Commonwealth Fusion Systems

Commonwealth Fusion Systems

Develops and commercializes fusion energy systems

About Commonwealth Fusion Systems

Simplify's Rating
Why Commonwealth Fusion Systems is rated
A+
Rated A+ on Competitive Edge
Rated A on Growth Potential
Rated A+ on Rating Differentiation

Industries

Energy

Company Size

501-1,000

Company Stage

Grant

Total Funding

$2B

Headquarters

Harvard, Massachusetts

Founded

2018

Overview

Commonwealth Fusion Systems focuses on developing fusion energy as a clean and sustainable power source. The company utilizes advanced magnet technology, created in partnership with MIT, to build smaller and more affordable fusion systems called tokamaks. These devices use magnetic fields to confine plasma, making them an efficient method for achieving fusion. Currently, CFS is manufacturing high-temperature superconducting magnets and constructing SPARC, which aims to be the first commercially viable net energy fusion machine. The success of SPARC will lead to the development of ARC, the first fusion power plant. CFS differentiates itself from competitors by its commitment to scientific integrity and a mission-driven approach, aiming to provide cost-competitive fusion energy to help combat climate change.

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Funded Recently
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Simplify's Take

What believers are saying

  • CFS plans to build the world's first commercial fusion power plant in Virginia.
  • Increased investment in fusion energy startups indicates strong investor interest.
  • Government net-zero targets align with CFS's clean energy mission.

What critics are saying

  • Competition from companies like TAE Technologies could impact CFS's market position.
  • Reliance on rare-earth materials poses supply chain risks.
  • Public perception of nuclear fusion technology remains uncertain.

What makes Commonwealth Fusion Systems unique

  • CFS uses rare-earth barium copper oxide superconductor technology for energy development.
  • CFS collaborates with MIT for advanced fusion research and magnet technology.
  • CFS is building SPARC, the first commercially-relevant net energy fusion machine.

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Funding

Total Funding

$1958.7M

Above

Industry Average

Funded Over

5 Rounds

Grant funding comparison data is currently unavailable. We're working to provide this information soon!
Grant Funding Comparison
Coming Soon

Benefits

12.5 Company-wide Holidays

Our vacation policy is 'take vacation'

Our sick time policy is 'get better and try not to make others sick'

Generous parental leave policy

Health Reimbursement

Health, Dependent Care, & Limited Purpose Flexible Spending Accounts

Delta Dental, Blue 20/20 Vision optional

Wellbeing / Headspace coverage

Short-term & long-term disability

Life and AD&D insurance

401K

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

0%
HR Today
Dec 28th, 2024
John Kruep Joins Commonwealth Fusion Systems as Senior Director, People Operations

Cambridge, Massachusetts, United States, December 2024 - John Kruep has been appointed as Senior Director, People Operations at Commonwealth Fusion Systems (CFS).

Securities.io
Dec 27th, 2024
First Commercial Nuclear Fusion Project Announced

Fusion, The Ultimate Energy SourceAs stable, reliable, cheap, and carbon-neutral energy supplies become an increasingly pressing issue, all eyes have been on nuclear solutions.This includes nuclear fission, or the splitting of heavy atoms like uranium, thorium, or plutonium. This technology is making a dramatic comeback on the back of the phasing out of coal and gas power plants, despite the need for baseload power generation, as well as the trends of electrification of transportation, heating, and industrial production.It is, however, not without problems, even for the more advanced 4th generation of nuclear power plants. Most notably, it still involves the handling of highly radioactive materials, something the public is still wary of and never going to be fully environmentally neutral.This is why scientists have been looking at the promises of nuclear fusion, which merge together atoms like hydrogen, the same phenomenon powering the Sun.This would use a fuel that is the most abundant element in the Universe and produce only harmless helium or lithium. It would also be powerful enough to make available essentially infinite energy, with zero risk of explosion or runaway chain reaction.The problem is that producing the required conditions is so hard to achieve that no fusion reactor has ever come close to commercialization so far.This might change in less than a decade, at least according to Commonwealth Fusion Systems (CFS). The company has just announced that it is moving toward building the first commercial fusion reactor in Virginia .CFS Reactor ProjectCommonwealth Fusion Systems is aiming for its ARC reactor to generate 400 MW for the Virginian power grid, which is enough to power 150,000 homes.This is a radical advancement for the field of nuclear fusion, as it always seemed that the first scale-up reactor was 20-30 years away. Even the massive international endeavor that is ITER (International Thermonuclear Experimental Reactor) is not expected to be finished before 2039.In comparison, the CFS reactor is planned to be built on a site owned by the energy company Dominion (D +0.2%)

Energy Reporters
Dec 23rd, 2024
World's First Grid-Scale Nuclear Fusion Plant to Be Built in Virginia

CFS plans to invest billions into constructing the plant near Richmond, which is expected to generate 400 megawatts of electricity-enough to power around 150,000 homes.

Investing Book Deals
Dec 20th, 2024
Virginia Will Be Home To The World's First Nuclear Fusion Power Plant

Commonwealth Fusion Systems (CFS), founded in 2018 in Cambridge, Mass., plans to build a fusion power plant in Chesterfield County's James River Industrial Park.

Latest Nigerian News
Dec 19th, 2024
World's First' Grid-Scale Nuclear Fusion Power Plant Announced In the US

CFS, one of the largest and most-hyped nuclear fusion companies, will make a multibillion-dollar investment into building the facility near Richmond.

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