Commonwealth Fusion Systems (CFS) has secured $863 million in funding, including investment from Nvidia, to advance its fusion power technology. This Series B2 round, the largest for deep tech and energy firms since 2021, will support the completion of SPARC, a fusion demonstration machine, and the development of the first ARC power plant in Virginia.
CFS aims to be the first to commercialise fusion power, with SPARC expected to achieve net energy generation. The ARC power plant, slated for the early 2030s, is projected to generate 400 megawatts of clean electricity, enough to power approximately 150,000 homes. Google has already signed an agreement to purchase 200 megawatts from the ARC project. The company has raised nearly $3 billion since its inception in 2018, representing about one-third of total global investment in private fusion ventures.
New investors include Brevan Howard Macro Venture Fund, Counterpoint Global (Morgan Stanley), and a consortium of Japanese companies. This funding round signifies growing investor confidence in fusion energy's potential to meet rising global power demands and combat climate change.
