Annual Report and Accounts 2025/26 published

UKAEA has published its Annual Report and Accounts 2025/26, highlighting progress across the organisation in developing fusion energy.
16 July 2026

Today’s publication of UKAEA’s Annual Report and Accounts 2025/26 marks another year of significant progress for UKAEA Group as it continues to advance the development of sustainable fusion energy while delivering benefits for the UK economy, industry and skills base.

The report provides an overview of UKAEA’s performance over the past financial year, highlighting the progress made across fusion science, engineering, major programmes, people, partnerships and economic impact.

A major milestone during the year was the securing of a record £2.6 billion Government investment in fusion, providing a strong foundation for the UK’s fusion ambitions over the next five years. This investment enables UK Fusion Energy to progress the STEP programme and UKAEA’s National Fusion Laboratory to complete the development of globally unique fusion research and development facilities and maintain the UK’s position as a global leader in fusion research and technology development.

Highlights from 2025/26

Advancing fusion science and technology

Progressing future fusion energy

  • Significant progress on STEP, the UK’s prototype fusion energy plant, with continued development of the plant’s design and delivery model.
  • Acquisition of the West Burton site, future home of STEP.

Investing in people, skills and partnerships

  • New ventures, including MuWave and TAE Beam UK, were established, while 14 new licences were agreed, demonstrating continued growth in the innovation portfolio and creating new pathways for fusion-related technologies to reach wider markets.
  • Investment in talent development through the FOSTER programme; support for PhD researchers, apprentices and graduates, alongside a broad range of outreach activities, is helping to build the skills pipeline needed to sustain the UK’s long-term fusion ambitions.

Delivering impact for the UK

  • Supporting jobs, skills and economic growth.
  • Developing UK supply chains and industrial capability.
  • Building world-leading facilities, infrastructure and partnerships.
Read the Annual Report and Accounts 2025/26