Massachusetts startup CFS has raised $863 million in a funding round led by tech giants and venture funds, including Google, Nvidia, and Breakthrough Energy Ventures. The company has now raised nearly $3 billion, making it the highest-funded fusion startup globally.
CEO Bob Mumgaard explained, “This round isn’t just about advancing fusion science; it’s about turning it into a commercially viable industry.” CFS is currently developing Sparc, a prototype tokamak reactor set to start operations next year. Sparc aims to achieve scientific breakeven in 2027, producing more energy than is required to ignite the plasma.
Although Sparc will not provide electricity to the grid, it is vital for validating technology, cost structures, and operational processes. If successful, construction of Arc, the company’s commercial-scale fusion plant in Virginia, will begin in 2027–2028. The wide range of investors also positions CFS to develop supply chains and partnerships necessary for industrial-scale fusion energy.
