An oil and gas giant signed a $1 billion deal with Commonwealth Fusion Systems
The agreement will see Eni purchase electricity from Commonwealth’s first commercial fusion power plant, in Virginia. The facility is still in the planning stages but is scheduled to come online in the early 2030s. 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.