聚变新能：聚变能源转化的“探路者”

Core Viewpoint - The establishment of Fusion New Energy aims to commercialize fusion energy in China, leveraging its abundant raw materials, high energy density, and pollution-free characteristics as a future clean energy source [1] Group 1: Financing and Capital Structure - Fusion New Energy was founded in Hefei in May 2023 with a registered capital of 5 billion yuan, which has been expanded to 14.5 billion yuan through a combination of equity expansion and capital increase [2] - The new capital structure is primarily dominated by state-owned capital, with significant stakes held by Anhui Energy Group and Hefei Industrial Investment, among others [2] - The company is recognized as a strategic technology innovation entity rather than merely an energy company, attracting long-term investment from various capital sources [2] Group 2: Commercialization Pathway - A strategic action plan has been developed to accelerate the commercial application of fusion energy, outlining a three-step approach: building a compact fusion energy experimental device (BEST), developing a Chinese fusion engineering demonstration reactor (CFEDR), and progressing towards commercial power generation [3] - Fusion New Energy is actively advancing the BEST project and planning for subsequent operational arrangements, with the CFEDR project being essential for future commercial fusion power plants [3] Group 3: Role Definition and Industry Positioning - By 2024, Fusion New Energy has clarified its three main roles: as the sole成果转化平台 for magnetic confinement nuclear fusion, as the chain leader in controllable nuclear fusion energy, and as a pioneer in the industrialization of controllable nuclear fusion in China [4] - The company has filed over 100 invention patents since its establishment, solidifying its intellectual property portfolio [4] - The fusion industry encompasses technology research, equipment manufacturing, material supply, and commercial applications, indicating a long supply chain with diverse materials and significant demand [4] Group 4: Collaborative Efforts and Engineering Development - Fusion New Energy has established 10 working groups focusing on key components, materials, processes, equipment, and testing, collaborating with various stakeholders across the supply chain [5] - The company aims to achieve low-cost applications by working with upstream and downstream enterprises in the construction of engineering and commercial reactors [5]