Fusion Industry Association Announces Independent Incorporation and Expansion

WASHINGTON, May 5, 2021 /PRNewswire/ -- The Fusion Industry Association (FIA) today officially incorporated as a newly independent non-profit association representing the private fusion industry. The FIA will continue to be led by Andrew Holland and has a new board of directors composed of Bob Mumgaard, CEO of Commonwealth Fusion Systems, Christofer Mowry, CEO of General Fusion, and Michl Binderbauer, CEO of TAE Technologies. Its  25 member companies – all primarily backed by private capital – are pursuing commercialization of fusion energy. The FIA's Affiliate Members include companies, NGOs, and institutions that support the growth of the global fusion energy economy.

These changes will strengthen the FIA at a critical time following President Biden's announcement of ambitious and important decarbonization goals to mitigate a major cause of climate change. These goals include achieving net zero carbon emissions for electricity generation by 2035 and achieving net zero carbon emissions across the entire American economy by 2050. Commercial fusion power plants, using technology developed by FIA's members, will deliver clean energy on the grid in support of these ambitious decarbonization targets.  Fusion is dispatchable, clean power that makes achieving a 100% net zero carbon energy generation for society in a practical and economically competitive manner.

"The fusion industry is poised to help the world achieve the energy transition to net zero carbon emissions. Commercialization of fusion energy will create new jobs and a new industry addressing a trillion-dollar market," said FIA CEO Andrew Holland. "The Fusion Industry Association membership speaks with a unified voice at a time when society is making unprecedented investments into the clean energy transition."

More information about the FIA's expansion, including our team and membership, is available on the FIA website.

About the FIA
The Fusion Industry Association (FIA) is the voice of the fusion industry, working to transform the energy system with commercially viable fusion power. Today, nearly $2 billion in private capital has been invested in companies working to commercialize fusion power. Founded as an initiative in 2018, the FIA has already made its mark in Washington and around the world. As it expands, the FIA will enable the creation of a new industry that will change the world. Learn more about the FIA at www.fusionindustryassociation.org. Follow us on Twitter at @Fusion_industry, on LinkedIn, and on YouTube.

SOURCE Fusion Industry Association

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