About Commonwealth Fusion Systems
Commonwealth Fusion is an MIT spinoff research company that focuses on bringing fusion energy technology to the market.
Headquarters
Commonwealth Fusion Systems, Cambridge
Founded
2017-01-01
Industry
Clean Energy, Electrical Distribution, Energy, Environmental Engineering, Renewable Energy
Last Funding Type
Grant
Valuation
9
Total Funding
$2.01 billion dollars
IPO Status
Private
Financial
Commonwealth Fusion is advancing fusion energy technology through various innovations. They are developing thermal radiation shields for superconducting magnets, enhancing quench detection in high-temperature superconducting cables, and creating robust high-field superconducting magnets with modular components. Their research includes central solenoid retaining structures for tokamak reactors and tritium shunt heat exchangers for efficient energy extraction. These efforts focus on improving the performance and commercialization potential of fusion energy systems.
Commonwealth Fusion Systems (CFS) has signed a $15 million agreement with the U.S. Department of Energy to advance commercial fusion energy research. Additionally, CFS is shipping specialized magnets to the University of Wisconsin-Madison and has made progress on a key part of its first machine. Despite a decline in funding for fusion startups, CFS remains a significant player in the sector.
Commonwealth Fusion Systems (CFS) has signed a $15 million agreement with the U.S. Department of Energy to advance commercial fusion energy research. Additionally, CFS is shipping specialized magnets to the University of Wisconsin-Madison and has made progress on a key part of its first machine. Despite a decline in funding for fusion startups, CFS remains a significant player in the sector.
Funding Rounds
6
Number of Lead Investors
4
Total Funding Amount
$2.01 billion dollars
Number of Investors
40