Nuclear fusion has long been the study of scientists looking for a cleaner source of energy. Different from nuclear fission – that which we associate with nuclear power plants today – in that the waste it produces is significantly less dangerous, and for a much shorter time, than the waste produced by nuclear reactors.
So when noted venture capitalist Wal van Lierop, CEO of Chrysalix Energy Venture Capital, says that in five years time fusion reactors will be a reasonable alternative, you don’t just shake your head. He isn’t just a crackpot off the street preaching cleaner future. van Lierop is one of the earliest and still today one of the most active investors in clean technology.
"Within five years, large companies will start to think about building fusion reactors," van Lierop said in Indian Wells, California, at the Clean Tech Investor Summit this week.
Wal van Lierop’s optimism comes from an angel investment that his company Chrysalix made in General Fusion, a Canadian company. GF believe that they have found a way to skip past the technical problems that has been hampering the production of fusion power generation. Their plan now is to construct small fusion reactors that are capable of producing 100 megawatts of power. Costing around $50 million each, they would allow the company to produce electricity at about 4 cents per kilowatt hour; this would put them in competition with conventional electricity generators.
The company uses a technique called Magnetized Target Fusion (MTF) that, while I won’t go in to it here (just google it) is beneficial over other types of fusion power in that the need for controlled levels of heat is not necessary.
The man who believes that "corn ethanol is a scam” has high hopes for General Fusion’s plans. "I want to see it succeed, not only because I would make a lot of money, but because it would solve many of our problems," van Lierop said.
van Lierop also made several other notes regarding other clean energy alternatives;
• Although onshore wind power is mature, companies building offshore wind turbines have to figure out a way to deal with corrosion and maintenance. It is going to be a big problem that we will hear more about in the next few years.
• Municipalities will soon begin to explore solar microgrids. In this scenario, neighborhoods will get a substantial portion of their power from local solar plants. By delivering power locally, utilities will save on the costs of transporting power.
• Tax breaks and tax holidays may replace solar subsidies in some areas. Electricity is taxed, but utilities offer subsidies to those who install solar power. By switching to microgeneration, cities will find it easier to just forgo taxation rather than try to run a subsidy program.
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Joshua Hill, a Geek’s-Geek from Melbourne, Australia, Josh is an aspiring author with dreams of publishing his epic fantasy, currently in the works, sometime in the next 5 years. A techie, nerd, sci-fi nut and bookworm.
