Hatch Ltd. issued the following announcement on Jan. 9.
General Fusion announced today that it has entered into an industrial partnership with Hatch Ltd. (Hatch) to bring power plant engineering and other expertise to its Fusion Demonstration Plant project. This partnership includes an investment by Hatch into the recently announced General Fusion USD $65 million Series E financing round.
Hatch is a leading global engineering and construction firm with a strong record of success with both demonstration and commercial programs. It brings recognized power plant design, siting, licensing, and other specialized capabilities to General Fusion in support of the development and deployment of its Fusion Demonstration Plant. This prototype, which is planned to be completed and tested over the next five years, will demonstrate the company’s Magnetized Target Fusion (MTF) technology at power plant-relevant scale.
“Success in commercializing fusion technology depends on strong engagement by stakeholders in the global energy industry,” said CEO Christofer Mowry. “Hatch is highly respected and capable. They understand the realities of power plant engineering and will help ensure we develop a practical and on-demand cleantech that finally enables the energy transition we are all talking about.”
Fusion energy is expected to provide a new source of socially acceptable and economically competitive carbon-free electricity for the world. Commercially viable fusion power plant technology will complement renewable energy sources and storage solutions to provide a practical transition to our zero-carbon energy future. Ongoing advances in fusion science and enabling technologies are accelerating the global pivot from fusion research to commercialization.
“Hatch sees General Fusion and its technology as a potential game changer for the production of sustainable, carbon-free energy,” said Hatch’s global managing director, Energy, Robert Francki. “We are proud to be an integral part of this important step in General Fusion’s path to commercialization.”
Original source: https://www.hatch.com/en/About-Us/News-And-Media/2020/01/Hatch-enters-strategic-partnership-with-General-Fusion