Fusion energy, potentially a fuel source that could last a thousand years, is transitioning from science fiction to business reality. Helion Energy recently signed the first fusion power purchase agreement with Microsoft, promising 50 megawatts by 2028. But the story isn't just about the physics breakthroughs that make fusion possible. The U.S. and China are tussling for global leadership in fusion, as is the case in so many fields. And as China is outspending the US on fusion research by about $1.5 billion annually, concerns mount that they could make a serious challenge to America's lead in fusion. After all, while the US pioneered advances in clean energy technologies like solar panels and EVs, America ultimately lost manufacturing leadership to China.

With fusion, the stakes could be much higher, given that fusion has the potential to be the world's "last energy source," with significant economic and national security implications. Evan is joined by Sachin Desai, General Counsel at Helion Energy and former Nuclear Regulatory Commission staffer, and Thomas Hochman, Director of Infrastructure Policy at FAI. They discuss the technical, regulatory, and geopolitical dimensions of what could be this decade's most consequential technology race.