Commonwealth Fusion Systems has raised another $50 million and most of the financing will go toward construction of the full-scale superconducting magnet technology Commonwealth Fusion uses to contain its reactions.
They will build a far smaller tokamak fusion system using stronger superconducting magnets.
The ultimate goal is to build a fusion reactor that can generate 50 megawatts of energy either as heat or to create electricity using a steam turbine.
They want to build a significant prototype system in a few years (by 2025) and build a full-scale commercial system by about 2033.
Improved magnets would improve any nuclear fusion design that involves confinement of plasma. There is less science risk to this MIT approach but more technological risk. They are trying to accelerate the commercial use of high-temperature superconducting magnets and trying to contain their costs. Cost for superconducting magnets for past fusion projects have been $20 per watt but other applications have seen costs of $1.4 to $1.8 per watt.
Other Fusion Companies With Aggressive Timelines
TAE Technologies is now saying they being commercialization efforts by 2023.
General Fusion is saying that they could have commercial nuclear fusion within ten years.
LPP Fusion continues its work on dense plasma fusion.
Wang is a prolific business-oriented writer of emerging and disruptive technologies. He is known for insightful articles that combine business and technical analysis that catches the attention of the general public and is also useful for those in the industries. He is the sole author and writer of nextbigfuture.com
, the top online science blog. He is also involved in angel investing and raising funds for breakthrough technology startup companies.
He gave the recent keynote presentation at Monte Jade event with a talk entitled the Future for You. He gave an annual update on molecular nanotechnology at Singularity University on nanotechnology, gave a TEDX talk on energy, and advises USC ASTE 527 (advanced space projects program). He has been interviewed for radio, professional organizations. podcasts and corporate events. He was recently interviewed by the radio program Steel on Steel on satellites and high altitude balloons that will track all movement in many parts of the USA.
He fundraises for various high impact technology companies and has worked in computer technology, insurance, healthcare and with corporate finance.
He has substantial familiarity with a broad range of breakthrough technologies like age reversal and antiaging, quantum computers, artificial intelligence, ocean tech, agtech, nuclear fission, advanced nuclear fission, space propulsion, satellites, imaging, molecular nanotechnology, biotechnology, medicine, blockchain, crypto and many other areas.