Commonwealth Fusion Systems, the largest private fusion company, will make a multi-billion dollar investment to build the world’s first grid-scale commercial fusion power plant at the James River Industrial Center in Chesterfield County, Virginia, on a site owned by Dominion Energy. The project will create hundreds of temporary and permanent jobs in the region.
“This is an historic moment for Virginia and the world at large,” said Governor Glenn Youngkin. “Commonwealth Fusion Systems is not just building a facility, they are pioneering groundbreaking innovation to generate clean, reliable, safe power, and it’s happening right here in Virginia. We are proud to be home to this pursuit to change the future of energy and power.”
“Virginia offers a strong talent pool and the Chesterfield County site is excellent for fusion energy’s debut,” said Secretary of Commerce and Trade Caren Merrick. “Commonwealth Fusion Systems will create hundreds of temporary construction jobs then full-time jobs once operations begin.”
“In the early 2030s, all eyes will be on the Richmond region, and more specifically Chesterfield County, as the birthplace of commercial fusion energy,” said CFS Co-founder and Chief Executive Officer Bob Mumgaard. “Virginia emerged as a strong partner as they look to implement innovative solutions for both reliable electricity and clean forms of power. We are pleased to collaborate with Dominion Energy.”
Headquartered in Massachusetts, CFS conducted a global search for the site of its first commercial fusion power plant, known as ARC, which the company will independently finance, build, own, and operate. ARC will generate about 400 megawatts of electricity — enough energy to power large industrial sites or about 150,000 homes. The project is expected to spur billions of dollars in economic development in the region and create hundreds of jobs during the long-term operation of the power plant.
“Commonwealth Fusion Systems is the clear industry leader in advancing the exciting energy potential of fusion,” said Dominion Energy Virginia President Edward H. Baine. “Our customers’ growing needs for reliable, carbon-free power benefits from as diverse a menu of power generation options as possible, and in that spirit, we are delighted to assist CFS in their efforts.”
“There could not be a more significant project for the first grant of Virginia’s Clean Energy Innovation Bank than the world’s first commercial fusion plant,” said Virginia Department of Energy Director Glenn Davis. “Virginia Energy is excited about what this project could mean to the Commonwealth, our nation, and the world.”
The Board of Supervisors is grateful this innovative company has chosen Chesterfield for its new fusion facility,” said Chesterfield County Board of Supervisors Chairman James Holland. “Chesterfield is the home of many firsts, and we welcome the opportunity to be a part of Commonwealth Fusion Systems’ pursuit to be the world’s first grid-scale commercial fusion power plant. The county’s prime location, educated workforce, and competitive tax structure make us the perfect choice for this pioneering business.”
CFS is currently completing development of its fusion demonstration machine, SPARC, at its headquarters in Devens, Massachusetts. SPARC is expected to produce its first plasma in 2026 and net fusion energy shortly afterward, demonstrating for the first time a commercially relevant design that will produce more power than consumed. SPARC paves the way for ARC, which is expected to deliver power to the grid in the early 2030s.
CFS was spun out of Massachusetts Institute of Technology in 2018. Since then, it has raised more than $2 billion in capital. In addition to this private capital, CFS has been awarded $16.5 million in grants from the U.S. Department of Energy. The most recent grant of $15 million was announced in June 2024 as part of the first phase of the DOE’s Milestone-Based Fusion Development Program.
The Virginia Department of Energy partnered with Virginia Economic Development Partnership, Chesterfield County, and Dominion Energy to secure this project. This project includes a $1 million grant by the Virginia Clean Energy Innovation Bank matched with a $1 million grant by Chesterfield County.
