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San Donato Milanese (Mi), 09 March 2018 – Eni and Commonwealth Fusion Systems (CFS), a spin-out of the Massachusetts Institute of Technology, have signed an agreement that will allow Eni to acquire an equity stake in CFS. Eni will support CFS to develop the first commercial power plant producing energy by fusion, a safe, sustainable, virtually inexhaustible source without any emission of pollutants and greenhouse gases.
CFS was created by a group of former MIT scientists and researchers who have been involved in plasma physics and fusion processes research for years. Eni will acquire a significant share in the company with an initial investment of 50 million dollars. Eni will become part of the Board of Directors and also contribute its industrial resources and know-how.
The activities under consideration with CFS will be divided into three phases: the first involves the development of high-temperature superconducting magnets, the second includes the realization of an experimental net energy fusion device, the third and last involves the construction and operation of the first industrial fusion plant that would provide a continuous remunerative production of fusion energy.
Eni's stake acquisition in CFS will be completed by the second quarter of 2018.
In parallel, Eni has signed an agreement with MIT through MIT’s Energy Initiative that will allow the company to jointly carry out research programs on plasma physics and advanced fusion and electromagnets technologies.
The agreements signed today are part of Eni's decarbonisation strategy and reflect its intention to strengthen research partnerships in the energy sector. Eni’s strategy supports the development of “game changer” technologies that respond to the world’s growing energy needs with environmentally and economically sustainable solutions.
Eni’s Chief Executive Officer Claudio Descalzi commented: "Today is a very important day for us. Thanks to this agreement, Eni takes a significant step forward towards the development of alternative energy sources with an ever lower environmental impact. Fusion is the true energy source of the future, as it is completely sustainable, does not release emissions or long-term waste, and is potentially inexhaustible. It is a goal that we are increasingly determined to reach quickly ".
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EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
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