Baroness Gustafsson, Minister for Investment - Department for Business and Trade, & HM Treasury
The value, market potential and investment opportunities in fusion innovations and spin-outs.

An exploration of existing fusion spin-outs and fusion-adjacent paths to commercialisation of non-power applications for fusion tech, and the underlying investment thesis.

• What are the business models, expectations, size of markets and likely growth?
• How, where and when do they present actionable, scalable investment opportunities?
• What advantages do fusion-derived approaches have over existing solutions in each market?
• Do early commercial successes de-risk the path to fusion energy?

A panel of leading international investors explore the investment thesis for fusion spin-outs and fusion-adjacent innovations.

• What makes things fusion-related attractive relative to other deep-tech opportunities?
• Can the near-term markets support venture-scale returns?
• How do development costs align with revenue potential in different applications?
• Can commercial success attract strategic investment from industry incumbents?
• The main event or a mitigation/enhancement for fusion energy investment?

An interactive discussion with a global leader of technology led companies – ARM, Rolls-Royce, Tokamak Energy – exploring the key questions on organising, scaling and managing innovative tech and engineering businesses.

An interactive discussion between a fusion innovator and a long-term growth investor exploring the key questions on fusion-derived investment.

• How are longer-term, novel, tech-led investments – including  fusion-derived opportunities – best evaluated? 
• Does the long-term objective of fusion energy enhance, reduce risk, or bring diversification to a portfolio? 
   

A short presentation followed by an interactive discussion exploring the opportunity in fusion-derived isotopes for diagnostics and therapeutics.

• How big are medical isotope markets and how entrenched are the incumbents?
• Can fusion-derived beat traditional products on reliability, purity, and cost?
• What's the capital pathway from proof of concept through full commercial scale, and from diagnostic isotopes into therapeutics?
• How valuable is dual capability in diagnostic and therapeutic isotopes?
• What attracts healthcare and pharma companies to new isotope producers?

A short presentation followed by a panel discussion of the existing and potential opportunities leveraging fusion systems and innovations in space and defence.

• How valuable is fusion-derived propulsion technology to emerging space logistics markets?
• How can defense applications provide early revenue while developing broader capabilities?
• How do government relationships and contracts accelerate commercial development/fund development of commercial applications?
• What unique capabilities emerge from combining fusion expertise with space operations?

A short presentation followed by an exploration of advanced imaging systems – leveraging neutrons, muons and other particles – and their multi-sectoral applications in segments such as non-destructive testing of materials and components, security and safety screening, and medical imaging.

• Which are the most promising applications for fusion-based imaging?
• Can fusion-derived particle sources beat current imaging technologies on performance and cost?
• What development or commercial milestones are key to investors?
• How do site-deployed imaging systems compare to centralized isotope production facilities? Does recurring service revenue create better economics than pure equipment sales?

A short presentation followed by an interactive discussion exploring the market size and structure and the investment opportunity for superconductivity – HTS tape and wires, and HTS magnets.

• What immediate markets exist for high-temperature superconducting systems in power infrastructure, quantum computing, imaging and diagnostics, propulsion…?
• What are the dynamics of these markets and how entrenched are the incumbents?
• Is HTS role as a replacement or complement to LTS? Does it win existing markets or create new ones?
• What additional market opportunities are presented by related cryogenic systems?

A short presentation followed by an interactive discussion exploring the opportunities and overall investment thesis from leveraging AI for predictive analytics, system optimization, and R&D in segments such as materials, pharma, and energy.

• How does fusion-specific modeling expertise transfer to other high-value simulation markets?
• Which industries beyond fusion need extreme-condition modeling solutions and what are the dynamics of those markets?
• Could advanced modeling capabilities create recurring revenue from multiple industries?
• Can specialized tools evolve into broader commercial software platforms?

A short presentation followed by an interactive discussion on opportunities in the application of robotics in challenging or remote environments.

• Which industries beyond fusion need high-reliability robotic solutions?
• How valuable is extreme-environment robotics to other industries?
• How do advances in remote handling transfer to broader automation markets?
• Can early specialized systems evolve into broader commercial platforms?

A champagne networking reception on the IET Terrace overlooking Savoy Place and the River Thames.