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US Needs Fusion Energy 'Manhattan Project'

Financial Times Companies •
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Fusion energy, promising a clean, abundant, and geopolitically stable power source, is closer than ever to realization. Scientists understand the fundamental science, but significant engineering hurdles remain. The author argues the US government must now match private sector investment with substantial funding, akin to a new "Manhattan Project," to accelerate commercialization.

Past US fusion funding has been inconsistent, surging during energy crises but dwindling afterward. Currently, the US allocates only $800mn annually to fusion research, a fraction of NASA's budget. Meanwhile, China has mobilized at least $6.5bn for fusion projects since 2023, potentially outpacing the US and mirroring its dominance in solar power, which originated in the US. China also leads in training fusion PhD students by a factor of 10.

History, from the Manhattan Project to nuclear power's origins at Columbia University, shows how ambitious federal funding can drive critical scientific and technological breakthroughs. The US must act decisively now, before the urgency fades, to secure a leading role in fusion energy.