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After spinning CFS out of MIT in 2018, Mumgaard raised over $2 billion — more than any other private fusion company — to build SPARC, a compact net-energy fusion device powered by high-temperature superconducting magnets his team proved could make fusion reactors smaller and economically viable.
Bob Mumgaard is Co-Founder and CEO of Commonwealth Fusion Systems, an MIT spinout building SPARC, a compact fusion demonstration device, and ARC, a follow-on commercial power plant.
CFS has raised over $2 billion from Breakthrough Energy Ventures, Google, and Khosla Ventures, and signed a partnership with Dominion Energy to site its first commercial plant in Virginia. Its high-temperature superconducting magnets enable smaller, more economical reactors.
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