Fusion energy stocks are publicly traded companies that are investing in fusion energy. Fusion energy is a powerful force. It's the same process that the sun and other stars use to make energy. If we could harness the power of fusion energy for commercial applications, it would be a truly groundbreaking achievement. Fusion could provide a nearly limitless source of continual clean energy. Even better, fusion energy doesn't come with the safety concerns of nuclear power, the environmental issues of fossil fuels, or the intermittency problems of renewable energy.
Scientists and engineers worldwide have been looking to recreate and harness the power of fusion energy for almost 100 years. Several companies are investing in efforts aimed at commercializing fusion energy. Here's why you'll want to consider investing in fusion energy and some notable companies investing in this exciting technology.
Why invest in fusion energy?
Fusion energy holds immense promise. Here are some reasons to consider investing in the sector:
- Clean power: Unlike nonrenewable energy sources like oil, natural gas, coal, and nuclear energy, fusion energy doesn't produce greenhouse gases or other air pollution. It also doesn't melt down or produce high levels of radioactive waste like nuclear energy.
- Baseload power: Fusion energy doesn't have the intermittency problems of some forms of renewable energy. Fusion energy would be an always-on clean energy source, making it ideal for the baseload power needed to run our modern world.
- Abundant energy source: Fusing atoms in a controlled environment releases four times the energy as nuclear fission reactions at equal mass and almost 4 million times more energy than from the chemical reaction of burning coal, oil, or natural gas. Meanwhile, the elements required to produce fusion energy (deuterium and tritium) are abundant enough that we could produce fusion energy for millions of years.
According to the Fusion Industry Association, most of its member companies (89%) believe that fusion can provide electricity to the grid by the end of the 2030s. However, getting there will require a lot more funding. The industry has poured more than $9.8 billion into fusion energy investments over the years. The sector raised $2.6 billion over the 12-month period ending in July 2025. That's a significant increase from the previous year and its second-highest yearly total.
The fusion industry has achieved several significant milestones over the years. One of the biggest came in 2022 at the Lawrence Livermore National Laboratory. The National Ignition Facility conducted the first controlled fusion experiment in history that produced more energy from fusion than the laser used to create it.
The industry expects to reach the point where it will be able to produce commercial power sometime in the coming decades. The most ambitious timeline is from Helion Energy, which expects to start producing commercial power from its first plant by 2028. It will sell that electricity directly to technology giant Microsoft (MSFT +0.59%) to help power its operations.
How to invest in fusion energy companies
Fusion energy holds tremendous potential to provide the world with almost limitless clean power. However, the industry is likely far away from achieving commercially viable fusion power, especially at the scale needed to help meet the world's surging need for electricity. And none of the companies working on fusion energy trade publicly, so you can't invest in a pure-play fusion energy stock just yet.
However, you can invest in a company that has made an investment in fusion energy. Here are some of the notable publicly traded companies with fusion-powered upside potential.
1. Alphabet (Google)
NASDAQ: GOOG
Key Data Points
Technology titan Alphabet's (GOOG +2.70%)(GOOGL +2.70%) search arm, Google, has partnered with TAE Technologies for more than a decade to help develop fusion energy to power its artificial intelligence (AI) and computing power needs one day. The nuclear fusion start-up has a bold goal to develop a commercial-scale fusion reactor that can deliver energy to the grid by the early 2030s. Google subsequently invested directly in TAE Technologies in 2022 to provide it with capital to help commercialize its fusion energy technology. It also invested directly in Commonwealth Fusion Systems in 2021. It deepened its relationship with Commonwealth in 2025 by increasing its stake in the company and signing a power purchase agreement to buy 200 megawatts of electricity from its first ARC power plant in Virginia, which should start producing in the early 2030s.
2. Chevron
NYSE: CVX
Key Data Points
Global oil and gas giant Chevron (CVX -0.64%) has been slowly investing in the future of energy. The company formed Chevron Technology Ventures (CTV) to invest in new technologies that could enhance the company's operations. In 2020, CTV invested in Zap Energy, which is developing a next-generation nuclear reactor with an innovative approach to advance commercially scalable fusion energy. The oil company followed that up in 2022 by joining Google and investing in nuclear fusion start-up TAE Technologies. Both companies provided additional capital to TAE in 2025.
3. Cenovus Energy
NYSE: NUE
Key Data Points
Steelmaker Nucor (NUE +0.25%) unveiled a collaboration with nuclear fusion start-up Helion in 2023. Helion plans to develop a 500-megawatt fusion power plant to supply zero-carbon electricity from fusion directly to a Nucor steel plant. They're working to get the plant online as soon as possible, with a target of 2030. Nucor made a $35 million direct investment into Helion as part of the partnership to help accelerate the deployment of fusion energy.
5. Microsoft
NASDAQ: MSFT
Key Data Points
Technology giant Microsoft hasn't made a direct equity investment in fusion energy. However, it was the first company to agree to buy fusion power from Helion Energy's inaugural plant, which it expects will come online in 2028. The 50-megawatt contract will enable Helion to commercialize the project, which will help meet Microsoft's almost insatiable demand for energy to power its AI and cloud computing operations. It could be the first of many agreements Microsoft signs to buy fusion power to support its clean energy needs.
6. Eni
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A very promising technology
Fusion energy could be the silver-bullet technology that enables the world to produce enough power to meet its growing needs without causing any additional harm to the environment. While many companies are working on fusion energy, the promising power technology isn't yet at the stage where it can produce commercially viable electricity for the grid. It will require continued investment to reach that point, which could be many years away. So, while the technology holds immense promise, it can't fuel returns for investors in the near term. In the meantime, investors can consider companies that have invested in the sector in hopes they find the key to unlocking the immense potential of this promising energy source.
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