Google-backed nuclear fusion company Commonwealth Fusion Systems (CFS) has raised an additional $1 billion in equity financing, bringing its total raised to $4bn.
– Commonwealth Fusion Systems
The financing follows its $1.8bn Series B funding round completed in 2021 and an $863 million raise completed last year. According to CFS, the raise represents 30 percent of the total raised by all fusion companies.
“CFS is making what once was impossible into inevitable. In the 2030s, we will put commercial fusion on the grid. We have the science that works and the proven execution that’s consistently validated by the market. We regularly welcome investors from around the world to our headquarters in Devens, Massachusetts, where they see real and tangible progress as we ready support systems and finalize the assembly of SPARC,” said Bob Mumgaard, CEO and co-founder. “In unlocking commercial fusion energy, we’re on a path to make an impact at a civilizational level.”
According to CFS, it will use the funds to support the assembly of its SPARC fusion demonstration machine, towards the eventual development of a commercial fusion reactor.
