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CFS was founded in 2018 as a spin-off from the MIT Plasma Science and Fusion Center. [4] After initial funding of $50 million in 2018 from the Italian multinational Eni, [2] CFS closed its series A round of venture capital funding in 2019 with a total of US$ 115 million in funding from Eni, [5] Bill Gates's Breakthrough Energy Ventures, Vinod Khosla's Khosla Ventures, and others.
Brad Maurice Kelley (born 1956) is an American businessman who is the 9th largest landowner in the U.S., [1] with an estimated net worth of US$2.2 billion in 2018. [2] He founded the Commonwealth Brands tobacco company in 1991 and sold the company in 2001 to Houchens Industries for US$1 billion. [3]
This is limited to the largest 50 companies, all of which have annual revenues exceeding US$130 billion. This list is incomplete, as not all companies disclose their information to the media or general public. [3] Information in the list relates to the most recent fiscal year (mostly FY 2023 or 2024).
Commonwealth Fusion Systems, a private company spun off from the Massachusetts Institute of Technology, plans what it calls the world's first grid-scale fusion power plant in Virginia, to generate ...
SPARC is designed to achieve this with margin in excess of breakeven and may be capable of achieving up to 140 MW of fusion power for 10 second bursts despite its relatively compact size. [ 2 ] [ 1 ] The project is scheduled to start operations in 2026, with the goal of demonstrating net power (Q > 1) in 2027. [ 4 ]
Governments are also increasing funding to help accelerate commercialization. The US government set aside a record $1.48 billion for fusion research in its 2024 budget alone.
If all goes to plan, Virginia will be the site of the world’s first grid-scale nuclear fusion power plant, able to harness this futuristic clean power and generate electricity from it by the ...
In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years. Note that a fiscal year is named for the calendar year in which it ends, so "2022-23" means two fiscal years: the one ending in calendar year 2022 and the one ending in calendar ...