While eating lunch at a recent energy conference with the usual random selection of delegates and speakers, I asked the co-founder of a leading energy venture capital firm what technology he finds most exciting right now. Without hesitation, he began telling me about his company’s ambitious, longer-term bet on a small nuclear fusion company. He then put me in contact with his partner and co-founder, who helped fill in the details for this story.
In the race among world governments and wealthy companies to create and commercialize a nuclear fusion reactor, a small Canadian firm backed by innovative ideas and a little venture capital may just have a shot. A report from Agence France-Presse.
Michel Laberge quit his job to invent a "glorified jackhammer" that he hoped would save the planet. That was 10 years ago.
Now, investors are betting more than $30 million on that jackhammer idea, which may yield a holy grail of energy -- a safe, clean and unlimited power source called hot fusion.
One of Canada's leading purveyors of fossil fuels, oil sands company Cenovus Energy Inc. , is placing a bet on a sci-fi energy source in hopes that nuclear fusion can one day help squeeze bitumen out of Fort McMurray.
The company is making a $4-million investment in General Fusion, a Burnaby, B.C.-based startup that on Thursday announced $19.5-million in new development capital, including some from Bezos Expeditions, the personal investment company of Amazon.com founder Jeff Bezos.