When will fusion power startup Commonwealth Fusion Systems go public?
Fusion power startup Commonwealth Fusion Systems (CFS) is reportedly preparing for an IPO within the next two to three years. The hiring of former Moderna CFO Lorence Kim, who has experience taking biotech firms public, has fueled speculation about the company's financial trajectory.
Why it matters
Fusion energy is considered a 'holy grail' for clean energy, and a successful IPO would signal significant investor confidence in the commercial viability of deep-tech climate solutions.
Commonwealth Fusion Systems (CFS) is the best funded fusion power startup , having raised $4 billion from investors over the last seven years, including the $1 billion the company has raised now .
Now, developments at CFS , plus rumblings from industry sources TechCrunch has spoken with in recent months, suggest that the startup might go public in the next two or three years.
One of those developments was the appointment of Lorence Kim as CFS’s new Chief Financial Officer this week. Kim’s previous stint as a CFO was at Moderna, a biotech which specializes in mRNA therapies, which he joined in 2014 and subsequently helped take public in December 2018. He stuck around another year-and-a-half before returning to biotech investing.
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