A Wellington-based company has secured $35 million in funding to build a clean fusion power facility, joining the global race to commercialise the holy grail of energy production.
While fusion has been "thirty years away" for decades, this New Zealand effort represents the country's bet on next-generation energy technology.
RNZ reports that OpenStar Technologies has received funding from the Regional Infrastructure Fund to build a new research facility housing their next-generation device called "Tahi."
Mate, fusion is the energy dream: replicate the sun's power generation process, produce massive amounts of clean energy, with water as the primary waste product. No carbon emissions, no long-lived radioactive waste, near-limitless fuel supply.
The catch? Nobody has made it commercially viable yet. Fusion has been perpetually "just around the corner" since the 1950s.
OpenStar is using a levitated dipole approach - a unique method that recreates the magnetic conditions found in the sun's core using a powerful superconducting magnet suspended inside a very large vacuum chamber.
This is New Zealand punching above its weight in advanced energy tech. The question is whether it's genuine progress toward commercial fusion or another over-hyped venture that will consume funding without delivering results.
The timing is interesting. New Zealand already has abundant renewable resources - hydropower, geothermal, wind, solar. Why invest scarce capital in experimental fusion technology when proven renewables can decarbonise the grid?
The answer might be long-term strategic positioning. If fusion does eventually become commercially viable, New Zealand could have domestic expertise and intellectual property in a transformative technology. That's the optimistic view.
The skeptical view is that $35 million could deliver far more immediate climate impact if invested in proven renewable infrastructure, energy efficiency, or grid modernisation.
Fusion's promise has captivated scientists and investors for generations. OpenStar's funding represents New Zealand's bet that this time might be different. Whether that bet pays off won't be known for years, possibly decades.
