In 2021, Commonwealth Fusion Systems proved it had built the most powerful magnet in the world. The breakthrough was based on a specific material - a tape - that conducts massive amounts of current with very little loss.
Rick Needham, Chief Commercial Officer for CFS, says the breakthrough led to a $1.8 billion Series B fundraising round. Since then, the company has turned its attention to turning this scientific breakthrough into a commercial technology. And in late 2024, the company announced it had signed a deal with Dominion Energy Virginia to build the world’s first commercial fusion power plant, ARC.
In this episode, Lara talks with Rick about how CFS plans to take its technology from the lab to real-world deployment. They discuss major milestones, like proving net energy gain and finding a customer for a technology that has never been proven in the field. And Rick makes the argument that fusion is much closer than most people think.
Credits: Hosted by Lara Pierpoint. Produced by Erin Hardick. Edited by Anne Bailey and Stephen Lacey. Original music and engineering by Sean Marquand. Stephen Lacey is executive editor.
The Green Blueprint is a co-production of Latitude Media and Trellis Climate. Subscribe on Apple, Spotify, or anywhere you get podcasts. For more reporting on the companies featured in this podcast, subscribe to Latitude Media's newsletter.
