Mentioned:
Google is getting in on something new: fusion power.
What’s happening:
- Google (NASDAQ: GOOG) has entered into a new deal with Commonwealth Fusion Systems to purchase fusion power
By the numbers:
- Commonwealth Fusion Systems will provide Google with 200 megawatts of electricity generated by fusion power as part of the new deal
Why it matters:
- This is the single largest purchase deal in history for nuclear fusion power and will be used to provide electricity to Google’s data centres located in Virginia
Going deeper:
- Google is also making a strategic investment into Commonwealth Fusion Systems concurrently with their fusion power purchase deal
- Commonwealth Fusion Systems was originally incubated at MIT before being spun out as an independent company and has landed some of the world’s biggest venture capital funds as investors, including Breakthrough Energy Ventures, Tiger Global Management and Khosla Ventures
The fine print:
- Commonwealth Fusion Systems initial fusion power facility located in Chesterfield County, Virginia is not yet fully constructed or operational and Google does not anticipate receiving any fusion power for at least five more years
