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Commonwealth Fusion secures $1B capital raise to set stage for Chesterfield power plant
['Jack Jacobs', 'George Macguffin', 'Bruce Milam', 'Shawn Harper', 'Kendall Auel', 'Brian Duffy', 'Todd Flowers', 'Carl Schwendeman']
Richmond BizSense
An MIT-born startup’s plan to build the world’s first nuclear fusion power plant in Chesterfield just got a 10-figure jolt.
CFS says it will power up the Chesterfield facility, which is being called the Fall Line Fusion Power Station, in the early 2030s.
The 400-megawatt fusion plant would be built on 25 to 40 acres of an overall 94-acre property owned by Dominion Energy in the Chester area.
The company, which calls itself the largest private fusion company in the world, was spun out of MIT in 2018 as a business venture to commercialize fusion power.
The successful operation of that machine would be a preliminary step toward the commercial-scale fusion plant planned locally.