Realta Fusion and Madison Gas and Electric (MGE), along with its parent company MGE Energy, Inc., have entered into a partnership to explore the development of a 200-megawatt fusion energy power plant in Wisconsin. It could be the first in the state.
As part of the first phase of the agreement, MGE Energy has made an equity investment in Madison-based Realta Fusion, according to a press release from Realta. MGE also plans to provide equipment, engineering and technical support, as well as assistance with potential siting, permitting, interconnection and financing for a future power plant.
The companies have not announced a proposed location or timeline for construction.
Realta is developing fusion energy systems using magnetic mirror technology, a method designed to contain the conditions needed to produce energy through nuclear fusion. The company is working to develop compact, scalable and modular systems for commercial power generation.
A 200-megawatt plant would represent a significant step toward commercial deployment of fusion energy technology, which remains under development globally.
“Fusion energy will be the ultimate source for zero-carbon electricity for humanity’s growing needs, and now we have a forward-thinking partner in MGE ready to help us make fusion real,” Realta CEO Kieran Furlong said in a statement.
The partnership expands an existing relationship between the two companies. Realta recently announced plans to lease approximately 250,000 square feet of office and industrial space at OM Station, the former Oscar Mayer plant and headquarters in Madison, for a research and development facility known as The Realta Forge.
MGE Chairman, President and CEO Jeff Keebler said the partnership reflects the utility’s interest in emerging energy technologies that could provide carbon-free electricity.
“At MGE, we’ve long believed that achieving a net-zero carbon future requires innovation, partnerships and a willingness to explore emerging technologies,” Keebler said. “Realta is developing a promising fusion technology right here in Madison, and this collaboration reflects our commitment to exploring emerging technologies that have the potential to deliver reliable, around-the-clock carbon-free energy for our customers and communities.”
MGE, which provides electricity to approximately 170,000 customers in Dane County, has set a goal of providing net-zero carbon electricity by 2050.
Realta Fusion is based in Madison and operates the Wisconsin HTS Axisymmetric experimental fusion machine at the University of Wisconsin-Madison’s Physical Sciences Laboratory. The company is among eight businesses selected for the U.S. Department of Energy’s Milestone-Based Fusion Development Program.
The proposed plant would be subject to further development, siting, regulatory approvals and financing.
