Eni to bring its fusion power to Europe by 2040s

INTERNATIONAL energy firm Eni says it plans to open a commercial fusion plant in Europe by the 2040s as part of its long-time partnership with US private fusion company Commonwealth Fusion Systems (CFS).

Eni has been eyeing fusion, specifically magnetic confinement fusion, as a low-carbon renewable energy offering for almost a decade. It has been a shareholder since 2018, and has multiple research partnerships with the UK Atomic Energy Agency and the National Research Council of Italy.

According to a report from the FT, Francesca Ferrazza, the head of magnetic fusion initiatives at Eni, has confirmed that the company is aiming to open a commercial plant by the 2040s or sooner.

CFS is one of the largest private fusion firms in the world, having secured $1bn in its recent funding round, racking up to $4bn in total investment.

The company is expected to reach net fusion energy gain by 2027 and is currently developing its first commercial fusion plant, called ARC, in the US state of Virginia, which it plans to bring online in the early 2030s.

Fusion tech

CFS is specifically using tokamak technology to develop its fusion device. Tokomaks use high temperature superconductor magnets to confine and shape plasma that can fuse deuterium and tritium hydrogen isotopes and produce energy.

The company is developing its device, called SPARC, with MIT’s Plasma Science and Fusion Center.

Its ARC plant is expected to produce about 400 megawatts, which it looks to supply to homes and large industrial businesses. As well as Eni, CFS is also working with Google on ARC, which has agreed to purchase half of the plant’s power once it comes online.

Energy investment in fusion

Eni is one of many large energy companies that have made big investments in fusion. Chevron has been an investor in Seattle-based Zap Energy since 2020, with Shell also investing in the company in 2022.

The fusion industry is rapidly starting field confidence, with the industry attracting $4.5bn of funding last year. Though the majority of private firms are coming from the US, new businesses are starting to crop up in Europe, namely in Germany.