Fusion startups' fundraising haul of $1.6 billion in the last 12 months lifted the overall buoyant mood at The Economist’s Fusion Fest in London.
Cracks are emerging, however, as founders and investors push toward a common goal until the money starts to roll in and that shared vision begins to diverge. Going public was at the top of everyone's minds, with TAE Technologies and General Fusion announcing plans to merge with publicly traded companies. Both stand to receive hundreds of millions of dollars to keep their R&D efforts alive, and investors finally see an opportunity to cash out.
Not everyone is in agreement, though. Most of those I spoke to were worried these companies are going public far too early and that they haven't achieved key milestones that many view as vital in judging the progress of a fusion company. A recap: TAE announced its merger with Trump Media & Technology Group in December. Though the deal isn’t yet completed, the fusion side of the business has already received $200 million of a potential $300 million in cash from the deal, giving it some runway to continue planning its power plant.
Cracks are emerging, however, as founders and investors push toward a common goal until the money starts to roll in and that shared vision begins to diverge. Going public was at the top of everyone's minds, with TAE Technologies and General Fusion announcing plans to merge with publicly traded companies. Both stand to receive hundreds of millions of dollars to keep their R&D efforts alive, and investors finally see an opportunity to cash out.
Not everyone is in agreement, though. Most of those I spoke to were worried these companies are going public far too early and that they haven't achieved key milestones that many view as vital in judging the progress of a fusion company. A recap: TAE announced its merger with Trump Media & Technology Group in December. Though the deal isn’t yet completed, the fusion side of the business has already received $200 million of a potential $300 million in cash from the deal, giving it some runway to continue planning its power plant.