Bob Mumgaard, CEO of the private company Commonwealth Fusion Systems has attracted $50 million in support of a new nuclear fusion project from the Italian energy company Eni. The goal is to have a working power plant in time to combat climate change. They think they have the science, speed and scale to put carbon-free fusion power on the grid in 15 years. This was reported by the Guardian UK.
The team will use a new class of high-temperature superconductors they predict will allow them to create the world’s first fusion reactor that produces more energy than needs to be put in to get the fusion reaction going.
The team which includes MIT researchers will use new superconducting materials to produce ultra-powerful magnets, one of the main components of a fusion reactor.
The planned fusion experiment, called Sparc, is set to be far smaller – about 1/65th of the volume – than that of the International Thermonuclear Experimental Reactor project, an international collaboration.
The experimental reactor is designed to produce about 100MW of heat. While it will not turn that heat into electricity, it will produce, in pulses of about 10 seconds, as much power as is used by a small city. The scientists anticipate the output would be more than twice the power used to heat the plasma, achieving the ultimate technical milestone: positive net energy from fusion.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.