ARPA-E-ALPHA announced today that they have awarded nine project teams for funding to build foundations for new pathways toward fusion power with Accelerating Low-cost Plasma Heating and Assembly (ALPHA) program. Magneto-Inertial Fusion Technology Inc. (MIFTI) was awarded $4,598,239 for the program “staged Z-pinch (SZP) for Fusion Energy”
Magneto-Inertial Fusion Technologies, Inc. (MIFTI), a high-tech energy and medical isotope company with headquarters in Tustin, CA has recently obtained an initial investment of $1.6M from the Silicon Valley investment firm, Strong Atomics Fund 1. In 2015, MIFTI was awarded $5.1M from the U.S. Department of Energy Advanced Research Projects Agency – Energy (DOE/ARPA-E).
Founded 2008 by former University of California, Irvine (UCI) scientist Dr. Hafiz Rahman and business executives, Gerald Simmons and Mohammad Arshad, MIFTI is pursuing three critical objectives in the area of nuclear physics: clean, safe, environmentally friendly energy; life-saving diagnostic/treatment products for nuclear medicine; and transmutation of nuclear waste products associated with fission power reactors (i.e. San Onofre, etc.). MIFTI’s technology for transmutation will convert highly unstable, long-lived radioactive material into stable, short-lived products, some of which can be utilized for clean power generation and medical isotopes used in nuclear medicine procedures.
The growing worldwide demand for both clean, reliable energy and radiopharmaceutical products is vital to the health and safety of the world’s population. However, the issue regarding transport and containment of nuclear waste has come to the forefront with the shutdown of the San Onofre Nuclear Power Station and other fission-powered energy plants. MIFTI’s patented technology has the potential to eradicate nuclear waste at San Onofre and elsewhere. MIFTI’s transmutation process can mitigate much of the danger associated with spent fuel rods, while saving millions of dollars in taxpayer money.
Though MIFTI has successfully acquired a measure of funding and the enthusiastic support of both the U.S. Government and private investors, our endeavor requires additional capital to progress to commercialization of this vital technology. We welcome serious inquires by those interested in supporting scientific solutions to mankind’s most critical problems. Please direct your inquiries to Gerald Simmons, Chairman/CEO – Email: email@example.com, Ph: (714) 329-3990. You may also write to us at our headquarters: 2600 Walnut Ave, Suite A, Tustin, CA 92780.