A varied group of investors has provided Commonwealth Fusion Systems (CFS) with another $1 billion in equity financing, with the company on July 30 saying the funding supports the group’s continuing work toward operating a commercial fusion energy power plant. The ability of SPARC to demonstrate net fusion energy, and test HTS magnet technology, would pave the way for the ARC commercial power plant. Development of ARC, a grid-scale fusion power plant, is taking place at the company’s 400-MW Fall Line Fusion Power Station in Chesterfield County, Virginia. CFS earlier this year became the first U.S.-based fusion energy company to apply to join a major power grid operator. CFS in June announced the company had published five peer-reviewed physics basis papers detailing its work on the ARC fusion power plant.