Nuclear Fusion: Could it be the most important tech revolution since fire?

 

Several public companies are actively advancing fusion energy technology—some directly and others via investments, partnerships, or spinouts. Here’s a breakdown of the most relevant public companies, their role in fusion, and how far along they are:

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🔬 Direct Fusion Developers (Public or Public via SPAC/IPO Route)

1. TAE Technologies (via potential IPO partner)

• Not yet public, but may go public soon (rumored).

• Partnered with: Google, Sumitomo, Chevron, and others.

• Focus: Field-reversed configuration (FRC) fusion.

• Stage: Late prototype phase (Norman machine tested; Copernicus under development).

• Revenue: None (pre-commercial).

➡️ Closest public exposure: through Google (Alphabet - NASDAQ: GOOGL), which supports TAE’s AI modeling.

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2. Helion Energy (indirect via Microsoft & OpenAI links)

• Private, but has agreements with Microsoft (NASDAQ: MSFT) for power purchase starting 2028.

• Backed by Sam Altman (OpenAI CEO) and funded over $600M+.

• Stage: Working on its seventh prototype “Polaris” aiming for net energy in 2024–2025.

• Approach: Pulsed, magneto-inertial fusion (deuterium-helium-3).

➡️ Indirect public exposure: through Microsoft’s deal & Nvidia’s AI involvement.

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3. General Fusion

• Still private, backed by Bezos Expeditions and Canadian government.

• Uses magnetized target fusion (MTF).

• Stage: Demo plant being built in the UK; not yet achieving net energy.

➡️ Public exposure via partners like Schneider Electric (EPA: SU) and potential future IPO.

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⚛️ Public Companies with Fusion Stakes, Investments, or Tech Exposure

4. Alphabet (GOOG/GOOGL)

• Invested in TAE Technologies since 2014.

• Provides AI tools for modeling plasma physics.

• Exposure is indirect, but increasing.

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5. Chevron (NYSE: CVX)

• Invested in TAE Technologies and Zap Energy.

• Actively seeking clean energy diversification via fusion R&D partnerships.

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6. Lockheed Martin (NYSE: LMT)

• Has a Skunk Works compact fusion reactor program.

• Approach: High-beta magnetic mirror machine.

• Stage: Prototype still under wraps; unproven if scalable yet.

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7. BWX Technologies (NYSE: BWXT)

• Designs nuclear reactors and components; has contractual work supporting fusion R&D (including work with the U.S. DOE and national labs).

• Strong positioning as a supplier for fusion devices in the long term.

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🧪 Companies with Research or Supply Chain Roles

8. Honeywell International (NASDAQ: HON)

• Involved in advanced materials, control systems, and diagnostics used in plasma and reactor control.

• May benefit as a supplier or integrator.

9. Cameco (NYSE: CCJ / TSX: CCO)

• World’s largest uranium supplier, and could benefit if tritium breeding becomes commercially viable in deuterium-tritium fusion.

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🔮 Most Advanced Fusion Developers (Private, but IPO Possible Soon)

Company	Current Status	Energy Gain?	Target Deployment	Public Access
Helion Energy	Building Polaris	Expected 2024	By 2028 (MSFT deal)	Not yet, via MSFT
TAE Technologies	Developing Copernicus	No	2030s	Not yet, via GOOG
General Fusion	Demo plant building	No	~2030	Private
First Light Fusion	UK-based, uses projectile impact fusion	No	Late 2020s–2030s	Private

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💡 Summary: Public Companies You Can Buy Now with Fusion Exposure

Company	Ticker	Role in Fusion	Development Stage
Alphabet	GOOG/GOOGL	TAE Technologies investor	R&D support
Microsoft	MSFT	Power-purchase deal w/ Helion	Commercialization target 2028
Chevron	CVX	Investor in TAE & Zap	Diversification into clean energy
Lockheed	LMT	Compact fusion R&D	Prototype-only
BWX Tech	BWXT	Component supplier	Steady nuclear work
Honeywell	HON	Controls & materials	Support role

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If you're looking for direct exposure to pure-play fusion, no company is publicly listed yet—but Helion, TAE, and Zap Energy are the most likely IPO candidates in the next 2–3 years.

Here’s a two-part response for a potential fusion-themed investment portfolio, blending current public exposure with speculative positioning for future IPOs:

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✅ PART 1: Fusion-Linked Public Portfolio Strategy (2025)

These companies either invest in fusion developers, supply critical technology, or stand to benefit from commercialization.

Ticker	Company	Role in Fusion	Allocation (%)	Rationale
GOOG / GOOGL	Alphabet	Investor in TAE Technologies	25%	AI support and early fusion R&D exposure through TAE. Also exposed to AI and quantum.
MSFT	Microsoft	Fusion power offtake agreement with Helion Energy	25%	First fusion-related energy buyer. Strong play on applied AI and commercial deployment.
CVX	Chevron	Investor in multiple fusion ventures	15%	Early mover among oil majors diversifying into fusion.
LMT	Lockheed Martin	Proprietary compact fusion project via Skunk Works	10%	High-risk, high-reward. Long R&D cycle.
BWXT	BWX Technologies	Supplier to DOE & nuclear fusion systems	10%	Strong play on infrastructure and manufacturing know-how.
HON	Honeywell	Systems integration, sensors, materials	10%	Likely supplier for industrialized fusion plants.
Cash or Bonds	-	For future IPOs or market volatility	5%	Hold for IPOs (TAE, Helion, General Fusion, Zap Energy).

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🚀 PART 2: Speculative Fusion IPO Watchlist (2025–2027)

These private companies are furthest along in fusion and could IPO in the coming years:

Company	Approach	Why It Matters	IPO Outlook
Helion Energy	Magneto-inertial pulsed fusion	First to have utility contract (Microsoft); aims for net energy by 2025	High potential by 2026
TAE Technologies	Field-reversed configuration	Largest private funding, strong industrial partners (Google, Chevron, Japan’s Sumitomo)	IPO likely 2025–2026
Zap Energy	Sheared-flow stabilized Z-pinch	Ultra-simple architecture, compact reactor design	Later-stage, maybe 2026+
General Fusion	Magnetized target fusion	Backed by Bezos, demo plant in UK underway	May IPO via Canadian or UK route by 2026
First Light Fusion	Inertial projectile (UK)	Unique projectile fusion approach	May go public in London by 2025

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🔮 Optional "Aggressive Edge" Plays

speculative bets:

• Consider small positions in Nvidia (NVDA) for AI-modeling fusion physics and software.

• Watch for Canadian defense or nuclear companies potentially supporting General Fusion (e.g., SNC-Lavalin / AtkinsRéalis).

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📌 Final Thoughts

• Short-term: Play the enablers (MSFT, GOOG, BWXT).

• Mid-term: Watch for IPOs and allocate cash accordingly.

• Long-term: If even one private fusion developer delivers commercial net-positive energy, valuations for all related names will re-rate.

Who might be interested in Acquiring Chargepoint's EV charging network?

 Feb 11th 2025

We have been "Stopped out" of Chargepoint shares.

O U C H !!! Sometimes speculation can hurt! (even if it's just 1% of your portfolio)

However, the article remains to see what happens. CHPT moved to our watch list for now!

This articles is speculative as, there’s no concrete evidence or official announcement that ChargePoint is on the block or that any particular company has definitive plans to buy them. 

With that said, here’s how one might reason about who could be most interested and best positioned to acquire ChargePoint:

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1. BP

• Why BP?

  • BP has already made several moves in EV charging—e.g., acquiring Chargemaster (now BP Pulse) in the U.K. and AMPLY Power in the U.S.
  • They have a strategic objective to diversify into lower-carbon businesses.
  • Synergies: BP can integrate ChargePoint’s network and technology with its vast global fuel retail footprint, particularly in North America where ChargePoint is strong.

• Why It Makes Sense

  • Instant Scale: ChargePoint’s extensive network would give BP an immediate, top-tier presence in the U.S. EV charging market.
  • Shareholder Pressure: As BP transitions to an “integrated energy company,” a big EV charging acquisition is a visible commitment to that strategy.

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2. Shell

• Why Shell?

  • Shell has been aggressive in the clean energy and EV charging space, acquiring companies like Greenlots in the U.S. and Ubitricity in Europe.
  • Shell’s gas station network and convenience retail model could seamlessly add another major EV charging brand to its portfolio.

• Why It Makes Sense

  • Global Reach: Shell operates in nearly every corner of the globe, so acquiring ChargePoint would bolster Shell’s expansion of EV charging stations in North America—and potentially integrate ChargePoint hardware/software in other regions.
  • Proven Track Record: Shell has demonstrated it’s willing to buy established charging companies rather than build from scratch.

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3. Chevron

• Why Chevron?

  • Chevron is somewhat late to the EV charging race compared to BP and Shell. It made smaller-scale moves (e.g., partnering with EVgo), but not a blockbuster acquisition yet.
  • If Chevron wants to catch up fast, ChargePoint—with hardware, software, and thousands of locations—would be a big leap forward.

• Why It Makes Sense

  • Competitive Response: With BP and Shell scaling in EV charging, Chevron might not want to be left behind in the future fueling landscape.
  • U.S. Focus: ChargePoint’s largest market is the U.S., which aligns well with Chevron’s strong North American presence.

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4. TotalEnergies

• Why TotalEnergies?

  • TotalEnergies (formerly Total) is actively investing in renewables and EV charging across Europe. They’ve acquired several smaller charging players and are building out networks in France and beyond.
  • They could see ChargePoint as a chance to expand rapidly in North America—an area they’re not as strong in yet compared to Europe.

• Why It Makes Sense

  • Diversification: TotalEnergies is rebranding itself as a broad-based energy company. Picking up a major EV charging firm like ChargePoint would bolster that identity.
  • Technology & Software: ChargePoint’s robust cloud-based software platform could be integrated globally with TotalEnergies’ existing networks.

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5. Large Utilities or Conglomerates

• Potential Players: NextEra Energy, Iberdrola, Engie, E.ON, or even Berkshire Hathaway (through its energy subsidiary).
• Why a Utility?
  • Utilities have a natural link to EV charging—electricity supply is their core business, and installing chargers helps grow their load and services.
• Why It Makes Sense
  • Grid Integration Expertise: Utilities already manage power distribution, so owning a charging network offers potential vertical integration.
  • Regulatory & Infrastructure Experience: Utilities are used to capital-intensive projects and have relationships with regulators, helping to streamline infrastructure deployment.

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6. An Automotive or Tech Giant

• Potential Players: GM, Ford, or even Amazon.
• Note: Chargepoint recently partnered with GM to extend their EV charging network)
• Why an OEM or Tech Firm?
  • GM and Ford (and other automakers) have partnered with third-party charging networks but haven’t outright purchased one of the largest networks.
  • Amazon might be interested in EV charging for its delivery fleet and consumer ecosystem.
• Why It Makes Sense
  • Vertical Integration: Automakers are increasingly looking to control more of the EV value chain—battery supply, software, and charging infrastructure.
  • Ecosystem Play: A tech giant could bundle EV charging with other services (e.g., Amazon’s logistics and retail ecosystem).

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The “Best Positioned” Takeaway

• BP and Shell arguably have the most well-defined strategies and track records in the EV charging space among oil majors, making them the likeliest candidates if a deal were ever to materialize.
• Chevron or TotalEnergies might be a close second if they decide to leapfrog organically building a U.S. network.
• Utilities or Tech Giants could be surprise acquirers, but they’d have to justify an acquisition of ChargePoint’s scale and align it with their core business models.

In the end, any prospective buyer would be looking for:

1. Immediate Scale and Network: ChargePoint is one of the largest EV charging networks, particularly in North America.
2. Brand and Technology: ChargePoint’s software, hardware, and partnerships (with businesses, municipalities, and fleets) would save an acquirer years of development time.
3. Strategic Fit: Whether it’s an oil major pivoting to renewables, a utility expanding its electric footprint, or an OEM/tech giant securing charging for its customers, each potential acquirer must see a clear path to synergy and long-term ROI.

Again, all of this is speculative—but from a strategic standpoint, BP or Shell are commonly viewed as the most logical suitors if (and it’s a big “if”) ChargePoint were ever up for sale.

ED Note: Full Disclosure

We have been accumulating CHPT shares!