Madison, Wisconsin – September 7, 2026 -- Realta Fusion has entered a strategic partnership with Madison Gas and Electric (MGE) and its parent, MGE Energy, Inc., to explore joint development of a 200-megawatt electric fusion power plant in Wisconsin.
MGE Energy makes direct equity investment in Realta Fusion
MGE Energy has completed a direct equity investment in Realta as the first phase of the partnership. The utility has also committed to supplying equipment, engineering, and technical support, along with assistance on siting, permitting, interconnection, and financing for the proposed plant.
Wisconsin fusion plant would mark first-of-its-kind utility deal
A future 200-MWe fusion facility would be a first-of-its-kind investment in next-generation carbon-free power generation in the state. Realta CEO Kieran Furlong said the agreement is a signal that fusion's commercial time is approaching, framing the technology as a future source of zero-carbon electricity for growing global energy demand.
MGE ties net-zero 2050 goal to emerging fusion technology
MGE became one of the first U.S. utilities to commit to net-zero carbon electricity by 2050 when it made the pledge in 2019. MGE Chairman, President, and CEO Jeff Keebler said the collaboration reflects the utility's strategy of exploring emerging technologies capable of delivering reliable, around-the-clock carbon-free power for its customers.
Realta expands Madison footprint with 250,000-square-foot R&D facility
The partnership builds on existing ties between the two companies. Realta recently announced plans to lease approximately 250,000 square feet of office and industrial space at OM Station, the former site of Oscar Mayer's plant and headquarters, located within MGE's service territory, for its research and development facility known as The Realta Forge.
Realta operates DOE-backed fusion program and Wisconsin test machine
Realta is developing compact, scalable, modular fusion energy systems based on the magnetic mirror concept, backed by venture investors Khosla Ventures and Future Ventures. The company is one of eight selected for the U.S. Department of Energy's Milestone-Based Fusion Development Program and was named a World Economic Forum Technology Pioneer in 2026. Realta operates the Wisconsin HTS Axisymmetric experimental fusion machine at the University of Wisconsin-Madison's Physical Sciences Laboratory.
MGE serves 170,000 electric and 180,000 gas customers in Wisconsin
MGE generates and distributes electricity to 170,000 customers in Dane County, Wisconsin, and distributes natural gas to 180,000 customers across seven south-central and western Wisconsin counties.