Collect your badge and network with fellow participants over coffee

Hosted by:

Day Two welcoming remarks delivered by Stephen Wukitch of MIT

Fusion technology provider Type One Energy is partnering with one of the largest public utilities in America (TVA) and a global engineering firm (AECOM) to commercialize fusion energy. Project Infinity is on track to put fusion electrons on the grid in East Tennessee by 2034.

• How did early collaboration with TVA shape site decisions, grid integration requirements, and regulatory sequencing?
• How· How does Type One’s OEM role enable clearer interfacing with partners for delivery, operations, and compliance?
• How has AECOM’s role as EPC integrator helped translate fusion concepts into buildable, licensable infrastructure?
• To what degree does this approach reduce execution risk, improve schedule confidence, and support repeatable deployment?
• How does this delivery model change impact investment profile?

Moderated by: Phil Larochelle,  Partner, Breakthrough Energy Ventures

Participants include:

Building on the world’s first fusion ignition at LLNL – a milestone that definitively proved the science of fusion energy Inertia seek to turn a historic scientific achievement into a commercial energy system.

• How Inertia’s commercialization strategy differs from others
• Technical and operational milestones on the path to a FOAK fusion system
• What are the capital requirements for Inertia’s approach and how are investors responding?

An interactive interview with: 

A candid fireside chat with Marathon Fusion.

Informal networking with existing & potential partners. 

SHINE has established one of the most commercially credible pathways in the fusion sector by building revenue-driving businesses around fusion-driven neutron production, isotope manufacturing, and waste recycling. 

• How is SHINE’s staged model reshaping expectations for valuation, commercialization timelines, and investor confidence?
• Does SHINE’s staged commercialization model translate into a differentiated and compelling investment proposition? How do investors compare SHINE’s risk profile and valuation against traditional fusion companies?
• What are the key milestones - and how well is SHINE tracking toward them?

A candid, fireside chat with:

Volumetric neutron sources offer a near-term pathway to revenue and advance fusion development; by enabling materials testing, tritium breeding validation, and component qualification, they can remove key bottlenecks ahead of full reactor deployment.

• VNS technology offers fusion investors a near-term revenue opportunity while de-risking downstream reactor development.
• What revenue streams do VNS systems generate today - isotope production, materials testing contracts, industrial applications?
• How can volumetric neutron sources break bottleneck and accelerate fusion commercialization and by enabling materials testing, tritium breeding validation, and component qualification before full-scale reactors are built?
• What's the investment case for VNS versus waiting for full fusion power plants?

Moderated by: Nick Davies, COO, FusionX

Participants include:

As fusion moves from scientific validation toward commercial delivery, attention is shifting to the engineering and design foundations of deployable power plants. This session explores how developers can progress from first plasma to repeatable, nth-of-a-kind systems, with a focus on scalability, standardisation, and buildability.

• What design principles separate a fusion plant that can be replicated from one that cannot?
• How should developers navigate the trade-offs between technical performance and constructability?
• What engineering milestones need to be locked in before commercial deployment becomes credible?

An interactive discussion with: 
 

 An informal networking lunch connecting participants & panelists. 

 Sponsored by:

Compact fusion systems for defense, space, and extreme-environment testing offer a credible route to early revenue and operational validation. For companies navigating the gap between milestone achievement and scalable capital formation, non-grid deployments are not a detour from the power plant path, but a financing and de-risking strategy.

• How can physics milestones be translated into near-term contracted revenue with defence and aerospace customers?
• Which proof points, technical, operational, and commercial, are required to unlock the next tranche of capital and trigger first procurement contracts?
• How should early non-grid deployments be sequenced to generate revenue and data without constraining the route to grid-scale power?
• What role do defence agencies and space customers play as first-of-a-kind counterparties, and how does this reshape risk allocation?
• How can companies align early deployments with the differing time horizons and return expectations of venture, strategic, and later-stage investors?

Participants include:

Fuel-cycle technologies offer a pathway to earlier revenue and diversified exposure within fusion but their viability is tightly linked to upstream constraints such as lithium refinement. A panel explores how specialist providers solve these bottlenecks and build scalable, investable businesses.

• What fuel-cycle challenges - across tritium breeding, extraction, and handling - create opportunities for specialist providers?
• How do constraints in lithium supply, enrichment, and refinement shape the scalability and economics of tritium breeding systems?
• What milestones are being achieved toward viable tritium breeding and recovery and what scale of market opportunity do they unlock?
• How are academic and industrial collaborations accelerating solutions to fuel-cycle bottlenecks and translating them into commercial pathways?

Participants include:

    Informal networking with existing & potential partners. 

A candid, structural look at the challenges facing large-scale scientific projects, drawing on first-hand insights from ITER. This session examines the root causes of ITER’s delays and cost overruns, focusing on supply-chain complexity, procurement strategy, and programme management

• Why major infrastructure and science projects so often fail to deliver on time and within budget, and the lessons for emerging fusion companies.
• A case study of the EU’s €7bn supply-chain involvement: how fragmented contracts, integration challenges, and procurement choices contributed to delays.
• How fundamental project-management practices (“the elementary stuff” - FOAK basics, coordination, interfaces) were where issues emerged.
• What the private-sector fusion can learn from ITER’s experience to avoid encountering the same structural and operational challenges.

An interactive presentation with:

Fusion’s path to commercialization will be determined not just by capital availability, but by how public infrastructure, private investment, and philanthropic funding are coordinated. Early deployment will likely depend on structured PPPS to bridge the gap between demos and investable projects.

• What PPP models can support pilot plants and FOAK deployments?
• How can national labs and shared infrastructure accelerate progress without duplicating cost or constraining private execution?
• How should risk and capital be sequenced across public, private, and philanthropic funding?
• Where can philanthropic capital most effectively absorb early technical risk and unlock follow-on investment?
• What coordination gaps remain between labs, universities, government, and industry - and how can they be resolved?
• How can US programs better integrate international partners to accelerate deployment?

Moderated by: Lenka Kollar, Co-founder, Helixos

Participants include:

Live audience polling on the critical priorities for fusion commercialization. Results displayed in real time with expert panel reaction, translating two days of discussion into actionable takeaways.
Ecosystem sentiment on:

• Which components of a fusion pilot plant are most vulnerable to supply chain disruptions?
• Where are the opportunities for American companies to own pieces of the fusion supply chain?
• What technical milestones, if achieved, would draw significantly more private capital into fusion?
• Are there remaining technical hurdles that, if unsolved, would render fusion energy not commercially viable? 
• From the current position, who is most likely to achieve commercially viable fusion first: China or the United States?
   

Hosted by: Caleb Barnes, Associate Director for Fusion, Special Competitive Studies Project

Participants include:

Assemble, register and network. 

MIT Plasma Science and Fusion Center’s fusion facilities. 
Visitors will tour the former control room of Alcator C-Mod, now repurposed as the home to HTS magnet test facilities, as well as the West Cell, where PSFC built its first full-scale high-temperature superconducting magnet – the TFMC pancake coil – which demonstrated that superconducting technology can withstand extremely high magnetic fields.  

Visitors will also learn about collaborations with Commonwealth Fusion Systems advancing the next generation of fusion energy, and see the space where the Schmidt Laboratory for Materials in Nuclear Technologies (LMNT) cyclotron facility is being installed for materials radiation testing that supports SPARC and ARC fusion development.

Networking Lunch
A long, informal networking lunch connecting participants & panelists

Commonwealth Fusion Systems’s Devens Campus
Visitors will tour the magnet factory manufacturing and testing facility, as well as the SPARC hall, where the partially assembled SPARC machine is open for close inspection. 

The visit will provide a direct view of high-temperature superconducting magnet manufacturing and system installation, ongoing tokamak assembly, and the engineering underpinning first-of-a-kind fusion deployment. Guided by CFS technical experts, participants will gain insight into manufacturing, integration, and testing processes, followed by a Q&A with senior staff.
 

• Participant check-in and welcome pack distribution
• Coffee service and informal networking
   

• Course overview and learning objectives
• Introduction to facilitators and faculty
• Overview of the global fusion funding landscape
   

Basics of Fusion Energy, Science, & Key Terminology
Understand the physics of fusion

• Distinguish fusion from fission and other energy sources
• Master essential fusion terminology and concepts
• Understand the main approaches: MCF & ICF

Key Topics:

• Fusion physics: D-T reactions, plasma confinement, triple-product
• Energy yield calculations and power generation potential
• Comparison with renewable energy sources and nuclear fission
• Advantages: fuel density, safety, waste, fuel supply/costs etc
• Magnetic confinement & inertial confinement fusion
   

Approaches, Fuels, Timelines

• Understand fuels, fuel-cycle economics
• Assess technical risks and development timelines
• Compare technology approaches for investment potential

Commercial Timelines:

• Technology readiness levels across different approaches
• Demonstration plant & commercial deployment projections
• Key technical milestones from now to demo to deployment
   

Faculty & industry experts available for informal Q&A

Fusion Valuation Nuances & Methodologies
Identify appropriate valuation methods for fusion investments
Understand unique risk factors and discount rate considerations
Benchmark valuations against comparable technologies

Valuation Challenges:

• Long development timelines and capital intensity
• Technology and regulatory risks
• Limited comparable transactions

Valuation Methodologies:

• Real options valuation for early-stage technologies
• Risk-adjusted net present value calculations
• Comparable company analysis: renewable energy, nuclear, SMRs
   

Understanding the Arc of Value & Risk
Understand risk and value on the path to commercialization  
Evaluate variations among approaches

Risks & Retirement:

• Key technical milestones from now through demo to deployment
• What are the risks and what retires them

Milestones & Revaluation Events:

• Demo → FOAK → NOAK,  integration, LCOE & financing
• Exits

Portfolio Construction:

• Diversify exposure across application verticals and development stages
• Size positions to milestone achievement and risk retirement
   

Investment Across the Value Chain
Identify investable opportunities beyond reactor developers
Understand supply chain bottlenecks and scaling challenges

Core Challenges & Solutions:

• Superconducting magnets: high-temperature superconductors
• Plasma-facing materials: tungsten, beryllium, advanced composites
• Fuel cycles: tritium breeding & handling
• Maintenance: remote handling and robotics

Market Sizing:

• Total addressable market projections, opportunities and risks 
• Competitive landscape, market concentration & bottlenecks
   

Evolving Regulation & Remaining Risks
Understand the current state of regulation and direction of change
Identify points of risk and their mitigation

Current:

• Regulated separately from fission in key jurisdictions 
• Licensing precedents (ITER, national labs) & baseline safety cases.

Evolution & Risk:

• Harmonized, risk-proportionate fusion frameworks
• Rules on tritium handling, industrial hazards, activated waste 
   

What Investors Need
Understand core investor concerns and drivers of conviction 
Compare investment theses

• Teams & partnerships
• Technology & milestones & capital intensity
• Scalability & integration
• Exits
• Communication with LPs
   

Open discussion between delegates & a panel of fusion innovators & investors. 

All participants are invited to network with the fusion ecosystem, over drinks & food, at the FusionX:Americas ice-breaker reception.