Commonwealth Fusion Systems (CFS), widely regarded as the world’s leading private fusion energy company, revealed that it has secured $863 million in a Series B2 fundraising round, taking a significant step toward commercializing fusion energy and reshaping the global power landscape.
Industry insiders noted that this round represents one of the largest capital raises in the deep tech and energy sector since the company’s record-setting $1.8 billion Series B round in 2021. With this, CFS has amassed nearly $3 billion in total funding, accounting for roughly one-third of all private investments in fusion energy worldwide, firmly establishing itself as a frontrunner in the industry.
Driving the Future of Clean Energy
According to CFS executives, the fresh infusion of funds will primarily support the completion of SPARC, the company’s groundbreaking fusion demonstration machine in Devens, Massachusetts. Additionally, the investment will accelerate development of ARC, CFS’s first grid-scale fusion power plant, planned for Chesterfield County, Virginia.
CFS CEO and Co-founder Bob Mumgaard stated that investors appeared confident in the company’s steady progress and ability to deliver on its goals. He noted that the latest funding highlighted CFS’s pioneering role in developing a sustainable, clean, and near-limitless energy source, while simultaneously offering investors a chance to be part of the rapidly evolving global energy landscape.
Expanding Global Influence and Investor Network
In this round, CFS strategically broadened its international footprint, attracting investors from diverse sectors — from technology and finance to industrial energy and venture capital. Industry reports highlighted that CFS has successfully built relationships across the financial ecosystem, working with venture capital firms, sovereign wealth funds, hedge funds, pension funds, industrial leaders, and banks.
Notable New Investors Include:
- Brevan Howard
- Counterpoint Global (Morgan Stanley)
- Stanley Druckenmiller
- Galaxy Interactive (Galaxy Digital Inc.)
- NVentures (NVIDIA’s venture capital arm)
- Neva SGR (Intesa Sanpaolo Bank)
- Gigascale Capital
- Planet First Partners
- FFA Private Bank (Dubai) Ltd.
- Woori Venture Partners US
Additionally, a consortium of 12 Japanese companies, led by Mitsui & Co., Ltd. and Mitsubishi Corporation, participated in this round. The consortium included entities like NTT Inc., Fujikura Ltd., JERA Co., Inc., Sumitomo Mitsui Banking Corporation, and The Kansai Electric Power Co.
Continuing Support from Existing Backers
Several longstanding investors increased their stakes, including Google, Breakthrough Energy Ventures, Tiger Global, Hostplus Superannuation Fund, Lowercarbon Capital, and former Google CEO Eric Schmidt, further reflecting confidence in CFS’s vision and execution.
Industry experts pointed out that Google’s participation was particularly significant since it had also entered into a strategic partnership with CFS to purchase half the power generated by the upcoming ARC plant.
SPARC and ARC: Pioneering a New Energy Era
The funds are expected to accelerate two cornerstone projects:
- SPARC: An advanced fusion demonstration system based in Massachusetts, engineered to achieve net energy gain — a landmark achievement that brings the world a step closer to realizing practical and commercially viable fusion power.
- ARC: The company’s first grid-scale fusion power plant, which aims to deliver commercial fusion energy to the grid by the early 2030s.
CFS confirmed that its high-temperature superconducting magnet technology has been instrumental in achieving breakthroughs necessary for compact and efficient fusion reactors.
Investor Perspectives: Building a Carbon-Free Future
Industry leaders and investors expressed strong optimism regarding CFS’s role in transforming the global energy ecosystem:
- Dennis Lynch, representing Morgan Stanley’s Counterpoint Global, highlighted that CFS combined innovative leadership, groundbreaking scientific achievements, and flawless execution, positioning it as a key partner in driving the transition toward a clean and sustainable energy future.
- Vinod Khosla (Khosla Ventures) described CFS’s ARC power plants as a step toward limitless energy that could fuel the AI-driven technological transformation.
- According to Laurene Powell Jobs (Emerson Collective), fusion energy could usher in a new era of plentiful, clean, and widely available power, signaling a turning point in human development.
- Frédéric de Mévius (Planet First Partners) remarked that CFS’s progress toward net energy gain was a transformational milestone that could significantly influence climate solutions.
- Clara Andreoletti (Eni Next) added that CFS represented a game-changing opportunity in achieving global energy transition goals, underscoring Eni’s continued technological and operational support.
About Commonwealth Fusion Systems
Founded in 2018, Commonwealth Fusion Systems has emerged as the largest private fusion energy company in the world. Its flagship project, SPARC, is designed to demonstrate net energy gain, paving the way for ARC — a scalable commercial fusion power plant.
With over $3 billion in funding secured to date, CFS is positioned to lead the transition toward limitless, carbon-free, and globally sustainable energy solutions.
Final Thoughts
Experts believe that fusion energy could redefine the world’s approach to clean power. With this latest funding round, CFS has positioned itself at the forefront of the next energy revolution, merging scientific innovation with practical execution to bring abundant, sustainable power to the global grid.
