Commonwealth Fusion Systems

Valuation $9B

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 may be growing as it operates within the fusion energy sector, which is receiving new investments from the Biden administration, indicating a supportive environment for the industry's expansion. Additionally, the company is part of a market that is projected to reach $491.55 billion by 2031, suggesting a significant opportunity for growth in the sector. Furthermore, being recognized as one of America's Best Startup Employers in 2024 implies that Commonwealth Fusion is not only attracting but possibly retaining top talent, which is often a key component of a company's growth trajectory.

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.
Funding Rounds 6
Number of Lead Investors 4
Total Funding Amount  $2.01 billion dollars
Number of Investors 40

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