Guangfa Securities: Magnet system has a high proportion of value in controlled nuclear fusion, domestic start-ups are accelerating catching up

Guangfa Securities released a research report stating that the Magneto-Inertial Fusion with Mixed Impedance (MIF) is a fusion route with commercial potential. Compared to traditional deuterium-tritium reaction schemes, the deuterium-helium-3 reaction has higher energy release efficiency and can achieve neutron-free reactions, potentially addressing the industrialization challenges faced by current tokamak devices. The magnet system is a crucial part of controllable nuclear fusion, with a high value proportion. Overall, Helion's industrialization pace is relatively advanced, being one of the fastest companies in the world to commercialize fusion technology. However, domestic startups are also entering the field, entering a phase of accelerated catch-up.