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An oil and gas giant signed a $1 billion deal with Commonwealth Fusion Systems

Casey Crownhart

created: Sept. 22, 2025, 11 a.m. | updated: Sept. 25, 2025, 8:40 a.m.

The agreement will see Eni purchase electricity from Commonwealth’s first commercial fusion power plant, in Virginia. The news comes a few weeks after Commonwealth announced a $863 million funding round, bringing its total funding raised to date to nearly $3 billion. The fusion company also announced earlier this year that Google would be its first commercial power customer for the Virginia plant. Commonwealth, a spinout from MIT’s Plasma Science and Fusion Center, is widely considered one of the leading companies in fusion power. That plasma is where fusion reactions happen, forcing hydrogen atoms together to release large amounts of energy.

2 months, 3 weeks ago: MIT Technology Review