Participated · Series B · Aug 2025

Commonwealth Fusion Systems is developing SPARC, a fusion demonstration machine designed to generate net energy, and ARC, a planned grid-scale fusion power plant to be built at the Fall Line Fusion Power Station in Chesterfield County, Virginia. The company has raised $4 billion since its founding in 2018 and says the financing will accelerate commercialization and complete SPARC assembly. CFS has strategic partnerships with Dominion Energy and counts Google and Eni among its investors, with the latter two also signing power purchase agreements to buy more than half of ARC’s projected output. The company has submitted an application to PJM Interconnection and is targeting early-2030s grid delivery. CFS emphasizes its execution track record, peer-reviewed science, and the assembly progress of SPARC as evidence attracting institutional capital.