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4d ago

Commonwealth Fusion Systems Raises $863 Million From Google, Nvidia and Others for Fusion Demo

The oversubscribed round funds SPARC toward a 2027 breakeven test to build credibility before financing the first ARC plant.

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Commonwealth Fusion Systems gets $863M Nvidia funding

Overview

  • The Series B2 round totals $863 million with a broad syndicate and no single lead, including Google, Nvidia’s NVentures, Breakthrough Energy Ventures and a 12-company Japanese consortium led by Mitsui and Mitsubishi.
  • CFS has now raised nearly $3 billion, including a $1.8 billion round in 2021, making it the best-funded private fusion startup.
  • The SPARC device in Devens, Massachusetts, is about 65% complete, with turn-on expected next year and a target of scientific breakeven in 2027.
  • SPARC is a demonstration unit rather than a grid plant and is intended to de-risk ARC, a planned roughly 400 MW commercial facility in Virginia with a 200 MW offtake agreement from Google.
  • CEO Bob Mumgaard says the new capital advances SPARC but will not cover ARC’s build, which he estimates will cost several billions with the financing structure yet to be determined.