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CFS, one of the largest and most-hyped nuclear fusion companies, will make a multibillion-dollar investment into building the facility near Richmond. When operational, the plant will be able to plug into the grid and produce 400 megawatts, enough to power around 150,000 homes, said its CEO Bob Mumgaard.
“This will mark the first time fusion power will be made available in the world at grid scale,” Mumgaard said. Virginia Gov. Glenn Youngkin welcomed the announcement, calling it “an historic moment for Virginia and the world at large.”
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It involves fusing atoms together to create a powerful burst of energy, achieved using the most abundant element in the universe: hydrogen. The most popular technology uses a donut-shaped machine called a tokamak.
Fusion is near limitless, produces no planet-heating pollution and unlike fission, the nuclear technology the world currently uses, it leaves no legacy of long-term nuclear waste.
But taking it from research projects in labs around the world to commercial use has proved fiendishly difficult. A common joke in the industry is that, for decades, fusion has been just decades away.
It’s something CFS acknowledges. “Nothing occurs overnight in fusion,” Mumgaard said. But the startup, which was spun out of MIT in 2018 and has raised more than $2 billion so far, says it is moving at pace.
It is “deep into” building a tokamak able to demonstrate net fusion energy: meaning a reaction that produces more energy than it consumes. It hopes to produce its first plasma – the superheated cloud of charged gas in which fusion reactions happen – in 2026 and achieve net fusion energy shortly afterward.
Building, owning and operating a power plant to plug fusion power into the grid is its “next act,” Mumgaard said.
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“In the early 2030s, all eyes will be on the Richmond region … as the birthplace of commercial fusion energy,” Mumgaard said.
Virginia is also theworld’s largestdata center market, a sector that requireshuge and growing amountsof energy. Data center electricity consumption in the US is expected to triple by 2030, equivalent to the amount needed to power around 40 million US homes, according to a Boston Consulting Groupanalysis.
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CFS says the Virginia plant is intended to be the first of thousands they plan to put onto the grid in the future.
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In general, nuclear fusion startups “tend to be a little aggressive in what they’re promising,” Jerry Navratil, a professor of fusion energy and plasma physics at Columbia University, told 【 - Free Access to Community 】 last month. There’s a big difference between producing energy from fusion and having a practical system that puts power on the grid and is safe, licensed and operating, he added.
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