Commonwealth Fusion Systems

Designing and building commercial fusion systems to provide limitless, clean energy to the world

General Information
Company Name
Commonwealth Fusion Systems
Founded Year
2018
Location (Offices)
Devens, United States +1
Founders / Decision Makers
Number of Employees
896
Industries
ESG, Energy, Renewable Energy +1
Funding Stage
Grant
Social Media

Commonwealth Fusion Systems - Company Profile

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.

Taxonomy: fusion energy, clean energy, high-temperature superconducting magnets, MIT collaboration, energy technology, decarbonization, climate change mitigation, tough tech, energy research, commercial fusion systems, global energy, private sector innovation, renewable energy integration, clean power

Funding Rounds & Investors of Commonwealth Fusion Systems (6)

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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

View All 6 Funding Rounds

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