31 Aug , 18:14
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American company Commonwealth Fusion Systems has raised a record $863 million for the development of fusion energy. Among the investors were Bill Gates' Breakthrough Energy Ventures fund, as well as technology giants Google and Nvidia. This information was published by TechCrunch.
With the new funding, total investments in CFS have reached an impressive mark of almost $3 billion, strengthening the company's position as a leader in the promising field of fusion energy. It's worth noting that in 2021, the startup already set an impressive record, receiving $1.8 billion in investments.
Currently, CFS is actively constructing a Sparc reactor prototype in the vicinity of Boston. The launch of this ambitious project is scheduled for the end of next year. By 2027, the company's engineers expect to achieve a key indicator - energy breakeven, when the fusion reaction begins to produce more energy than is spent on initiating it. Although Sparc will not be used for commercial electricity generation, its successful operation will be a decisive step toward the next phase of technology development.
Provided that Sparc tests are successful, the company intends to begin construction of the Arc industrial power plant in Virginia as early as 2027-2028. CFS has already concluded a strategic agreement with Google to supply 200 MW of electricity, which will be generated by the future Arc station.
CFS co-founder and CEO Bob Mumgaard stated that the current funding is sufficient to complete the Sparc project. However, the implementation of the larger Arc project will require additional investments of several billion dollars.
Both facilities under development, Sparc and Arc, are tokamak-type fusion reactors, in which a powerful magnetic field is used to contain high-temperature plasma.
