Global supply chain spending by fusion companies increased by 73% in 2024 to USD434 million, compared with about USD250 million in 2023, according to the Fusion Industry Association. Spending is projected to grow by another 25% this year to USD543 million.

US fusion energy developer Type One Energy announced it has successfully completed the first formal design review of Infinity Two, its 350 MWe fusion pilot power plant using its stellarator technology.

Fabrication and testing of the sixth and final 110-tonne superconducting magnet for the ITER fusion machine's 18-metre-tall central solenoid has been completed in the USA. Assembly of the central solenoid is expected to begin soon.

The new kit was demonstrated at the Monaco Clean Fusion Forum, which also saw a memorandum of understanding signed with eight universities and research institutions who will each use one of micro-fusion specialist Alpha Ring's Alpha-E devices.

British inertial fusion energy developer First Light Fusion and systems, engineering and technology company Frazer-Nash Consultancy have announced plans for collaborative research to advance fusion energy.

The UK government has announced GBP20 million (USD25.5 million) to kickstart Starmaker One – a British private fusion investment fund that it says will help fusion businesses and start-ups in the sector grow and commercialise at scale.

US private fusion company Commonwealth Fusion Systems has installed the disc-shaped stainless steel cryostat base, marking the start of the assembly of the SPARC tokamak. Meanwhile, Fusion for Energy has completed the manufacture of the eight torus and cryostat cryopumps for the ITER tokamak.

The extended funding round is intended to support Germany-based Marvel Fusion's transition from its research and development phase towards industrial deployment.

A report commissioned by Nottinghamshire County Council outlines predicted economic benefits of the UK's prototype fusion energy power plant to be built at West Burton near Retford.