Climate crisis: the new US race for nuclear energy The world is experiencing a race for technological leadership in nuclear fusion, defended by some as a potential source of massive energy free of greenhouse gases. Although the economic viability of a possible plant is uncertain, more and more billions of dollars are being invested by governments, companies and private investors. In the second half of 2025, private investments in the sector grew at an unprecedented pace, with 85% of financing concentrated in China and the United States. The global increase was 30%, reaching US$13 billion (R$67 billion), according to a report by the European Union (EU) organization Fusion for Energy (F4E). Nuclear energy GloboNews By 2050, the fusion energy sector could reach a volume of more than US$350 billion, estimates the International Energy Agency (IEA). The demand for energy is continually growing — driven, among other factors, by the electrification of the economy. And the data centers needed for artificial intelligence (AI) have significantly increased that appetite. The principle behind the technology is: light atomic nuclei fuse, forming new elements and releasing energy in the form of heat. This heat can be used to generate electricity, independently of the climate, with security of supply, without fossil fuels and without emission of greenhouse gases. Unlike conventional nuclear energy, in which energy is obtained by the fission of atomic nuclei, the risk of accidents in fusion is lower. Radioactive waste poses a lower risk to human health and the environment. Some experts argue that even successful technological development would not be fast enough for Europe to achieve its goals to protect the climate. USA announces advances in the production of clean energy based on nuclear fusion Reproduction/ Lawrence Livermore National Laboratory Startups bet on fusion For decades, the focus on the topic of nuclear fusion was mainly on large projects financed by the State, such as ITER (International Thermonuclear Experimental Reactor). In this project, 35 countries are participating in the construction of an experimental reactor in southern France, including EU countries, the United States, Russia and China. Since work began in 2007, costs have increased enormously, while completion has been repeatedly delayed. Currently, entry into operation is scheduled for the period between 2034 and 2036. Many companies have also been founded around the world seeking to advance the construction of nuclear fusion reactors. Currently, 77 companies are working to bring nuclear fusion to market maturity, according to F4E. The majority (42) are in the United States, compared to 8 in China and 6 in the United Kingdom. Also in Germany, 4 startups are positioning themselves in the market. Investments concentrated in the USA and China Nuclear fusion not only requires a lot of research, but also the injection of resources. Excluding public funds, around €13 billion has been invested by the end of 2025 in private fusion research. The majority (53%) goes to US companies and about a third to Chinese companies. "In fact, in these two markets there are already some 'unicorns' with valuations exceeding one billion dollars," says F4E. The remainder, just over €700 million, will go to eight European companies. While in China the State invests heavily in nuclear fusion, in the United States the sector is driven mainly by private investors, including large technology companies. For example, Google has supported the American company TAE Technologies for more than ten years, not only with hundreds of millions of dollars, but also with engineers from the company itself working directly on technological development. Additionally, Google invested in the largest US fusion company, Commonwealth Fusion Systems (CFS), and signed an electricity purchase agreement. The American company Helion Energy is supported by Sam Altman, CEO of OpenAI. Microsoft also entered into an electricity purchase agreement with Helion Energy. Germany aims for the same goal For Markus Roth, professor at TU Darmstadt who founded the startup Focused Energy in 2021, Germany has a competitive ecosystem for the development of nuclear fusion, due to the wide presence of research institutions, startups and industrial companies. Unlike most competitors, your startup is committed to laser technology. The viability of the method was demonstrated in 2022, when researchers in the United States managed, for the first time, to obtain more energy from a laboratory-scale fusion reaction than was needed to start it. But one of the big obstacles on the path to a fusion reactor is the rapid development of supply chains, he points out. "We need to learn, in Germany, how to build laser systems like we build cars — on a production line, but with high precision." The German government also sees great potential in nuclear fusion and defines it as one of six key technologies for Germany's future. More than two billion euros in public investments have been pledged for nuclear fusion in this legislature. However, it will still take time to effectively generate electricity, and startups say they are far from having the necessary resources for the long term.