Innovation is essential for realising our vision of improving the world through engineering.
Supporting and exploring the potential of new technologies is one way in which we demonstrate our value of innovation.
Nuclear fusion technology is the “Holy Grail” of clean energy, and interest in the technology is growing globally. Our Engineering Policy Unit recently assessed the current status and prospects of fusion energy in a report “Fusion Energy: A Global Effort – a UK Opportunity”.
We have also put our goal of supporting innovation into action by providing early-stage support to engineering companies through our Stephenson Fund.
One of the Stephenson Fund’s first investments was in Oxford-based Tokamak Energy, which is looking to develop fusion energy and has become one of the best-known commercial fusion developers globally.
The Fund, which has invested in 11 companies, aims to help firms overcome the investment hurdle between research and development and bringing a product to market. We are the only UK Professional Engineering Institution to have this type of fund to support innovation.