David Chandler in MIT News:
Progress toward the long-sought dream of fusion power — potentially an inexhaustible and zero-carbon source of energy — could be about to take a dramatic leap forward.
Development of this carbon-free, combustion-free source of energy is now on a faster track toward realization, thanks to a collaboration between MIT and a new private company, Commonwealth Fusion Systems. CFS will join with MIT to carry out rapid, staged research leading to a new generation of fusion experiments and power plants based on advances in high-temperature superconductors — work made possible by decades of federal government funding for basic research.
CFS is announcing today that it has attracted an investment of $50 million in support of this effort from the Italian energy company Eni. In addition, CFS continues to seek the support of additional investors. CFS will fund fusion research at MIT as part of this collaboration, with an ultimate goal of rapidly commercializing fusion energy and establishing a new industry.
“This is an important historical moment: Advances in superconducting magnets have put fusion energy potentially within reach, offering the prospect of a safe, carbon-free energy future,” says MIT President L. Rafael Reif. “As humanity confronts the rising risks of climate disruption, I am thrilled that MIT is joining with industrial allies, both longstanding and new, to run full-speed toward this transformative vision for our shared future on Earth.”