Big Oil Is Betting Billions On Nuclear Fusion
After decades confined largely to laboratories, nuclear fusion is beginning to attract the kind of money and industrial planning normally reserved for technologies expected to make it onto the grid. Global private investment in fusion hit a record $4.48 billion in 2025, up 69% from a year earlier, while some of the world’s largest energy companies are moving beyond simply backing fusion startups.…
For years, nuclear fusion remained confined to laboratories, but now it is attracting significant investment and industrial planning akin to other major energy technologies. Global private investment in fusion soared to a record $4.48 billion in 2025, up 69% from the previous year. Major energy companies are no longer just backing fusion startups but are actively planning to deploy commercial fusion power plants.
Italian energy giant Eni S.p.A. has committed to building a commercial fusion plant in Europe by the early 2040s, leveraging its $1 billion investment in Commonwealth Fusion Systems (CFS) and a power purchase agreement for the startup's first U.S. commercial plant. Eni also plans to develop fuel systems for future fusion plants, drawing on its experience processing hydrocarbons and hydrogen.
Other oil giants, including Equinor, Chevron, Shell, and Cenovus, have been heavily involved in the fusion industry, investing across various reactor technologies and supporting multiple startups. While fusion was once considered pure research, industry experts now view it as an emerging industry with commercial potential.
Written by urgent.news from OilPrice's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
