Novatron Fusion Group joins Swedish Ministers for KTH panel debate

Today, our CEO Peter Roos participated in a panel debate at KTH Royal Institute of Technology with Ebba Busch, Minister for Energy, Business and Industry and Deputy Prime Minister, Lisa Ericsson, General Manager for KTH Innovation and CEO for KTH Holding, and Erica Magnergård, CEO for Nordkap.

The discussion underscored the necessity for new tools and innovative approaches to address future needs in Sweden, highlighting the importance of economic endurance for sustainable development. Leveraging Sweden's collaborative culture and strengths was seen as crucial, with a focus on working without prestige and solving problems creatively.

Peter Roos's points revolved around leveraging cultural strengths, focusing on strategic long-term investments, fostering innovation, and prioritizing resource allocation to build a sustainable and innovative future for Sweden. Acknowledgment of limited resources must lead to prioritizing strategic areas for long-term investment, with clear guidelines and a focus on building long-term infrastructure and fostering innovation.

There is a need for an open exchange of ideas and learning from other countries' successes and failures, along with the importance of faster decision-making and a willingness to test new models. Transparency and accountability in the use of public funds were highlighted, with a focus on evaluating the effectiveness of investments to ensure they create value. The challenges faced by startups, including financial constraints and the need for supportive infrastructure, were discussed, highlighting the role of academia and state support in fostering innovation.

Encouragement to maintain a positive outlook on the future and work towards a common goal was given, underscoring the role of government and institutions in accelerating progress and supporting innovation.

We at Novatron Fusion Group would again like to underscore that investments in Swedish Deep Tech are crucial to retain talent in the country and partake in an enormous emerging industry. State engagement is needed to seize opportunities and meet competition.

In Novatron's case, as the only Nordic fusion initiative, a clear and long-term political signal is needed that fusion is an important part of the energy transition, also in Sweden. This includes adapted regulations (as requested by SSM in a report to the government in August 2023) and a national strategy similar to other countries.

It is important to make clear investments in nuclear power to manage the transition, focusing on the best and most modern technology. In nuclear power investments, fusion should be a part: cheap, green, safe electricity that opens up enormous industrial opportunities, with a horizon comparable to other nuclear power.

Financial engagement similar to Germany (1.1 billion Euros), the UK (UKAEA with 3000 employees), and as now also discussed in the EU Commission, is needed in Sweden. Even though private capital is queuing up for fusion, it is about building up or complementing a national energy ecosystem – it cannot solely be a private affair.

It is interesting to note that Calle Berglöf visited Novatron Fusion Group and that fusion will likely become an important part of his mission to deliver by 2045. The EU is gaining momentum, with von der Leyen's statement, the Commission's high-level conference, and interest from the Commission in the fusion initiative in Sweden, including visiting the facility here at KTH.