Gov. Tony Evers on Thursday signed Act 165 into law, which creates a sales and use tax exemption for nuclear fusion projects.
The goal of the bill is to bolster fusion energy development and commercialization in Wisconsin.
Realta Fusion praised passage of Act 165
“This is a clear and strong signal from Governor Evers and the state Legislature to make Wisconsin a major hub in the growing fusion industry,” Realta Fusion CEO and co-founder Kieran Furlong said in a statement. “This ambitious, bipartisan bill will attract fusion developers and supply chain manufacturers to the state, as well as stimulate the creation of new fusion start-ups here. Wisconsin is now open for business on fusion.”
The 5 Lakes Institute said the “first-of-its-kind legislation” will make Wisconsin globally competitive as a fusion energy hub.
“It is critical for long term economic success to choose promising technologies and surround them with all available resources,” Kathleen Gallagher, executive director of
5 Lakes Institute, said in a statement. “Governor Evers and an overwhelming majority of our state legislators have made clear their vision for Wisconsin as a leader in this fast-emerging technology.”
AB657 passed by 92-6 in the Assembly and 30-3 in the Senate.
The state already has made great headway into fusion energy with Realta Fusion, Shine Technologies and Type One Energy. Plus, the University-of-Wisconsin-Madison is one of the top schools in the nation for fusion energy research.
The Wisconsin Technology Council, an independent, nonpartisan science and technology adviser to the governor and Legislature, also applauded the bill passing.
“This legislation helps ensure that cutting-edge fusion technologies developed in Wisconsin can also be commercialized and built here at home,” Maggie Brickerman, president of the Wisconsin Technology Council, said in a statement.
The first grid-scale fusion power plants are expected to be operational in the early 2030s.
The fusion energy industry is estimated to reach $550 billion annually by 2050.
