Commonwealth Fusion Systems is a startup dedicated to designing and building commercial fusion systems with the goal of providing limitless, clean energy to the world. Collaborating with MIT, the company leverages decades of research combined with new groundbreaking high-temperature superconducting (HTS) magnet technology to offer the fastest, lowest-cost path to commercial fusion energy. The company's current focus is on constructing SPARC, the world's first commercially relevant, net energy fusion demonstration device, which is a stepping stone towards the creation of ARC, the first fusion power plant. This innovative approach, utilizing HTS magnets, enables the construction of compact fusion power plants at a faster pace and at a lower cost. Since its establishment in 2017, Commonwealth Fusion Systems has garnered notable attention and significant backing, including the latest $15.00M Grant investment from the US Department of Energy in June 06, 2024. The company operates in the ESG, Energy, Renewable Energy, and Clean Energy industries, with its headquarters based in the United States. Commonwealth Fusion Systems has a compelling vision to deploy fusion power plants as a solution to meet global decarbonization goals swiftly. The company's exceptional team, comprised of leaders in tough tech, fusion science, and manufacturing, has a track record of rapid execution. With the support of leading investors, Commonwealth Fusion Systems is uniquely positioned to deliver limitless, clean fusion power to combat climate change. For individuals interested in being part of this groundbreaking initiative, more information about career opportunities can be found at cfs.energy/careers.
Funding Stage | Amount | No. Investors | Investors | Date |
---|---|---|---|---|
Grant | $15.00M | 1 | US Department of Energy | 06 Jun 2024 |
Grant | Unknown | 1 | US Department of Energy | 31 May 2023 |
Series B | $1.80B | 10 | 01 Dec 2021 | |
Series A | $84.00M | 10 | Equinor | 26 May 2020 |
Series A | $115.00M | 10 | 27 Jun 2019 |