Commonwealth Fusion Systems Raises $863 Million Series B2 Round to Accelerate the Commercialization of Fusion Energy
Commonwealth Fusion Systems (CFS) has secured an $863 million Series B2 funding round, marking the largest capital raise among deep tech and energy companies since their own $1.8 billion Series B round in 2021. The company has now raised nearly $3 billion in total, representing one-third of all private fusion industry investments worldwide.
The oversubscribed round attracted diverse international investors, including Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY), and notable individual investors like Stanley Druckenmiller. The funds will support the completion of SPARC, their fusion demonstration machine, and advance development of ARC, their first commercial power plant in Virginia, targeted for early 2030s operation.
Strategic partnerships include Dominion Energy and Google, with Google committing to purchase half of the ARC plant's power output. A significant Japanese consortium of 12 companies led by Mitsui & Co. and Mitsubishi Corporation also joined the round.
Commonwealth Fusion Systems (CFS) ha raccolto un round di finanziamento Series B2 da 863 milioni di dollari, il più grande aumento di capitale tra le aziende deep tech ed energy dalla loro Series B da 1,8 miliardi nel 2021. La società ha così raggiunto quasi 3 miliardi di dollari raccolti in totale, pari a un terzo di tutti gli investimenti privati nel settore della fusione a livello globale.
Il round, andato oltre le aspettative, ha attratto investitori internazionali diversificati, tra cui Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY) e investitori individuali di rilievo come Stanley Druckenmiller. I fondi serviranno a completare SPARC, la macchina dimostrativa per la fusione, e a portare avanti lo sviluppo di ARC, il primo impianto commerciale previsto in Virginia con entrata in funzione nei primi anni 2030.
Tra le partnership strategiche figurano Dominion Energy e Google, con Google che si è impegnata ad acquistare metà della produzione elettrica di ARC. Al round ha partecipato anche un importante consorzio giapponese composto da 12 aziende guidate da Mitsui & Co. e Mitsubishi Corporation.
Commonwealth Fusion Systems (CFS) ha asegurado una ronda de financiación Series B2 de 863 millones de dólares, la mayor captación de capital entre empresas deep tech y energéticas desde su propia Series B de 1.800 millones en 2021. La compañía ha recaudado ya casi 3.000 millones de dólares en total, equivalente a un tercio de todas las inversiones privadas en la industria de la fusión en todo el mundo.
La ronda, sobresuscrita, atrajo a inversores internacionales diversos, incluidos Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY) y destacados inversores individuales como Stanley Druckenmiller. Los fondos financiarán la finalización de SPARC, su máquina demostradora de fusión, y el avance en el desarrollo de ARC, su primera planta comercial en Virginia, prevista para entrar en operación a principios de la década de 2030.
Las alianzas estratégicas incluyen a Dominion Energy y Google, con Google comprometiéndose a comprar la mitad de la producción eléctrica de la planta ARC. También se sumó a la ronda un importante consorcio japonés de 12 empresas liderado por Mitsui & Co. y Mitsubishi Corporation.
Commonwealth Fusion Systems (CFS)가 8억6300만 달러 규모의 시리즈 B2 투자 라운드를 마무리했습니다. 이는 2021년 자사의 18억 달러 시리즈 B 이후 딥테크 및 에너지 기업 중 최대 규모의 자금 조달입니다. 회사는 지금까지 총 약 30억 달러를 유치해 전 세계 민간 핵융합 투자 금액의 3분의 1을 차지합니다.
초과 모집된 이번 라운드에는 Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY) 등 다양한 국제 투자자와 스탠리 드럭켄밀러 같은 개인 투자자도 참여했습니다. 투자금은 핵융합 시연기인 SPARC 완성과 버지니아에 건설 중인 최초 상업용 발전소 ARC의 개발 가속화(2030년대 초 운전 목표)에 사용됩니다.
전략적 파트너로는 Dominion Energy와 Google이 있으며, Google은 ARC 발전소 전력의 절반을 구매하기로 약속했습니다. 또한 미쓰이상사(Mitsui & Co.)와 미쓰비시상사(Mitsubishi Corporation)가 주도하는 12개사 규모의 일본 컨소시엄도 참여했습니다.
Commonwealth Fusion Systems (CFS) a sécurisé une levée de fonds Series B2 de 863 millions de dollars, la plus importante mobilisation de capitaux parmi les entreprises deep tech et energy depuis leur Series B de 1,8 milliard en 2021. La société a désormais levé près de 3 milliards de dollars au total, soit un tiers de tous les investissements privés dans l'industrie de la fusion dans le monde.
La ronde, sursouscrite, a attiré des investisseurs internationaux variés, notamment Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY), ainsi que des investisseurs individuels de renom comme Stanley Druckenmiller. Les fonds serviront à achever SPARC, leur démonstrateur de fusion, et à faire avancer le développement de ARC, leur première centrale commerciale en Virginie, prévue pour entrer en service au début des années 2030.
Parmi les partenariats stratégiques figurent Dominion Energy et Google, Google s'engageant à acheter la moitié de la production électrique d'ARC. Un important consortium japonais de 12 entreprises mené par Mitsui & Co. et Mitsubishi Corporation a également rejoint la ronde.
Commonwealth Fusion Systems (CFS) hat eine Series B2-Finanzierungsrunde über 863 Millionen US-Dollar abgeschlossen – die größte Mittelaufbringung unter Deep-Tech- und Energieunternehmen seit ihrer eigenen Series B über 1,8 Milliarden im Jahr 2021. Insgesamt hat das Unternehmen nun fast 3 Milliarden US-Dollar eingesammelt, was ein Drittel aller privaten Investitionen in die Fusionsbranche weltweit entspricht.
Die überzeichnete Runde zog vielfältige internationale Investoren an, darunter Counterpoint Global (Morgan Stanley), Google, Galaxy Interactive (NASDAQ: GLXY) sowie namhafte Privatinvestoren wie Stanley Druckenmiller. Die Mittel sollen die Fertigstellung von SPARC, ihrer Fusions-Demonstrationsmaschine, unterstützen und die Entwicklung von ARC, ihres ersten kommerziellen Kraftwerks in Virginia mit geplantem Betriebsbeginn in den frühen 2030er-Jahren, vorantreiben.
Zu den strategischen Partnerschaften gehören Dominion Energy und Google, wobei Google zugesagt hat, die Hälfte der Stromproduktion von ARC zu kaufen. Außerdem beteiligte sich ein großer japanischer Konsortium aus 12 Unternehmen unter Führung von Mitsui & Co. und Mitsubishi Corporation an der Runde.
- Secured massive $863 million Series B2 funding, demonstrating strong investor confidence
- Total funding of nearly $3 billion represents one-third of all private fusion industry investments
- Strategic partnership with Google includes power purchase agreement for 50% of ARC plant output
- Expanded global investor base including major financial institutions and tech companies
- Construction of SPARC demonstration facility and ARC power plant progressing as planned
- Commercial fusion power generation not expected until early 2030s
- Significant capital requirements for continued development and commercialization
- Technology still needs to prove commercial viability at scale
Insights
CFS's massive $863M funding validates its leadership in fusion energy commercialization, positioning it ahead in the race to deliver fusion power to the grid.
Commonwealth Fusion Systems (CFS) has secured an $863 million Series B2 round, bringing their total funding to nearly $3 billion – representing approximately one-third of all capital invested in private fusion companies worldwide. This fundraising achievement underscores CFS's dominant position in the fusion energy race.
What makes this significant is the expanding diversity of investors. The company has attracted capital from traditional venture funds, sovereign wealth funds, pension funds, and notable corporations including Google and NVIDIA's venture arm. This broadening investor base signals growing confidence in fusion's commercial viability and CFS's technological approach specifically.
CFS employs high-temperature superconducting magnets in their tokamak design – a technological breakthrough that potentially enables smaller, more efficient fusion reactors. The funding will advance two critical projects: completing the SPARC demonstration machine (designed to achieve net energy gain) and developing their first commercial ARC power plant in Virginia, targeted for grid connection in the early 2030s.
The strategic partnership with Dominion Energy and Google's commitment to purchase half the power from their first plant represents a crucial commercial validation. While several private fusion companies are making progress, CFS appears to be executing with particular effectiveness on both technology development and business partnerships needed for commercialization.
If successful, fusion would represent a paradigm shift in energy – providing abundant, clean, always-available power without the limitations of current renewables or the waste/safety concerns of fission. This funding round positions CFS at the forefront of delivering this long-sought technology to market.
- This round of capital is the largest raised among deep tech and energy companies since CFS'
$1.8 billion - The almost
$3 billion - In recognition of the new category of energy technology that the company is creating, CFS expanded its global footprint by adding international investors from a widening range of sectors — from long-established fundamental investors, technology and industrial companies such as Counterpoint Global (Morgan Stanley) and Google, to hedge funds and leading individual investors such as Stanley Druckenmiller.
The oversubscribed round of capital is the largest amount raised among deep tech and energy companies since CFS'
"Investors recognize that CFS is making fusion power a reality. They see that we are executing and delivering on our objectives," said Bob Mumgaard, CEO and Co-founder. "This funding recognizes CFS' leadership role in developing a new technology that promises to be a reliable source of clean, almost limitless energy — and will enable investors to have the opportunity to capitalize on the birth of a new global industry."
In this round, CFS expanded its global footprint by adding international investors from a widening range of sectors — from long-established fundamental investors to industrial companies. In recognition of the new category of energy technology that the company is creating, CFS deepened and broadened its access across the financial ecosystem, with investors that span venture capitalists, private equity firms, sovereign wealth funds, leading individual investors, industrials, hedge funds, pension funds and banks.
New investors in CFS include (in alphabetical order): Brevan Howard Macro Venture Fund; Counterpoint Global (Morgan Stanley); Stanley Druckenmiller; FFA Private Bank (
A consortium of 12 Japanese companies led by Mitsui & Co., Ltd. and Mitsubishi Corporation also participated. The Japanese consortium included Development Bank of Japan Inc.; Fujikura Ltd.; JERA Co., Inc.; JGC Japan Corporation; Mitsui Fudosan Co., Ltd.; Mitsui O.S.K. Lines Ltd.; NTT, Inc.; Sumitomo Mitsui Banking Corporation; Sumitomo Mitsui Trust Bank Ltd.; and The Kansai Electric Power Co., Inc.
They join existing CFS investors who increased their stakes, including Breakthrough Energy Ventures; Emerson Collective; Eni; Future Ventures; Gates Frontier; Google; Hostplus Superannuation Fund; Khosla Ventures; Lowercarbon Capital; Safar Partners; Eric Schmidt, former CEO of Google; Starlight Ventures; Tiger Global; a large state pension fund and others who support CFS' leadership in this energy transition.
"CFS offers investors the clearest path to bringing commercial fusion to the world — and an unprecedented opportunity to make a real impact as global demand for power accelerates with electrification and increased use of AI and data centers," said Ally Yost, Senior Vice President of Corporate Development at CFS. "Along with the promise of energy independence and security, fusion power will help to expand energy access, and with it, improve quality of life."
The oversubscribed round validates that CFS is developing the most promising path to commercial fusion power in the coming years, as demonstrated by the company's key advances in high-temperature superconducting magnets and its execution velocity in the construction of SPARC in
In parallel, CFS is moving forward with plans to build the world's first grid-scale fusion power plant, called ARC, in
Perspectives from CFS investors:
"CFS is a rare fusion of visionary leadership, scientific breakthrough, and executional excellence – targeting one of the world's biggest markets. Counterpoint Global is excited to partner with CFS to help them achieve their mission to deliver affordable and abundant energy to power a sustainable future."
–Dennis Lynch, Head of Counterpoint Global (Morgan Stanley)
"At Khosla Ventures, we invest in bold and impactful projects, and CFS is one of the most impactful and ambitious projects I've seen in my career. Year after year, CFS has executed flawlessly. Their ARC power plants will soon deliver limitless energy to fuel the age of AI driving a new wave of societal transformation." —Vinod Khosla, Founder and Investor, Khosla Ventures
"Energy has always been the foundation of human progress, driving productivity, health, and prosperity. To meet the challenges of this century, we need energy that is abundant, clean, and accessible everywhere. That's what fusion offers. For the first time in history, we have a real opportunity to commercialize the long-held promise of fusion power, and Commonwealth Fusion Systems has just taken a decisive step toward making that promise a reality." –Laurene Powell Jobs, Founder and President, Emerson Collective
"CFS is pioneering one of the most credible and accelerated pathways to commercial fusion. Their breakthrough high-field magnet technology and pragmatic scaling strategy position them to deliver safe, reliable, and abundant clean energy, an outcome that could fundamentally reshape the global energy system." —Hisham Elhaddad, Managing Partner at HOF Capital
"Achieving commercial, affordable fusion power would be one of the most transformative milestones in human history—delivering clean, limitless energy to help strengthen energy security and improve global living standards. CFS is advancing fusion at a pace and scale that can turn this future into reality—providing a unique opportunity to shape the energy landscape, especially as AI and data centers are driving unprecedented demand." —Carmichael Roberts, Managing Partner, Breakthrough Energy Ventures
"We are excited to back Commonwealth Fusion Systems as they aim to transform decades of innovation in deep technologies into scalable, limitless power driving our future infrastructure. Their work exemplifies the kind of bold, world-changing ambition we are committed to supporting, and we are thrilled to partner in shaping the next era of global infrastructure." —Sam Englebardt, General Partner of Galaxy Interactive, a venture platform within Galaxy Digital Inc. (NASDAQ: GLXY)
"Few technologies in our investable universe have the potential to reshape the global energy system – and therefore the climate trajectory – as profoundly as fusion power. CFS has assembled a world-class team which is executing on a highly credible plan to deliver net energy gain with SPARC, a transformational milestone. Planet First Partners is beyond excited to join Bob and the CFS team on their mission to make commercial fusion power a reality." —Frédéric de Mévius, Executive Chairman and Managing Partner at Planet First Partners
"Every discovery that changes the world begins with those who have the courage to believe in it. CFS is working on the most advanced technology in the world, in a sector that will revolutionize our lives. As part of
"Eni has further strengthened its financial commitment to CFS, confirming our long-term involvement in the development of fusion energy. We consider this technology a game-changing breakthrough for achieving the energy transition goals. As a relative majority shareholder, Eni's support for CFS extends beyond financial capital. We continue to provide critical operational, technological, and project execution support by sharing methodologies applied in the energy industry." —Clara Andreoletti, CEO Eni Next
As one of Commonwealth Fusion Systems' earliest investors, we've had a front-row seat to witness their exceptional execution and the remarkable growth of what we believe is one of the most talented teams in the deep tech space. Their consistent ability to hit aggressive milestones while building breakthrough technology has reinforced our conviction that CFS is positioned to lead the clean energy revolution. We are confident in the senior management team's excellence, and their commitment to creating a better world for humanity. We're proud to continue supporting a company that combines world-class innovation with the operational discipline needed to bring fusion power to market as soon as possible." —Nader Motamedy, Managing Partner, Safar Partners
"Backing Commonwealth isn't about chasing hype, it's about supporting a team that is steadily advancing physics and engineering toward the most consequential breakthrough of our lifetime. This fundraise is one more step on that audacious path." —Maryanna Saenko, Co-founder, Future Ventures
"CFS is redefining what it takes to build a deep tech unicorn. With one of the most scientifically vetted approaches to fusion and a team built to execute, they're turning breakthrough science into a global industry."—Mike Schroepfer, Founder, Gigascale Capital
"At FFA Private Bank
"We've been proud to support Commonwealth Fusion Systems since 2019 and every round since. Perhaps no other technology better reflects our mission of backing unstoppable teams solving humanity's most critical challenges - and it's humbling to see them bring abundant, carbon-free fusion energy closer to reality with disciplined execution." —Matias Mosse, Founder of Starlight Ventures
About Commonwealth Fusion Systems
Commonwealth Fusion Systems is the world's largest and leading private fusion company. The company's marquee fusion project, SPARC, will generate net energy, paving the way for limitless carbon-free energy. The company has raised more than
Media contacts:
Commonwealth Fusion Systems
press@cfs.energy
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SOURCE Commonwealth Fusion Systems
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