Partnership to evaluate joint development of fusion power plant also includes direct investment and equipment, engineering, and technical support

MADISON, Wis., Sept. 2, 2026 /PRNewswire/ — Realta Fusion, the world’s leading magnetic mirror fusion energy company, today announced a strategic partnership with Madison Gas and Electric (MGE) and its parent company, MGE Energy, Inc., to explore joint development of a 200-megawatt electric (MWe) fusion energy power plant in Wisconsin.

MGE Energy made a direct equity investment in Realta in the first phase of the partnership. The utility company has also agreed to provide Realta with equipment, engineering, and technical support along with assistance for siting, permitting, interconnection, and financing of the anticipated 200-MWe plant.

“Our agreement with MGE to explore the opportunity to build out a fusion power plant is a clear signal that fusion’s time is coming,” said Realta CEO Kieran Furlong. “Fusion energy will be the ultimate source for zero-carbon electricity for humanity’s growing needs, and now we have a forward-thinking partner in MGE ready to help us make fusion real.”

A future fusion power plant in Wisconsin would represent a first-of-its-kind investment in next-generation carbon-free energy technology and help advance MGE’s goal of net-zero carbon electricity.

“At MGE, we’ve long believed that achieving a net-zero carbon future requires innovation, partnerships and a willingness to explore emerging technologies,” said MGE Chairman, President, and CEO Jeff Keebler. “Realta is developing a promising fusion technology right here in Madison, and this collaboration reflects our commitment to exploring emerging technologies that have the potential to deliver reliable, around-the-clock carbon-free energy for our customers and communities.”

The Realta Forge

The agreement deepens existing ties between Realta and MGE. Realta recently announced plans to lease approximately 250,000 square feet of office and industrial space for the company’s research and development facility, The Realta Forge. The facility is located at OM Station – the former site of Oscar Mayer’s plant and headquarters – in MGE’s service territory.

Working Toward Net-Zero Carbon Electricity

Reducing carbon emissions is a core priority for MGE. In 2019, MGE became one of the first utility companies in the United States to commit to net-zero carbon electricity by 2050. MGE’s ongoing investments in carbon-free energy generation are part of a broader strategy to ensure safe, reliable, affordable, and sustainable energy for the future.

About Realta Fusion
Realta Fusion is developing compact, scalable, modular – CoSMo fusion™ energy systems based on the magnetic mirror fusion concept. Realta is backed by leading venture capital investors Khosla Ventures and Future Ventures and is one of just eight companies selected for the U.S. Department of Energy’s flagship Milestone-Based Fusion Development Program. Realta was also selected as one of the World Economic Forum’s Technology Pioneers in 2026. Realta is based in Madison, Wisconsin, and operates the Wisconsin HTS Axisymmetric experimental fusion machine at the University of Wisconsin-Madison’s Physical Sciences Laboratory.

About Madison Gas and Electric

MGE generates and distributes electricity to 170,000 customers in Dane County, Wis., and purchases and distributes natural gas to 180,000 customers in seven south-central and western Wisconsin counties. MGE’s parent company is MGE Energy, Inc. The company’s roots in the Madison area date back more than 150 years.

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SOURCE Realta Fusion Inc