Global Fusion Energy Trends---Report from the F4E Fusion ObservatoryFunding • Performance • Research • InnovationA comparative Analysis of China, EU, Japan, UK, and the USA 2 Foreword Fusion — an energy for the future Fusion is the process that powers the Sun and other stars. Reproducing it on Earth has the potential to provide safe, clean, and virtually limitless energy. The fuels required are widely available, with very small quantities capable of releasing large amounts of energy. Fusion produces no greenhouse gases or long-lived radioactive waste, and it is inherently safe. As a steady power supply, fusion can complement renewables and strengthen Europe's long-term energy security and autonomy. Fusion for Energy Fusion for Energy (F4E) is the European Union's organisation for the development of fusion energy. It is responsible for Europe's contribution to ITER — the largest international fusion experiment, amounting to nearly half of the project. In parallel, F4E is contributing to major fusion projects such as the JT-60SA tokamak as well as the IFMIF-EVEDA and IFMIF-DONES materials testing facilities. The knowledge and expertise acquired will feed into the construction of future fusion power plants. Europe's investment in fusion generates business opportunities. F4E works with an impressive supply chain connecting large companies, SMEs and laboratories to manufacture complex components, deliver advanced technologies and provide infrastructure. Since 2007, F4E has signed more than 1400 contracts with over 2700 European companies and laboratories, injecting over €7 billion in the fusion supply chain. The skills, technology transfers, and business opportunities are paving the way for a European fusion in...