Nuclear startup Commonwealth Fusion Systems just secured $863M in fresh capital, bringing its total fundraising to nearly $3B as it works to commercialize fusion energy. (Boston Biz Journal)
Commonwealth will use the funds to finish its SPARC demonstration reactor in Devens, MA, and advance development of its first ARC power plant in Virginia, expected to supply power in the early 2030s.
The funding round drew new backing from Nvidia’s NVentures, Brevan Howard, and a 12-company Japanese consortium led by Mitsui and Mitsubishi.