UK Fusion Firm First Light Fusion Pivots Away From Reactor Construction

UK-based nuclear fusion company First Light Fusion has suffered a 60% valuation drop after abandoning plans to build its first reactor due to funding issues. The company's 'projectile fusion' technology, involving firing a projectile at a fuel cell, proved too costly to develop into a power plant. Instead, First Light will now license its 'amplifier' technology, which boosts fusion reactions, to other nuclear power companies. This pivot aims for a more capital-efficient model and faster revenue generation. The decision comes amidst increased competition from China's advancements in fusion technology and highlights the challenges in commercializing this promising but complex energy source.