New Mexico Wealth Fund Invests $1 Billion in Pacific Fusion to Develop Nuclear Fusion Research Center
The New Mexico State Investment Council is investing $1 billion in Pacific Fusion to establish a nuclear fusion research center in Albuquerque. This initiative aims to create a new energy source using fusion technology. The project is part of a broader strategy to enhance local economic development through investments in advanced technology and defense sectors. The wealth fund has committed substantial resources to venture capital, seeking to revitalize returns while supporting local businesses.
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The New Mexico State Investment Council is investing $1 billion in Pacific Fusion to create a nuclear fusion research center in Albuquerque. This project seeks to unlock a new energy source through fusion technology, which remains untested commercially.
The council aims to stimulate local economic development by focusing investments on advanced tech and defense sectors. In the last three years, it has allocated $1.8 billion to venture funds, with a significant portion directed towards in-state businesses.
The wealth fund expects substantial returns, as it underpins over 20% of New Mexico's budget, supporting key public services. The initiative reflects a shift in strategy after past investments failed to yield satisfactory results.
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