š Devens, Massachusetts ā Commonwealth Fusion Systems (CFS) has secured $863 million in an oversubscribed Series B2 funding round, marking the largest capital raise in deep tech and energy since its $1.8 billion Series B in 2021. The financing brings CFSās total fundraising to nearly $3 billionārepresenting roughly one-third of all private fusion investment globally.
The funds will support the completion of SPARC, CFSās fusion demonstration machine in Massachusetts, and accelerate development of ARC, its first grid-scale fusion power plant planned for Virginia. ARC is expected to begin delivering carbon-free electricity to the grid in the early 2030s.
The round attracted a diverse group of investors, including Counterpoint Global (Morgan Stanley), Google, NVIDIAās NVentures, Stanley Druckenmiller, and a consortium of 12 Japanese firms led by Mitsui & Co. and Mitsubishi Corporation. Returning investors such as Breakthrough Energy Ventures, Khosla Ventures, Emerson Collective, and Eric Schmidt also increased their commitments.
CEO and Co-founder Bob Mumgaard emphasized the significance of the raise: āThis funding recognizes CFSās leadership in developing a reliable source of clean, nearly limitless energyāand enables investors to participate in the birth of a new global industry.ā
CFSās SPARC reactor aims to demonstrate net energy gain by 2027, a critical milestone toward commercial viability. If successful, ARC could become the worldās first fusion power plant connected to the grid, offering a scalable solution to meet rising energy demands driven by AI, electrification, and climate goals.
Source: esgnews.com
CFS Hq Picture from CFS Linkedin
