The financing of the project was led by Tiger Global Management, including Bill Gates, Coatue, DFJ Growth, Emerson Collective, Footprint Coalition and Google. The funds will be used to build, debug and operate SPARC, the world's first commercially-related net energy fusion machine. It is expected that by 2025, SPARC devices will show net energy from fusion.

In addition, the proceeds will be used to start the work of the commercial fusion power plant ARC. Work will include developing supporting technologies, advancing the design, identifying sites, and gathering partners and customers for the future of fusion energy. Bob Mumgaard, CEO of CFS, said: “As a key part of the global energy transition, the world is ready to invest heavily in commercial fusion.” This diverse group of investors includes everything from energy and technology companies to venture capitalists, hedge funds and With various capital endowments from universities, they believe that nuclear fusion is a large-scale solution to the decarbonization of the planet. "

According to decades of integration research conducted by the Massachusetts Institute of Technology, since its establishment in 2018, with the latest funding, the total capital of CFS has exceeded US$2 billion. TheEngine, Italy's Eni, Equinor Ventures, Future Ventures and Khosla Ventures have all pledged to commercialize fusion energy. Equinor Ventures (EV), the venture capital arm of Norwegian oil and gas company Equinor, made its first investment in CFS last year. Keywords: engineering construction, engineering news

The goal of CFS is to provide commercial fusion power to the grid by the early 2030s. In September 2021, the US-based start-up company revealed that the world's strongest high-temperature superconducting (HTS) fusion magnet has successfully passed the test. Carmichael Roberts of Breakthrough Energy Ventures said: "Economic fusion power generation will bring great benefits to the world, enabling us to avoid dangerous climate change, while allowing everyone to have a high standard of life. CFS is working hard to achieve this scale of integration, They have the technology that will provide us with the road to commercialization in the next ten years."Editor/XingWentao