Mumgaard: Global energy transition receives only a tenth of required $9T annually
Bob Mumgaard · All-In Summit: Nuclear fusion and the potential for energy abundance · Sep 22, 2023 · at 34:13
Bob Mumgaard, CEO of Commonwealth Fusion Systems, frames global capital allocation needs for energy infrastructure at the All-In Summit.
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“The energy transition needs somewhere, various estimates put it, about nine trillion dollars a year globally, and we are at a 10th of that.”
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“And we'll start to assemble that machine later this year. And turn it on in this sort of, twenty-twenty-five time frame and get to Q greater than one, more power out than N for the first time probably early twenty-twenty-six.”
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“Because you're just building capital, and there's no operating cost, there's no fuel, and the capital you're building is an order of magnitude less stuff than, say, renewable.”
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