Collect your badge and network with fellow participants over coffee

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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:

Fusion commercialization will depend not just on capital availability, but on how governments, public funds, strategic investors, and private industry coordinate infrastructure, risk, and deployment...

• What PPP models can best support pilot plants and FOAK deployments?
• How can national labs and shared infrastructure accelerate progress?
• How can sovereign/strategic funds — including defence and innovation-focused capital – most effectively participate in fusion?
• How should risk and capital be sequenced across public, private, and strategic funding sources?
• What coordination gaps remain between labs, universities, government, and industry and how can they be resolved?

Moderated by: Lenka Kollar, Co-Founder - Helixos

Participants include:

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?

Stuart Allen, CEO, FusionX in 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: Jacqueline Kirtley, Assistant Professor of Entrepreneurship - The Wharton School at University of Pennsylvania

Participants include:

A candid fireside chat with Marathon Fusion exploring fusion-enabled transmutation and fuel-cycle technologies that aim to turn fusion neutron flux into commercially valuable products beyond power generation and which of these applications may reach commercial scale first.

Helion’s Polaris is designed to demonstrate electricity production from fusion and support delivery by 2028 on a power purchase agreement with Microsoft, one of the most ambitious timelines in the sector. This conversation explores the science and what it will take to scale a domestic fusion supply chain and deliver a deployable commercial system.

A candid discussion with:

 An informal networking lunch connecting participants & panelists. 

 Sponsored by:

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?

Moderated by: Guinevere Shaw, Senior Technical Analyst - Rutherford Energy Ventures

Participants include:

Fusion systems for defense, space, and extreme-environment testing offer a route from lab breakthrough to first revenue. For companies bridging the gap between milestones and scalable capital, these prove execution, build credibility, and de-risk the path to commercialization.

• Which proof points – technical, operational, and commercial – are needed to unlock capital and first procurement contracts?
• What does it mean to take on defense and space customers as first counterparties, and how does it impact risk, governance? 
• How can such deployments be structured to satisfy venture, strategic, and later-stage investors while keeping a clear path to grid-scale power?

An interactive discussion moderated by: Nicholas Davies, COO - FusionX​​​​​​

Participants include:

Informal networking with existing & potential partners. 

Sponsored by:

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?
• How have investors responded to the Inertia thesis?

An interactive interview hosted by: Tim De Chant, Senior Climate Reporter - TechCrunch

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 can US companies 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:

• Koki Yakushiji, Policy Advisor for Fusion Energy - Cabinet Office, Government of Japan & Manager - Mitsui & Co

Informal networking and reflection, drinks and food at ‘Sonia’

Hosted by:

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 and the enabling technologies

Understand the main approaches: MCF & ICF

Master essential fusion terminology and concepts

Distinguish fusion from fission and other energy sources
Key Topics:

• Fusion physics: D-T reactions, Q and the Lawson parameter
• Plasma confinement approaches (magnetic confinement & inertial confinement)
• The technologies of fusion (breeding blankets, fuel cycles, materials, etc.)
• Comparisons with other energy sources and advantages of fusion

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
   

Enjoy coffee and connect with fellow attendees

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
   

Understand what it takes to move from demonstration to initial commercial deployment (FOAK)

Explore the process of risk retirement and commercial validation

Evaluate key milestones, revaluation events, and commercialization pathways through real-world case studies

Risks & Retirement:

• Key technical and engineering milestones from demonstration through FOAK deployment
• What are the principal risks and what retires them
• Plasma performance, systems integration, manufacturability, and operational reliability

Milestones & Revaluation Events:

• Scientific proof points, pilot systems, FOAK deployment, and commercial readiness
• Demo → FOAK → NOAK progression and valuation inflection points
• Capital transitions, strategic partnerships, customer validation/offtake

Commercialisation Playbooks:

• Lessons from real-world fusion and adjacent-sector case studies
• Different commercialization pathways across fusion approaches and business models
• Transitions from R&D  to commercial enterprise

Faculty & industry experts available for informal Q&A

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

Enjoy coffee and connect with fellow attendees

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 

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

Moderated by: Maria Hancock, Chief Operating Officer - Rutherford Energy Ventures L.P.

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