For 2025 the conference has been expanded to a full two days of panels, presentations, networking and 1-1 meetings on February 12th and 13th. The conference will be followed by a Networking Day on the 14th, built around a visit to the National Ignition Facility at the Lawrence Livermore National Laboratory (LLNL). Please note the Networking Day is for FusionX Members. 8:00 AM - Registration, Coffee & Networking 9:00 AM - Welcoming Remarks The value, market potential and investment opportunities in fusion innovations and spin-outs. Speaker: Mike Dunne, Co-Founder, CTO, and SVP (Fusion Power) - Inertia 9:10 AM - Keynote Interview Dr. Melanie Windridge, Co-founder, FusionX Group in conversation with two leading fusion investors to explore key contextual questions on fusion as an investment opportunity: - Why is investor interest in fusion growing? How investible is fusion? - How attractive are opportunities in non-power applications? - What is needed for fusion to main-stream, and how does it get there? Speakers: Carly Anderson (Co-Founder & Managing Partner - Timescale Ventures), Phil Larochelle (Partner - Breakthrough Energy Ventures), Melanie Windridge (Co-Founder - FusionX) 9:50 AM - Fusion in an Investment Portfolio A panel of leading investors in fusion share their thoughts on fusion as an investment opportunity and how fusion sits with allocations to renewables, alternative energy, deep-tech: - What are expectations, over what time horizon, and how has fusion performed vs. expectations thus far? - Can fusion enhance short- and long-term returns? Does it reduce risk/bring diversification to a portfolio? What’s an ideal weighting towards fusion? - Few and large investments in scientifically mature approaches or several smaller early-stage investments in novel approaches? - Many investors lack the in-house expertise to assess the merits of fusion technology and there is little public research available to assist analysts. How can technical analysis/diligence be effected efficiently? Moderator: Katie Fehrenbacher (Climate Deals Reporter, Axios) Speakers: Julien Barber (Director - Venture Capital - Emerson Collective), Eric Helfgott (Principal - Lowercarbon Capital), Rajesh Swaminathan (Partner - Khosla Ventures), Matt Trevithick (Co-Founder & Managing Partner - Leitmotif) 10:50 AM - Coffee & Investor Networking 11:10 AM - Building Value on the Path to Commercialisation A panel of senior figures from the world’s leading fusion energy entities and their investors discuss and define the path to commercialisation, and the implications for revaluations, up-rounds and exits. - What is the status of the leading technologies? What challenges remain to achieving private-sector break-even? - How has the financing environment changed in the past 12 months and how can the challenges be navigated, and capital flows sustained? - How important is the monetization of IP, adjacent applications and other pre-generation revenues to maintaining cash and progress? - How does the path, and valuations, evolve as fusion moves from science and tech, to engineering, to construction, to off-takers & commercial risk? Moderator: Jacqueline Kirtley (Assistant Professor, Wharton Business School) Speakers: Michl Binderbauer (CEO - TAE), Philippe Lamotte (CFO - Renaissance Fusion), Warrick Matthews (CEO - Tokamak Energy), Scott Mercer (CEO - Focused Energy), Guinevere Shaw (Managing Director & Partner - Rutherford Energy Ventures L.P.) 12:10 PM - Fusion: Public Sector Support, Strategy & Synergies A panel of senior figures from leading public sector entities, complemented by an investor view, explore the path to commercialisation, the challenges, their support and expectations, and the drivers for the public sector’s growing fusion focus. - How are public sector entities supporting the advance to commercialisation? - How do approaches differ from country-to-country, what are their relative strengths and where are the synergies between them? - How important is access to non-dilutive capital to fusion investors? - How will public sector support evolve as fusion moves from science and engineering, to construction, deployment & commercial risk? Moderator: Alex Borovskis (Co-Founder, Helixos) Speakers: Tim Bestwick (Interim CEO - UKAEA), James Jopling (Head of Sector & Investment, Fusion Energy - Department for Energy Security & Net Zero, UK Government), Anantha Krishnan (Senior Vice President, Energy Group - General Atomics), James McCarrick (Program Director for High Energy Density and Photon Systems, NIF&PS Directorate - Lawrence Livermore National Lab) 1:00 PM - Networking Lunch 2:00 PM - Superconductivity, Magnetic Confinement & Fusion Energy Dr. Melanie Windridge, Co-founder, FusionX Group interviews a leading fusion innovator to explore key questions on the origins and ongoing application of superconductivity in the path to commercially-viable fusion. Speakers: Brandon Sorbom (Co-Founder and Chief Science Officer - Commonwealth Fusion Systems), Melanie Windridge (Co-Founder - FusionX) 2:30 PM - Opportunities in Inertial Confinement - What is the current status of the leading technologies? - What challenges remain to surpass break-even? - What are the drivers of valuation for ICF companies? - How does the laser path to ICF commercialisation compare to the impact approach? Moderator: Heather Jackson (Technology-to-Market Advisor, ARPA-E, U.S. Department of Energy) Speakers: Greg Ainsworth (COO - HB11), Nicolas Burkardt (CFO - Marvel Fusion), Edward Moses (CEO - Longview Fusion Energy Systems), Susana Reyes (VP of Chamber and Plant Design - Xcimer), Mark Thomas (CEO - First Light Fusion) 3:20 PM - Coffee & Investor Networking 3:40 PM - The Fusion Opportunity An exploration of proprietary data, defining the evolution, size, & dynamics of a commercial fusion market for power, industrial heat, and the supply chain. - How big might the global market be, and where will the opportunities lie? - How will cost reductions influence deployment curves? - What does this mean for supply chains supporting fusion plants? Speakers: Stuart Allen (CEO - FusionX), Alex Borovskis (Co-Founder - Helixos) 4:00 PM - Dominion & Commonwealth Fusion Systems A conversation between senior executives from Commonwealth Fusion Systems and Dominion Energy explores their plans, intentions and expectations for the world's first commercial fusion power plant. - What brought Dominion to fusion and CFS to Dominion? - What are the milestones for SPARC & the commencement of ARC? - How does Dominion envision the long-term future for fusion for the grid? - How do CFS and Dominion see fusion companies and utilities most effectively working together? Speakers: Emil Avram (Vice President, Business Development - Dominion Energy), Rick Needham (Chief Commercial Officer - Commonwealth Fusion Systems) 4:40 PM - Opportunities in Alternative Approaches Five short presentations by companies pursuing power and/or other applications and looking for seed or Series A funding followed by an interactive Q&A. - Why is it important to investigate less-mature approaches when other, established approaches are moving ahead at pace? - How do their risk profiles compare between capex-intensive approaches well-researched in public labs & simpler concepts pursued by others? - What criteria do investors apply when researching and funding novel, early-stage fusion approaches? Or opportunities in the supply-chain? - How can investments in alternative fusion approaches enhance a portfolio? Moderator: Malcolm Handley (Partner & Founder, Strong Atomics) Speakers: Dr. Oliver Barham (Co-Founder | COO - Terra Fusion Energy Corporation), Oded Gour-Lavie (CEO - NT-Tao Compact Fusion Power), Douglas Witherspoon (Founder and Chief Scientist - NearStar Fusion Inc.), Peter Roos (CEO - Novatron Fusion) 5:30 PM - Iterative Advancement & Constant Commercialisation An interactive conversation exploring the synergies between the pursuit of commercially viable fusion energy and non-power applications. Speakers: Valerie Jamieson (Development Manager - The Fusion Cluster), Robin Langtry (Co-Founder & CEO - Avalanche) 6:00 PM - Networking Drinks Reception 7:45 AM - Registration, Coffee & Networking 8:00 AM - Breakfast Briefing Sessions: Milestones & Advancements A series of four short presentations, followed by an interactive Q&A session, exploring stand-out developments in fusion technologies and approaches. Speakers: Dr. DooWhan Choi (CEO - EnableFusion Inc.), Kazuki Matsuo (Founder & CEO - EX-Fusion), Dr. Hafiz Rahman (President and Director - Magneto-Inertial Fusion Technologies, Inc. / MIFTI), Chris Salvino (CEO & Chief Engineer - Lunar Helium-3 Mining) 9:00 AM - Welcoming Remarks 9:10 AM - Keynote Interview A discussion with a co-founder of one of the world’s best-capitalized fusion companies exploring their approach to fusion, path to commercialisation, and capital-raising process. Speakers: Stuart Allen (CEO - FusionX), Will Regan (President & Co-Founder - Pacific Fusion) 9:40 AM - Fusion in Non-Power Applications Investing in companies that seek to resolve the engineering or construction challenges of fusion companies, or use industrialized fusion tech for non-power applications can both give diverse exposure in fusion-related markets and a quicker path to profitability. - How do companies using industrialized fusion tech for non-power applications compare to those solely focused on energy? - What are the most attractive spin-offs – medical isotopes, HTS magnets, materials, propulsion? - How can collateral cash-flows best enhance fusion investments? Moderator: Arianna Gleason (Senior Scientist, SLAC / Stanford University) Speakers: JC Btaiche (CEO & Founder - FUSE), Allan Chen (VP of Engineering - Alpha Ring International), Andras Forgacs (Managing Partner - Inceptional Partners), Rob Hill (CEO - TAE Life Sciences), Greg Piefer (Founder & CEO - SHINE) 10:40 AM - Coffee & Investor Networking 11:00 AM - Inside the Funding Round A moderated discussion with a senior executive from one of the world’s leading fusion companies & their investors, exploring their capital-raising process and experience from start-up to major to commercialisation. Moderator: Melanie Windridge (Co-Founder - FusionXInvest) Speakers: Zoltan Tompa (Partner & Team Lead - BDC Capital), Megan Wilson (Chief Strategy Officer - General Fusion) 11:30 AM - Fusion’s New Partners: Utilities A deep dive into partnerships with utilities, discussing fusion’s role in powering future demand & how that underpins the investment case for fusion. - How can partnerships with utilities mitigate the challenges of financing long-term, capital-intensive projects such as fusion? - How are partnerships most effectively structured? - What are the key elements of a successful partnership? Speakers: Andrew Campbell (Senior Manager, Transformative Innovation Initiatives - Tennessee Valley Authority), Christofer Mowry (CEO - Type One Energy) 12:00 PM - Opportunities in Magnetic Confinement A panel of fusion innovators explore the path to commercialisation, the challenges, and their expectations, across a range of MCF approaches. - What is the current status of the leading technologies? - What challenges remain to surpass break-even and to commercialisation? - How can the challenges be navigated and cash/capital flows sustained? - What supports revaluation along the path to commercialisation? Moderator: Matthew Munderville (Program Director, MIT PSFC) Speakers: Brian Berzin (CEO - Thea Energy), Kieran Furlong (CEO & Co-Founder - Realta Fusion), Yosuke Kubo (COO, Business Development - Helical Fusion), Ratu Mataira (Founder & CEO - OpenStar Technologies), Francesco Sciortino (Co-Founder & CEO - Proxima Fusion) 1:00 PM - Networking Lunch 2:00 PM - Announcements & Updates 2:10 PM - Integrated Cost Model for Fusion An overview of the cost modeling work being done to support economic analysis across a spectrum of fusion technologies. Speaker: Jay Brister (Consultant - Clean Air Task Force) 2:30 PM - Supply-Chain: Mitigating Risk & Creating Opportunity Investing in companies that seek to resolve the challenges of fusion companies can give diverse exposure to fusion & related markets & a quicker path to revenues. Three presentations followed by an interactive discussion exploring how innovation, engineering & reliable supply-chains de-risk fusion. - What challenges are opportunities to mitigate risk or enhance investability? - How can you protect and leverage your intellectual property? - What are the opportunities in superconductivity, materials, engineering etc? - How can AI and supercomputing speed development & de-risk fusion? - What makes a long-term, robust and risk-free supply-chain in fusion? - Does investment in ‘picks & shovels’ diversify fusion investment risk? Moderator: Sam Wurzel (Founder, Fusion Energy Base) Speakers: Mike Attisha (Of Counsel - Greenberg Traurig), Cyd Cowley (Fusion Principal - digiLab), Chris Good (Managing Partner - Pine Island), Sergey Samoilenkov (CEO - Faraday 1867 Holdings LLC), Wolfgang Walter (Technical Support Manager - Bilfinger) 3:30 PM - Fuel Cycle: Mitigating Risk & Creating Opportunity Investing in companies that seek to resolve fusion companies’ challenges with heating, fueling, exhaust, tritium recovery & breeding can give diversified exposure to fusion and a shorter path to revenues. Three short presentations followed by an interactive discussion exploring: - What technical fuel-cycle challenges are opportunities for specialist providers? - How do these mitigate risk or enhance investability by e.g. facilitating efficient operation, minimizing maintenance, ensuring fuel? - Does investment in ‘picks & shovels’ diversify fusion investment risk? Moderator: John Myer (Senior Counsel, Husch Blackwell) Speakers: Ian Castillo (Co-CEO - FFC Inc. & Canadian Nuclear Labs / CNL), John Elling (CEO & Co-Founder - Molten Salt Solutions, Inc.), Yuhei Nozoe (Co-CEO - Fusion Fuel Cycles Inc), Romi Mahajan (CEO - Exofusion), Kyle Schiller (CEO - Marathon Fusion) 4:30 PM - CVCs & Private Sector Partners Fusion benefits from a broad range of partnership with other private sector entities – CVC, tech companies, EPC contractors. - Why do non-fusion entities partner with fusion & what are their longer-term expectations and intentions? - What can such partnerships deliver to fusion beyond capital and customer? - What value can EPCs bring early and how could long term partnerships be structured? Moderator: Dr. Richard Pearson (Co-Founder & Chief Innovator, Kyoto Fusioneering UK; Editor - Journal of Fusion Energy) Speakers: Fred Beranek (Senior Consultant - Fluor), Anku Madan (Principal - Obvious Ventures), Tina Tosukhowong (Investment Director - TDK Ventures) 5:20 PM - Closing Remarks Speaker: Edward Moses (CEO - Longview Fusion Energy Systems) 7:30 AM - Networking Day - At Capacity 8:00 AM - Pre-Registered Attendees - Check In and Coffee at the Computer History Museum 8:30 AM - Depart Computer History Museum 9:30 AM - Arrive at LLNL for Security Check-In 10:45 AM - Lawrence Livermore National Laboratory Tour: A private tour of LLNL’s National Ignition Facility (NIF) followed by a Q&A with senior staff. NIF is home to the world’s largest and highest-energy laser system. It advanced the path to the commercialisation of fusion energy by achieving fusion ignition on December 5th, 2022. NIF spearheads inertial confinement fusion and high energy density science; develops advanced laser, optical, target and diagnostic systems, and explores other challenges to the commercialisation of fusion energy including the development of new alloys for first wall fusion reactors. 1:30 PM - Networking Lunch: Garré Vineyard & Winery: A networking lunch with a select group of fusion innovators, investors and thought-leaders in Livermore Wine Country 2:45 PM - Wine Tasting: Optional wine-tasting of estate wines, or coffee and tea. 3:45 PM - Depart Garré Vineyard & Winery 5:00 PM - Return to Computer History Museum