— Realta Fusion and Madison Gas and Electric will jointly explore developing a 200-megawatt electric fusion energy plant in the coming years through a new strategic partnership.
The Madison-based fusion technology company and MGE are announcing the project today, as well as a direct equity investment by the utility’s parent company, MGE Energy Inc., to kick off the effort’s first phase. The specific amount invested isn’t being disclosed.
To support the expected plant, the utility is also providing equipment, engineering and technical support, as well as help with the siting and permitting process, financing and more.
Kieran Furlong, CEO of Realta Fusion, says the agreement with MGE is a “clear signal” that fusion’s time is coming.
“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,” he said in a statement.
The company has previously said it aims to build a first-generation fusion energy plant in the mid-2030s, building on the work that will be done at its Realta Forge R&D facility in Madison.
Located at the site of the former Oscar Mayer plant within MGE’s service area, the recently announced facility will serve as a testing ground for a prototype version of its eventual fusion energy machines.
While Realta forges ahead with its research and development efforts, companies in other states are also developing their own competing fusion energy projects. That includes Commonwealth Fusion Systems — a supplier of superconducting magnets used in the Realta Forge — which is expected to be one of the first businesses to crack commercial fusion.
While MGE and Realta say the new agreement “deepens existing ties,” between the companies, a spokesperson declined to provide details on the ownership model for the planned fusion energy plant.
Meanwhile, MGE President, CEO and Chairman Jeff Keebler says exploring emerging technologies is necessary to achieve carbon reduction goals. The utility in 2019 committed to net-zero carbon electricity generation by 2050.
“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,” Keebler said.
See more in a recent story on the Realta Forge project.
— Forty state bankers associations have convened to create a blockchain network to facilitate services like stablecoin payments in one of the largest collaborations between state bankers to date.
The BankChain Alliance said in a recent announcement of its launch that it seeks to create an “industry-owned, industry-designed and industry-governed network” built on a shared blockchain platform with the aim of launching in 2027.
The group includes the Wisconsin Bankers Association.
Financial institutions of all sizes can opt into using the platform for banking services such as stablecoin payments, smart payment tools, tokenized deposits and automated settlements, knowing they meet the regulatory requirements.
Kimberly Askwith, the network’s interim CEO, told State Affairs the model will help banks enter the next phase of banking securely.
“BankChain Alliance is a practical way for banks across the country to lead payment innovation while preserving the security, trust and regulatory discipline customers expect,” said Askwith, the founder and CEO of TekFactor. “By building a bank-owned, bank-governed infrastructure, the Alliance will help banks deliver modern capabilities to customers safely and efficiently.”
Once launched, the network will be inoperable with other networks, importantly keeping deposits within the banking system in which the customer deposits them. It currently represents more than 3,400 banks worth $22.4 trillion in assets. Those numbers reflect the banks represented by the state associations; not all have individually committed to participating in the program, the BankChain Alliance noted.
“This is about banks of all sizes building their own future,” Kathy Kraninger, president and CEO of the Florida Bankers Association and interim chair of the BankChain Alliance, said in a statement announcing the launch.
— A recent study from Northwestern Mutual found Gen Z and millennials are less risk-averse than older generations when it comes to finances, investment and employment.
The Milwaukee-based financial services company yesterday released its 2026 Planning & Progress Study, drawing from a January survey of adults conducted by the Harris Poll on behalf of Northwestern Mutual.
When asked about their typical approach to new and emerging investment trends, 15% of Gen Z respondents and 12% of millennials described themselves as a “first mover,” signaling their willingness to jump on these trends. By comparison, just 5% of Gen X respondents and less than 1% of Baby Boomers and older described their approach that way.
Meanwhile, 37% of Gen Z and 36% of millennials said they prefer taking “calculated risks in pursuit of higher returns,” according to the company’s release. That’s compared to 29% for Gen X and 14% for Baby Boomers and older.
The survey also found 48% of Gen Z and 39% of millennials said they’d risk changing employers, switching fields or starting a business if they thought it offered a greater chance for success or happiness. By comparison, that percentage was 31% for Gen X respondents and 19% for Baby Boomers and older.
And when asked about how their financial risk tolerance has changed over the last 12 months, 42% of Gen Z and 39% of millennials said they’ve become more comfortable with risk, compared to 28% of Gen X and 15% of Baby Boomers and older.
The online survey, conducted Jan. 5-21, included 4,375 U.S. adults. Results were weighted by age, gender, race and ethnicity, region, education and household income.
See the release and full study.
— State Sen. Kelda Roys, D-Madison, was the only member of the Joint Finance Committee to vote against approving the sale of two downtown state office buildings to a private developer.
Roys told reporters after yesterday’s hearing the $12.65 million purchase price was inadequate considering the buildings had been appraised at between $45.45 million and $52.4 million. Roys also said she didn’t “love the idea of the state just permanently ceding control of those huge parcels of land. Land is valuable because they’re not making more of it.”
The state Building Commission had already signed off on the deal, and the Joint Finance Committee’s 13-1 vote in favor of the proposal was the last legislative approval needed for the sale to proceed.
No Joint Finance members spoke about the proposal ahead of passage.
The buildings, known as GEF 2 and 3, previously housed the departments of Natural Resources and Public Instruction. Those agencies have since been moved to an office building on Madison’s west side as part of the Evers’ administration’s Vision 2030 to downsize the state’s footprint.
In pitching the deal to lawmakers the Department of Administration said the $12.65 million purchase price reflected “current market conditions and provide valuable insight into the economic realities facing large-scale redevelopment projects in downtown Madison.”
The state received two bids for the buildings and picked the office from a subsidiary of Urban Land Interest. The company plans to renovate one of the buildings into 155 residential apartments while demolishing the other one and constructing parking infrastructure.
The state also faced more than $210 million in deferred maintenance costs if it wanted to bring the buildings back into use.
— UW-Madison researchers and doctors at UW Health are working on an AI-based method for helping clinicians learn how to intubate newborns.
UW Health yesterday released information about the “digital mentor” tool, which is still being developed and evaluated but could eventually be used to help train providers in the process of intubation. This procedure involves placing a tube in the patient’s windpipe to help them breathe and is used for various surgeries as well as for infants who are born prematurely.
Dr. Ryan McAdams, professor of pediatrics at the UW School of Medicine and Public Health, worked with neonatologist Dr. Patrick Peebles and other specialists to adapt two existing AI systems to analyze neonatal intubation videos.
In reviewing more than 100 videos of the procedure, the research team assessed “key airway anatomy” such as the gap between vocal cords. The effort aimed to produce technology to provide more objective feedback for clinicians during training, which McAdams compares to a backup camera on a car.
“It provides visual cues to improve situational awareness by circling and highlighting key areas, but the technology does not replace the person performing the task,” McAdams said in the hospital’s release. “Instead, it serves as a strong helper or a good coach for a learner. This feedback can be helpful for experienced clinicians as well.”
Ultimately, the team aims to integrate AI technology into every video laryngoscope, a tool that helps clinicians visualize the inside of the airway as they attempt intubation, according to Peebles.
“This AI model has the potential to help, especially serving medical teams in more rural or developing areas that don’t perform it often and thus may be less familiar with the procedure,” he said.
— The Medical College of Wisconsin announced Dr. Brett Kissela as the new dean of its School of Medicine, as well as executive vice president for health affairs.
Kissela is a neurologist and stroke epidemiologist who most recently worked as the executive vice dean of the University of Cincinnati College of Medicine, among other appointments there. He’s authored nearly 300 peer-reviewed articles and mentored more than 230 residents and fellows.
“The foundations of the Medical College of Wisconsin are strong, and our opportunity to lead is extraordinary,” Kissela said in a statement. “We have the potential to be the most trusted, community-connected, AI-enabled academic health system in America.”
For more of the most relevant health care news, reports on groundbreaking research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics and WisBusiness.com.
— The Greater Madison Chamber of Commerce is seeking responses to its annual Next Normal business survey, which has questions on workforce needs, AI, talent attraction and other topics.
Now in its third year, the survey aims to benchmark responses from 2024 and 2025 while identifying trends for participating companies. The deadline to provide responses is Sept. 22 at 5 p.m.
— The co-hosts of the “Talking Trade” podcast will interview Pacific Enterprise Capital International founder Michael Sacharski about U.S.-China relations during a live event later this month.
Sandi Siegel, CEO of M.E. Dey & Co., and Ken Wasylik, managing director of E.M. Wasylik Associates will discuss the latest developments in this relationship with Sacharski, an expert on China who’s spent decades living and working there.
“The State of U.S.-China Relations 2026-2028: Déjà vu All over Again?” will be held Sept. 16 at 11:45 a.m. at the Carlucci Rosemont in Illinois.
See event details and register.
Find the latest episodes of “Talking Trade” here.
TOP STORIES
Second high-voltage power line proposed to cut through Driftless area
Developer pitches 15-home subdivision spanning two Waukesha County towns
Merge says Green Bay officials delayed downtown Shipyard project
TOPICS
AGRIBUSINESS
– USDA reports strong crop progress in Wisconsin
– Tim Anderson Named DATCP Food Safety Administrator
BANKING
– Wisconsin community bank exits downtown Milwaukee after nearly a decade
CONSTRUCTION
– St. Francis residents demand say on new development near the lakefront
– Demolition begins at partially collapsed building in Walker’s Point
ENVIRONMENT
– Cost of Menasha’s emergency tornado cleanup rises to nearly $4 million
MEDIA
– In Ann Garvin’s new novel, ‘Midwest nice’ collides with a serial killer
REAL ESTATE
– Former church-school campus in Richfield could become condos
TECHNOLOGY
– MKE Tech Hub Coalition to lead Summerfest Tech planning as conference nears 10th anniversary
TRANSPORTATION
– G10 Fulfillment to open new Kenosha distribution facility next week
PRESS RELEASES
See these and other press releases
Fox Cities Chamber of Commerce: 2026 Fox Cities Future 15 Young Professionals unveiled
Dept. of Health Services: Update on measles outbreak in Southwest Wisconsin
Wisconsin Manufacturers & Commerce: And local chambers celebrate Chamber of Commerce Month
