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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.
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 ...
Photo by J.T. O'DonnellPeter LeSaffre, CEO of Fusion WorldWide You've met these people before - they're highly successful (i.e. run their own companies, or have six-figure careers), and naturally ...
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 ]
In 2006, Basile became the Chairman of the Board at Fusion-io and became CEO two years later, [6] where he convinced Apple co-founder Steve Wozniak to come on as chief scientist. [7] In his first year as CEO, the company achieved over $10M in sales and earned a Red Herring Global 100 award. [ 8 ]
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 ...
Commonwealth Fusion Systems in 2021 tested successfully a 20 T magnet making it the strongest high-temperature superconducting magnet in the world. Following the 20 T magnet CFS raised $1.8 billion from private investors. General Fusion began developing a 70% scale demo system. [69] In 2018, TAE Technologies' reactor reached nearly 20 M°C. [126]