Garden State Times

The Senate Environment and Energy Committee has given its approval to legislation, S-364, which was introduced by Senator Joe Pennacchio (R-26). This bill aims to permit fusion energy projects to access funding from New Jersey’s Clean Energy Fund.

Senator Pennacchio stated, “Fusion energy is no longer just a theory on a whiteboard—continued breakthroughs are happening at a rapid rate, taking immense strides toward becoming a reality. A zero-carbon, sustainable future is within reach, and this bill will help direct critical funds to the research and development of this revolutionary energy source. By classifying fusion energy as a Class I renewable and allowing investments to be made, New Jersey is positioning itself to be a global leader in fusion technology, helping restore America’s energy dominance once again.”

The classification of fusion energy as a Class I renewable will make it eligible for financial support from the Clean Energy Fund.

Senator Pennacchio has consistently advocated for the advancement of fusion energy. He has sponsored several legislative packages with the goal of making New Jersey a central hub for research and development in this field. In 2024, the Senate Economic Growth committee approved S-366, enabling fusion energy and technology companies to qualify for benefits under specific economic incentive programs.

For those interested in further details, the full text of the bill is available online.