Commonwealth Fusion Systems (CFS) was founded in 2017 and has raised over US$2 billion to develop ARC, a compact fusion power machine. The company's key innovation is the use of high-temperature superconducting magnets, enabling a stronger magnetic field in a smaller space. The successful test of these magnets in September 2021 marked a significant milestone. CFS secured funding from prominent investors and institutions, including ARPA-E and Temasek, to support its research and development efforts. The company's long-term goal is to bring fusion energy to commercial fruition, with plans to construct the SPARC and ARC power plants in the near future.