Mitsubishi Corp. and others invest in Commonwealth Fusion Systems

Mitsubishi Corp. and others invest in Commonwealth Fusion Systems

Commonwealth Fusion Systems (CFS) has secured $863 million in Series B2 funding, the largest amount raised among deep tech and energy companies since 2021. This round, which was oversubscribed, brings the total capital raised by CFS to nearly $3 billion, representing about one-third of the total capital invested in private fusion companies worldwide [1].

The funding round saw the addition of international investors from diverse sectors, including Mitsubishi Corp. and a consortium of 12 Japanese companies led by MITSUI & CO., Ltd. and Mitsubishi Corp. Other notable investors include Brevan Howard Macro Venture Fund, Counterpoint Global (Morgan Stanley), Stanley Druckenmiller, and FFA Private Bank (Dubai) Ltd. [1].

The funds will be used to complete the SPARC fusion demonstration machine and advance development work on the company's first ARC power plant in Virginia. CFS aims to commercialize fusion power, which promises to be a reliable source of clean, almost limitless energy [1].

CFS's leadership in the fusion industry is recognized by investors who see the company's potential to deliver on its objectives. The company's execution velocity and key advances in high-temperature superconducting magnets have been highlighted by investors [1].

The oversubscribed round validates CFS's position as the leading private fusion company, with a clear path to commercial fusion power in the coming years. The company's strategic partnerships with Dominion Energy and Google further support its plans to put power on the grid in the early 2030s [1].

References:
[1] https://cfs.energy/news-and-media/commonwealth-fusion-systems-raises-863-million-series-b2-round-to-accelerate-the-commercialization-of-fusion-energy/