Commonwealth Fusion Systems raises $863 million to get power on the grid faster

Commonwealth Fusion Systems (CFS) has raised $863 million in our Series B2 funding round. It’s the second largest investment of committed capital into a deep tech or clean tech company ever — and the largest was our $1.8 billion Series B round in 2021.

This Series B2 funding, from investors spanning the globe, speeds up our push to get fusion energy’s clean, secure, affordable power onto the grid as soon as possible. Here’s how we’ll use the funding.

First, it lets us complete SPARC, the one-of-a-kind fusion machine we’re building right now at our headquarters in Devens, Massachusetts to demonstrate net fusion energy. Second, this investment lets us accelerate work on our next machine, the ARC fusion power plant we plan to build in Chesterfield County, Virginia — the first of many.

With this funding round, we broadened our range of investors. Those supporting our fusion energy mission include not just earlier-stage investors like venture capitalists and ultrahigh-net-worth individuals, but also sovereign wealth funds, pension funds, private equity firms, global industrial companies, utilities, and banks.

New investors in CFS include Brevan Howard, Counterpoint Global of Morgan Stanley; Stanley Druckenmiller; FFA Private Bank in Dubai; Galaxy Digital’s Galaxy Interactive; Gigascale Capital; HOF Capital; Neva SGR; NVIDIA’s NVentures venture capital arm; Planet First Partners; Woori Venture Partners US, and a consortium of 12 Japanese companies led by Mitsui & Co. and Mitsubishi Corp. They join earlier investors like Breakthrough Energy Ventures; Emerson Collective; Eni; Future Ventures; Gates Frontier; Google; Hostplus Superannuation Fund; Khosla Ventures; Lowercarbon Capital; Safar Partners; former Google CEO Eric Schmidt; Starlight Ventures; and Tiger Global.

What unites that diverse group: they see an enormous new industry forming as we harness the power source of the sun here on Earth. And CFS is leading that fusion energy charge.

Follow the link below to read more from Ally Yost, Senior Vice President of Corporate Development, who digs into the details about how we're working in parallel on SPARC and ARC — and how we've used this approach several times in CFS history already.

#PowerMoves #fusionenergy

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Commonwealth Fusion Systems is the world’s leading and largest private fusion company. The company’s marquee fusion project, SPARC, will generate net energy, paving the way for limitless carbon-free energy through the world's first grid-relevant fusion energy power plant, ARC. The company has raised more than $2 billion in capital since it was founded in 2018.

Follow along as we push forward to delivering fusion energy to power the world’s energy transition. #FusionEnergy #Energy #Science

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