SEATTLE--(BUSINESS WIRE)--May 31, 2023--
Zap Energy was selected by the Department of Energy (DOE) today for support of the conceptual design of a fusion pilot plant (FPP) through the DOE’s Milestone-Based Fusion Development Program.
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Zap Energy is developing a fusion pilot plant using the company’s sheared-flow-stabilized Z pinch plasma core. (Photo: Business Wire)
The award of $5 million in federal funding will contribute to the development of a pilot plant using Zap’s sheared-flow-stabilized Z-pinch fusion technology. The company also committed to targets including a community benefits plan to engage with neighbors and stakeholders while planning and building a clean-energy fusion power station.
“Zap’s selection reflects our tangible progress toward an achievable, grid-ready power source,” said Benj Conway, CEO and Co-founder of Zap Energy. “This program aligns with our aggressive milestones and bolsters our ability to succeed as quickly as possible.”
The DOE awarded the underlying public-private funding to fusion companies as part of the Energy Act of 2020. The Milestone-Based Fusion Development Program aims to help for-profit entities achieve technical and commercial milestones in creating a successful design of a fusion pilot plant.
About Zap Energy
Zap Energy is building a low-cost, compact and scalable fusion energy platform that confines and compresses plasma without the need for expensive and complex magnetic coils. Zap’s sheared-flow-stabilized Z-pinch technology provides compelling fusion economics and requires orders of magnitude less capital than conventional approaches. Zap Energy has over one hundred team members in two facilities near Seattle and is backed by leading financial and strategic investors. Visit Zap online at zapenergy.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230531005067/en/
CONTACT: Andy Freeberg
Head of Communications
media@zapenergyinc.com
KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON
INDUSTRY KEYWORD: OTHER ENERGY ALTERNATIVE ENERGY ENERGY RESEARCH NUCLEAR SCIENCE
SOURCE: Zap Energy
Copyright Business Wire 2023.
PUB: 05/31/2023 03:00 PM/DISC: 05/31/2023 03:01 PM
http://www.businesswire.com/news/home/20230531005067/en
