

Really interesting article about Loureiro from back in December
“If you walked into a room of fusion scientists in 2018 or 2019 and said there were going to be fusion startups, and venture capital funding to the tune of $9 billion, you would have been laughed out of the room,” says Nuno Loureiro, the director of MIT’s Plasma Science and Fusion Center (PSFC).
When CFS announced its latest funding round in August, investors talked about fusion as a potentially world-changing technology. “Achieving commercial, affordable fusion power would be one of the most transformative milestones in human history—delivering clean, limitless energy to help strengthen energy security and improve global living standards,” said Carmichael Roberts, managing partner at Breakthrough Energy Ventures.
Commonwealth Fusion Systems (CFS) recently closed an $863 million Series B2 funding round, bringing the MIT spinoff’s total capital raised to nearly $3 billion. The UK government recently announced a £2.5 billion commitment to fusion development, Germany committed €2 billion, and the Shanghai government has created a ¥10 billion fund to support fusion research. And in October, the U.S. Department of Energy published a roadmap identifying key steps the U.S. needs to take by the mid-2030s to lead the world in commercial fusion energy deployment, including expanded public-private partnerships.
When CFS announced its latest funding round in August, investors talked about fusion as a potentially world-changing technology. “Achieving commercial, affordable fusion power would be one of the most transformative milestones in human history—delivering clean, limitless energy to help strengthen energy security and improve global living standards,” said Carmichael Roberts, managing partner at Breakthrough Energy Ventures.
By 2100, fusion could provide anywhere between less than 10% to about 50% of global electricity generation in a “deep decarbonization” scenario, according to a 2024 MIT Energy Initiative report. More immediately, fusion could serve facilities like data centers, whose operators are willing to pay a premium for a reliable source of clean energy.
Loureiro calls CFS “very serious,” but he also says it’s an “open question” whether it is realistic to expect that fusion power will become commercially viable by the early 2030s. He notes that fusion startups are racing not only against each other, but also with the advances being made in other sources of clean power. “All of these companies are pursuing very aggressive timelines, because it’s a competition with advanced nuclear and geothermal,” he says.
Loureiro notes that the race for fusion also has geopolitical implications, with China and others striving to be the first to produce fusion energy at scale. Despite the influx of private capital, U.S. government funding for fusion has been largely flat for two decades, he says, with annual spending hovering around the same amount as the CFS Series B2 round.
“This is a very advanced technology, and whatever nation masters it first is going to have an incredible advantage,” Loureiro says. “There is a moonshot opportunity here, a version of the Apollo program. But you cannot fund a disruptive technology with non-disruptive levels of money.”
I wonder what he thought about the Department of Energy’s new Office of Fusion and the Office of AI and Quantum?























Sadly true, but considering this man might have had some very valuable testimony to provide regarding a recent Congressional hearing, this one really, really, really deserves much closer attention.