Photo | Courtesy of Commonwealth Fusion Systems
Bob Mumgaard, CEO of Commonwealth Fusion Systems, in Devens
December 17, 2024
Commonwealth Fusion to build world’s first grid-scale commercial fusion power plant in Virginia
Image | Courtesy of Commonwealth Fusion Systems
Devens-based Commonwealth Fusion Systems is planning on opening the world's first commercial-scale fusion energy plant in Virginia.
Commonwealth Fusion Systems, the Devens-based firm looking to utilize carbon-free fusion technology as a commercial power source, is planning to construct the world’s first grid-scale commercial fusion plant.
The fusion power plant is set to be based in Chesterfield County, Virginia, and will be financed, built, owned, and operated by CFS, according to a press release issued Tuesday.
“This is a historic moment. In the early 2030s, all eyes will be on the Richmond region and more specifically Chesterfield County, Virginia, as the birthplace of commercial fusion energy,” Bob Mumgaard, CEO and co-founder of CFS and member of the WBJ 2024 Power 100, said in the press release. “Virginia emerged as a strong partner as they look to implement innovative solutions for both reliable electricity and clean forms of power. We are pleased to collaborate with Dominion Energy.”
CFS settled on a Virginia location following a global search. Dominion Energy Virginia will provide non-financial collaboration for the plant, including development and technical expertise. Dominion will hold leading rights for the site, which it owns.
When operational, the plant is expected to generate enough energy to power about 150,000 homes using nuclear fusion technology. The same source of energy powering the Sun and other stars, nuclear fusion utilizes energy from the leftover mass created when two light nuclei are merged into a singular heavier nucleus.
Widely considered to be much safer than nuclear fission power plants, fusion technology does not produce highly radioactive, long-lived nuclear waste like fission tech, nor does it suffer the same risk of meltdowns, according to the International Atomic Energy Agency.
The new plant, dubbed ARC, will follow SPARC, a demonstration machine which CFS is building in Devens. The company expects SPARC to produce its first plasma in 2026 and produce net fusion energy shortly thereafter. ARC is expected to be operational sometime in the early 2030s.
CFS has made progress towards becoming operational in Massachusetts in the second half of 2024. The firm received a state license to store radioactive materials at its Devens facility in October and completed a key test of its magnet technology in November.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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