Eni invests in a new CFS technology funding round
Eni announces that it has taken part in the recent funding round for CFS (Commonwealth Fusion Systems), the spin-out Massachusetts Institute of Technology company, in which Eni is already the largest shareholder.
CFS has raised a total of more than $1.8 billion from the market as it works to bring commercial fusion power to the grid by the early 2030s.
Eni was the first energy company to believe and invest in this technology, which could make a major contribution to the energy transition. Magnetic confinement fusion is a cornerstone of Eni’s engagement in technologies that can pave the way to decarbonization, as it will prospectively provide a virtually inexhaustible supply of energy and without CO2 emissions, transforming the energy sector forever.
The CFS path with support from Eni is one built on a pragmatic and progressive approach towards the deployment of magnetic confinement fusion technology. A concrete path in which CFS reached a fundamental goal in September with the successful test of its high-temperature superconducting magnet technology, which was the strongest magnet of its kind in the world enabling net energy from fusion in a future demonstration plant.
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