Commonwealth Fusion Systems, which is building a $300-million, 47-acre headquarters in Devens, announced on Wednesday it has closed on more than $1.8 billion in Series B funding to commercialize fusion energy.
The funding includes capital to construct, commission, and operate the world’s first commercially relevant net energy fusion machine, according to a press release to the company. It will allow Commonwealth Fusion to begin work on the first commercial fusion power plant.
The funding round was led by Tiger Global Management of New York City.
Commonwealth Fusion Systems was founded in 2018, out of technology developed at the Massachusetts Institute of Technology, and has raised more than $2 billion since then, per the company.
