Fusion Industry Association, told CNBC. The Nuclear Regulatory Commission, the top governing body for nuclear power plants and other nuclear materials, announced the results of its vote on April 14. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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