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Type One energy has announced its intention to use a retired TVA coal plant site, the Bull Run Fossil Plant in Oak Ridge, Tennessee, as the site for a prototype fusion reactor with the hope to eventually commercialize fusion power – and maybe even find a neat way to use old EV batteries to help power the process.

The Bull Run Fossil Plant was a coal-powered generation facility first opened in 1967 and shut down on December 1, 2023 – just over two months ago. It was run by the Tennessee Valley Authority (TVA), the largest public utility in the US, and sits just across the river from Oak Ridge, the site of the Oak Ridge National Laboratory (ORNL), one of America’s most important national science labs.

Despite only being shut down for two months, claims are already being made on the site. Due to its close location to ORNL, a lab that has studied fusion since the 1950s, it seems a natural choice for another fusion experiment – enter Type One energy, a company looking to work toward the commercialization of fusion power.

Type One Energy ambitiously gets its name from Type I on the Kardashev scale, a theoretical measurement intended to describe how advanced a civilization is. A Type I civilization is able to harness all of the energy available on a single planet – currently, humanity’s total energy production is about three orders of magnitude, or a thousand times, below this benchmark.

So, just starting with the name, Type One’s goals seem… optimistic, to say the least.

What is fusion?

For a basic primer on what we’re talking about here, Nuclear Fusion differs significantly from Nuclear Fission. Fusion is the reaction that happens inside of stars like our Sun, whereas Fission is what powers current commercial nuclear reactors.

Fission, in current nuclear reactors, takes large, rare, radioactive atoms (like Uranium-235) and splits them apart, which releases energy when the bonds between neutrons in the nucleus of these atoms are broken. The major downside is that this reaction creates radioactive material, with nuclear waste still being an unsolved problem.

Fusion, however, works by taking smaller atoms and fusing them together. The most promising fusion reaction uses deuterium and tritium, two rare isotopes of hydrogen that have extra neutrons in their nuclei. Deuterium is rare, but still relatively easily found in normal seawater (about one in every 6,000 natural hydrogen atoms are deuterium), whereas tritium is almost nonexistent in nature and would be manufactured by splitting lithium atoms.

Incidentally, this is a potential use for lithium from old EV batteries.

When the deuterium and tritium atoms are fused together it creates a normal helium atom and releases a free neutron, from which energy can be harvested.

The upside of fusion is that it does not produce long-lived radioactive waste, and that it is incredibly energetic, with the amount of deuterium in 1 gallon of ordinary seawater (about half a milliliter of deuterium) theoretically able to generate the amount of energy from combusting 300 gallons of oil. Fusion reactors are also considered to be inherently safer as there is no possibility of a meltdown.

The downside is that fusion requires extremely difficult conditions to occur, and those conditions cost a lot of energy to maintain. You can get a hint of this by looking at the location where fusion naturally happens – at the center of stars, at temperatures of tens of millions of degrees and pressures of trillions of pounds per square inch.

The state of fusion today

So it sounds like a science fiction concept, and ever since it was first envisioned in the 1950s, it has been. Humanity has never been able to achieve a fusion reaction that generated more energy than it took to create… until recently.

You may have heard the news last year that scientists had achieved “net energy gain” from a fusion reaction. This means that more energy was released by the fusion reaction than the amount of energy from the lasers used to produce the temperatures needed. This is denoted by the symbol Q, with Q numbers above 1 meaning net energy gain. The current record is Q = 1.54.

But that’s not everything, because not all of that energy can be effectively harnessed, so in order to reach the point where fusion actually becomes viable for electricity generation, the reaction must create enough energy to become self-sustaining – as long as more deuterium/tritium fuel is added, the reaction will continue, much like adding more logs to an already-burning fireplace.

The primary technology advancement needed for the Type One facility is high-temperature superconducting magnets, which have generally seen remarkable progress in recent years and are now the focus of multiple companies working to adapt the basic technology for fusion energy applications. Given what is known from a scientific development standpoint, ORNL considers the step envisioned by Type One as reasonable and achievable. While success is not guaranteed, we view the risk-to-reward profile of this facility as appropriate. If successful, the results from this facility would provide a solid basis for a second-generation facility focused on energy production.

Mickey Wade, associate lab director of fusion and fission energy and science, ORNL

For a self-sustaining reaction, a ratio of about Q = 5 is thought to be necessary to reach the level of viability for electricity production. But once that milestone is reached, Q increases arbitrarily, because the self-sustaining nature of the reaction means that little to no energy will be needed to be spent externally to maintain the reaction.

Type One’s plans

Type One thinks it can reach this milestone, though probably not for years still – it sets the target at about a decade from now. As of now, it wants to build a prototype reactor it’s calling Infinity One at the Bull Run site, with the intent of “retiring risks” before building a future pilot power plant.

There are a number of other fusion reactors in the world, but most of them are from public institutions run by academic, governmental, or intergovernmental sources. There are a few other fusion startups, but Type One thinks that it will be the first private company to build a functional stellerator prototype. Fusion reactors come in two types: stellerators and tokamaks, with each having their advantages but tokamaks being more common.

Stellerators have a “funky” shape because it helps keep the plasma more stable, but they are harder to construct. Tokamaks just look like a donut.

Many of the company’s personnel have already been part of stellerator projects in other settings, so there is plenty of expertise associated – including CTO Dr. Thomas Sunn Pederson, who we spoke to for this story, who previously worked on the record-setting W7X stellerator in Germany.

The plan has been enough to get the company noticed by some government entities, with the Department of Energy choosing it as one of eight companies to receive part of $46 million in funding. Here’s the full list of those companies, six of which ORNL is also partnering with:

  • Commonwealth Fusion Systems (Cambridge, MA)
  • Focused Energy Inc. (Austin, TX)
  • Princeton Stellarators Inc. (Branchburg, NJ)
  • Realta Fusion Inc. (Madison, WI)
  • Tokamak Energy Inc. (Bruceton Mills, WV)
  • Type One Energy Group (Madison, WI)
  • Xcimer Energy Inc. (Redwood City, CA)
  • Zap Energy Inc. (Everett, WA)

Type One is also the first company to receive grants via a new Tennessee program to encourage innovation and investment in nuclear energy, and closed an investment seed round of $29 million last year.

As for involvement from TVA and ORNL, both entities are “collaborating” with Type One, but are a little more measured in their expectations than the company itself is.

TVA is a clean energy leader. With the retirement of Bull Run plant, TVA is in the unique position to partner with Type One and ORNL to explore the repurposing of a portion of the facility toward the advancement of fusion energy research.  As TVA works to be net-zero by 2050, we must work together to identify potential clean energy technologies of the future. Being able to further the advancement of fusion energy research provides a win-win proposition for TVA and the people of the valley.

-TVA spokesperson

Despite Type One’s announcement today of its selection to pursue the use of TVA’s Bull Run site, TVA issues a reminder that the project is contingent on proper completion of necessary environmental reviews, permits, operating licenses and so on. While TVA has signed a memorandum of understanding with the company and with ORNL, it hasn’t yet formally agreed to lease part of the property to Type One. But it does see the unique opportunity to use a former coal for research into the future of energy, especially in a spot that’s so close to one of the centers of American fusion research at Oak Ridge labs.

Construction on the pilot research project could start as early as 2025, and be completed as early as 2028.

Electrek’s Take

This story interested me primarily due to the angle of turning a site that used to generate the dirtiest possible electricity into one that generates what would likely become the cleanest form of electricity, which is quite poetic.

And fusion energy, in particular, has incredible promise if it’s ever achieved. It could solve a tremendous amount of our societal problems – but like everything else, this only works if the benefits are properly distributed, and our current sociopolitical systems aren’t all that great at doing that.

But it could, at least, help to solve climate change, by offering a highly energetic energy source that also releases zero emissions, and has even fewer auxiliary impacts than other current clean energy sources (e.g. habitat disruption, panel/turbine recycling, and so on). And, relevant to Electrek, if lithium is needed to make tritium, then that gives us something we could use recycled EV batteries for, which is pretty cool.

But we also shouldn’t get too far ahead of ourselves here, because it sounds like this project is in very early stages. Today’s press release is a pretty minor step – Type One is just announcing the site that it wants to use, which hasn’t even been secured yet. And while we had a great conversation with Type One, the responses we got from TVA and ORNL were much more noncommittal. So there was an excitement disconnect there, which is to be expected between a company and a government entity, but it still reminded us that all of this is still some ways off.

So there’s a lot of steps between here and fusion energy, and frankly, I think that the biggest breakthroughs in fusion are not likely to come from a private company but from academic or governmental research, at least for the time being.

We will eventually need companies to come in and figure out commercial viability, so getting started on that earlier than later is all well and good, but we’re still going to be waiting for a while before that viability happens – and unfortunately, we don’t have time to wait to solve climate change. So, while fusion might help, we still need to get to work now on emissions reductions immediately.

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5 European stocks to watch this earnings season as Trump’s tariffs hit

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5 European stocks to watch this earnings season as Trump's tariffs hit

'Too early to tell' tariff impact on ASML, analyst says

Investors are entering 2025’s first-quarter earnings season with a huge cloud of uncertainty hanging over them — thanks primarily to U.S. President Donald Trump’s tariffs.

The scale of duties announced in April, along with the volatility injected by subsequent updates and reversals in policy, have so far exceeded even the most bearish forecasts.

Negotiators from the European Union and the U.K. are in talks with U.S. officials to try to alleviate their respective 25% and 10% blanket tariffs, while also grappling with broader tariffs on steel, aluminum and autos. Meanwhile, the rest of the world watches on to see whether red-hot tensions between Washington and Beijing will cool, averting a trade war between the two biggest economies that would have far-ranging repercussions.

Latest trade developments between the European Union and the U.S.

Two major earnings reports have already landed in Europe, providing an indication of the tone to come.

Luxury giant LVMH said its categories such as beauty, wines and spirits were vulnerable to a pullback in spending by “aspirational clientele.” Dutch semiconductor firm ASML, which manufacturers chipmaking machines critical to global tech, said tarifs were “creating a new uncertainty” around demand. But neither was able to quantify the scale of the impact.

Here are five other major European firms yet to report earnings that could face big hits from the tariff turmoil.

Maersk

Danish shipping giant Maersk, a bellwether for global trade, is poised to report first-quarter earnings on May 8. Shares of the company have been highly volatile in recent weeks, moving sharply as investors react to the Trump administration’s back-and-forth tariff announcements.

An escalating trade war between the U.S. and China, the world’s two largest economies, has been a major source of concern for the maritime and transport sector.

Cargo ships and containers at Qingdao port in eastern China's Shandong province on Dec. 4, 2024.

Global trade outlook has ‘deteriorated sharply’ amid Trump tariff uncertainty, WTO warns

Analysts expect Maersk’s first-quarter earnings before interest, depreciation, taxes and amortization (EBITDA) to come in at $2.3 billion, according to an LSEG-compiled consensus, down from $3.6 billion in the final three months of 2024.

Maersk earlier this month described the U.S. tariffs as “significant” and — in their current form — clearly not good news for the global economy, stability and trade.

“It is still too early to say with any confidence how this will ultimately unfold. We need to see how countries will respond to these plans — and to what extent they choose to negotiate, impose counter-tariffs, adjust import duties, or pursue a combination of these measures,” the company said in a statement on April 3.

Shell

Shell is scheduled to report first-quarter earnings on May 2. It comes after the British oil giant in March announced plans to boost shareholder returns, cut costs and double down on its liquefied natural gas (LNG) push.

In a later trading update, Shell trimmed its first-quarter LNG production outlook, citing unplanned maintenance, including in Australia.

A Shell logo in Austin, Texas.

Brandon Bell | Getty Images News | Getty Images

Oil and gas stocks have been caught up in tariff-fueled market turmoil in recent weeks, with energy majors exposed to growing recession fears, subdued oil demand and falling crude prices.

Analysts at wealth manager Hargreaves Lansdown said earlier this month that Shell’s “sharpened focus on efficiency and quality leaves it well-placed to grow free cash flow and shareholder distributions.”

But it can’t control the oil price, Hargreaves Lansdown noted, “so, investors have to be prepared for the relatively high level of volatility that accompanies the entire sector.”

Shell is expected to report first-quarter adjusted earnings of $5.14 billion, according to an LSEG-compiled consensus, down from $7.73 billion in the same period a year ago. The energy major reported adjusted earnings $3.66 billion in the final three months of 2024.

Equity analysts have singled out Shell as the best capital allocator among its European peers, pointing toward the firm’s steadfast commitment to cost discipline under CEO Wael Sawan.

Volkswagen

Germany’s Volkswagen is one of many automotive firms expected to take a hit from tariffs — particularly those on Canada and Mexico — though results out April 30 should give a clearer indicaion of how much it expects to be able to shoulder through operations in Chattanooga, Tennessee.

The U.S. in April implemented a 25% charge on all foreign cars imported into the country, which appears to have already caused some panic-buying.

Volkswagen’s Chief Financial Officer Arno Antlitz told CNBC last month the company was in favor of open markets but already felt “like an American company” due to its thousands of U.S. employees.

However, analysts warn tariffs are especially negative for German carmakers which export thousands of vehicles a year to the U.S., while many cars produced in the country still require European-made parts.

Volkswagen is expected to produce higher year-on-year revenue in the first quarter, up to 77.6 billion euros ($88.2 billion) from 75.5 billion euros, an LSEG-compiled consensus shows. Earnings before interest and taxes (EBIT) are seen dipping to 4.03 billion euros from 4.6 billion euros.

Lufthansa

As geopolitical tensions mount, some have questioned whether travel demand will suffer or trends will change — and the results of German airline group Lufthansa, due April 29, could hold some clues.

Lufthansa CEO Carsten Spohr told CNBC in early March that he expected global demand to drive “significantly” higher profit in 2025 and had not seen any dent in transatlantic bookings. But a lot has changed since then, with the scale of Trump’s tariffs and rhetoric fueling public anger and even boycotts of U.S. products.

A Lufthansa Airlines plane taxiing for takeoff as an United Airlines plane lands at San Francisco International Airport (SFO) in San Francisco, California, United States on February 7, 2025. 

Anadolu | Anadolu | Getty Images

Figures for March published by the International Trade Administration showed a 17.2% year-on-year fall in visitor arrivals from Western Europe to the U.S., against a 3.4% dip from Asia and a 17.7% increase from the Middle East.

Lufthansa Group, which includes the German flag carrier along with SWISS, Austrian Airlines, Brussels Airlines and Italy’s ITA Airways, has already been grappling with challenges including strikes, global price pressures and Boeing aircraft delivery delays.

According to an LSEG-compiled consensus, analysts expect the group to report revenue of around 8.07 billion euros in the first quarter, up from 7.4 billion euros the previous year, and a roughly $630 million loss in EBIT, trimmed from a $871 million loss year-on-year and down from $482 million profit the prior quarter.

Novo Nordisk

Drugmakers have little idea how their access to the critical U.S. market will be impacted in the coming months.

The Trump administration said last week that it had opened an investigation into how importing certain pharmaceuticals affects national security, widely seen as a prelude to tariffs on drugs — also suggested to be happening in the coming months by Commerce Secretary Howard Lutnick.

There remains no clarity over what size the tariffs will be, and when or even if they will come into effect.

For Denmark’s Novo Nordisk, Europe’s second-largest listed company, that leaves exposed the U.S. sales of its hugely popular obesity and diabetes treatments Ozempic and Wegovy. Traders will be hoping its May 7 results give an indication of how it is preparing for that, and how much can be offset by its “very significant” manufacturing set-up in the U.S.

Emily Field, head of European pharmaceuticals research at Barclays, told CNBC earlier this month that tariffs were the “No. 1 question on investors’ minds.”

— CNBC’s Karen Gilchrist and Annika Kim Constantino contributed reporting.

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Tesla settles another wrongful death lawsuit that has big implications

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Tesla settles another wrongful death lawsuit that has big implications

Tesla has settled another wrongful death lawsuit, and it has significant implications based on Tesla’s legal strategy of not settling unless it is at fault.

Admitting a mistake is difficult. We humans are not good at it, which is why I respected Elon Musk when he said that Tesla wouldn’t seek victory in “just” legal cases against it and would “never settle an unjust case” against the company:

We will never seek victory in a just case against us, even if we will probably win. – We will never surrender/settle an unjust case against us, even if we will probably lose..

This strategy also means that if Tesla ever settles a case, it is admitting that it was in the wrong, even if settlements often come with no admission of wrongdoing.

Tesla has very rarely settled cases and Musk made this comment back in 2022. A lot has changed since then.

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In fact, around the same time Musk made that comment, he announced that he was building a team of “hardcore lawyers” at Tesla to pursue legal cases aggressively.

But it started to happen over the last few years.

In the UK, a Tesla owner challenged Tesla over its failure to deliver on its full self-driving claims and won a settlement that represented a refund of his purchase cost for FSD, with interest, after filing a claim in small claims court in 2023.

Last year, Tesla also finally settled a wrongful death lawsuit regarding the death of Model X owner Walter Huang, who was one of the first Tesla owners to die while using Autopilot back in 2018.

Now, Tesla has settled a second wrongful death lawsuit.

The estate of Clyde Leach, a Tesla Model Y owner, sued Tesla for wrongful death after his Model Y “suddenly accelerated, went off the road, and slammed into a pillar at an Ohio gas station.” Leach, 72, died from “blunt force trauma, burns, and other injuries” after the vehicle burned down following the impact.

Unlike Huang’s case, the lawsuit didn’t focus specifically on Tesla’s Autopilot or other ADAS features, but it claimed that a defect led to a “sudden acceleration” that contributed to the crash.

There have been numerous allegations of “sudden unintended acceleration” against Tesla vehicles, but in most cases, the evidence has pointed to the driver mistakenly pressing the wrong pedal.

This makes it particularly interesting that Tesla, which claims never to settle unjust claims against the company, has confirmed that it settled the case with Leach’s estate in a filing on Monday in federal court in San Francisco.

The terms of the settlement have not been released.

Electrek’s Take

In Tesla’s early days, there were numerous claims of “sudden unintended acceleration” regarding Tesla vehicles. I would often look into them, and we even had third parties review the telemetric logs; you could almost always prove pedal misplacement.

I assumed some of it also had to do with people not being used to vehicles that accelerate as quickly as Teslas, leading to less forgiving situations when pressing the wrong pedal.

However, considering Tesla settled this case and Musk’s claim that Tesla would not settle an “unjust” claim, there could be a case that sudden acceleration could occur with Tesla vehicles.

This could complicate a lot of other cases against Tesla.

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GM doubles down on Mexico, “no plans” to move EV production to US

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GM doubles down on Mexico,

Despite the will-they, won’t-they uncertainty surrounding the future of tariffs and union jobs and – let’s face it – just about everything else in every industry these days, GM says it has no plans to move production of its Ultium-based EVs from Mexico to the US.

GM has exclusively produced electric cars at its plant in Ramos Arizpe, Mexico since last year, and has created some 5,000 new jobs in the area according to economist Raquel Buenrostro, who currently serves as Mexico’s Secretary of Anti-Corruption and Good Government. And those cars – including the popular Chevy Equinox EV and Honda’s hot-selling Prologue – have been huge hits in their respective segments.

The General seems to know a good thing when it sees one, so it should come as no surprise to learn that GM has no plans to scuttle its assembly lines out of the country.

“At this time, GM has no plans to halt or relocate production of any of our EV models made in Mexico,” the director of GM de México’s EV operations, Adrián Enciso, told the Spanish-language newspaper, Milenio. “It’s possible that additional models, such as (the new 2026 Chevy Spark) could be built here, too.”

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Market Watch is reporting that the proposed tariffs, if they take effect, could raise GM’s cost to make electric cars in Mexico by up to $4,300 per vehicle. But while that could put a significant per-unit dent in GM’s profits, it’s worth noting that the EVs might continue to be built in Mexico and sold in Canada and other markets – the new Spark, especially, is targeted towards Central and South America, anyway.

And, frankly, GM can afford it.

SOURCE: Mexico News Daily.


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