Commonwealth Fusion Systems has secured nearly $2bn in funding from investors that include Tiger Global Management and Bill Gates, as the US nuclear energy group looks to develop the promising but extremely complex technology.
Tiger led the $1.8bn Series B funding round backed by about 30 investors. It marked the largest private investment to date in nuclear fusion, which CFS wants to commercialise and bring to the grid by the early 2030s.
“The world is ready to make big investments in commercial fusion as a key part of the global energy transition,” said CFS chief executive Bob Mumgaard.
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