The increase in nuclear fusion innovation has continued for another year, according to the latest patent data reported by Appleyard Lees. However, nuclear power is a tale of two technologies with fission showing the lowest number of patent filings for more than sixty years.
The fourth annual edition of the Inside Green Innovation: Progress Report from the leading intellectual property firm shows that the one hundred and sixty seven nuclear fusion patent filings in 2022 exceeded the one hundred and sixty five filings in 2021. The latter being an almost fifty percent increase on the previous high.
Total funding in the nuclear fusion sector, according to the Fusion Industry Association, has reached more than seven billion dollars, with at least nine hundred million dollars in the past year.
Adam Tindall is an Appleyard Lee Partner. He said, “It is too early to say whether this is now the new ‘steady state’ level for fusion patents, or the early stages of a sustained boom that will lead to real-world, widespread commercial application of a mature technology.”
Recent patent applications in nuclear fusion have focused on less well-researched approaches to fusion, such as plasma generation including particle beam techniques and electrical discharge technologies.
However, the focus on developing new magnet technologies continues. U.K. company Tokamak Energy is investing in a new business division for its magnet technology and continuing to be a top patent filer in the sector. Other top innovators for fusion technology now include the U.K. Atomic Energy Authority.
With regard to territory, the growth of nuclear fusion technology start-up companies in the U.S. is now driving the increase in patent filings more than the previous acceleration led by Asian countries. There are a variety of smaller companies in the U.S. working on fusion research with no single organization dominating current fusion innovation.
Matthew Bennett is an Associate at Appleyard Lees. He said, “As the sector matures, there will likely be consolidation around dominant organizations, with the winners of the innovation race benefiting from strong positions in the market, or at least from a healthy exit. The fusion sector is expanding rapidly and, even though the investment pot is generous, it will quickly be swallowed up by US companies which can show investors they have the necessary IP protections in place for commercializing their technology.”
Patent filings for nuclear fission technology have reached a ten-year low. More than sixty percent fewer than in 2013 and the least recorded since 1963.
Asian countries remain top patent filers in the technology, driven mainly by Korea Hydro & Nuclear Power Co. and Hitachi GE Nuclear Energy. They are focusing on safety-related applications in emergency cooling, monitoring and testing and pressure suppression systems.
The Inside Green Innovation: Progress Report – Fourth Edition’s focus on nuclear energy was selected because of its prominence in the global green innovation conversation. This involvement is referenced in the OECD’s and United Nations’ 17 Sustainable Development Goals and the World Intellectual Property Organization (WIPO) Green Innovation Database, a global innovation catalogue that connects needs for solving environmental or climate change problems with sustainable solutions.