- BUSINESS MEETINGS AND AGREEMENTS
Or , our new artificial intelligence tool.
San Donato Milanese (Milan), 1 December 2021 – Eni announces that it has taken part in the recent funding round for CFS (Commonwealth Fusion Systems), the spin-out Massachusetts Institute of Technology company, in which Eni is already the largest shareholder.
CFS has raised a total of more than $1.8 billion from the market as it works to bring commercial fusion power to the grid by the early 2030s.
Eni was the first energy company to believe and invest in this technology, which could make a major contribution to the energy transition. Magnetic confinement fusion is a cornerstone of Eni’s engagement in technologies that can pave the way to decarbonization, as it will prospectively provide a virtually inexhaustible supply of energy and without CO2 emissions, transforming the energy sector forever.
The CFS path with support from Eni is one built on a pragmatic and progressive approach towards the deployment of magnetic confinement fusion technology. A concrete path in which CFS reached a fundamental goal in September with the successful test of its high-temperature superconducting magnet technology, which was the strongest magnet of its kind in the world enabling net energy from fusion in a future demonstration plant.
Claudio Descalzi, CEO of Eni, said, "From the very beginning, we have strongly believed that this technology could be a breakthrough on the path to producing net zero energy. Magnetic fusion can significantly increase the pace at which the world cuts its carbon emissions. We have worked with the CFS team for these last years because we recognised that their work could transform the energy landscape. Thanks to their monumental breakthroughs a commercial fusion plant is soon going to be within reach. We’re proud to be backing the company with significant new investment together with project management and engineering expertise to make that prospect a reality”.
CFS confirmed that the funding will make it possible to build, commission SPARC, the world's first net positive energy fusion machine.
In addition, the transaction will enable CFS to accelerate and de-risk its work program on ARC, the first commercial plant capable of supplying fusion energy to the electricity grid.
The CFS roadmap envisages the completion and operational testing of SPARC by 2025, and the start-up of ARC by the early 2030s.
If you want to change topic, clear the chat and make a new query to receive more relevant results.
This will delete the question history.
If you want to change topic, clear the chat and make a new query to receive more relevant results. This will delete the question history.
Here you can find the full list of your queries.
The answers are generated by artificial intelligence, therefore they may contain inaccuracies. Please read the terms and conditions of use.
EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions. EnergIA can also perform a search on a specific topic, providing the most up-to-date data available, or it can invite you to delve deeper into a topic of your interest by suggesting links and specific readings. Start now!
EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions. Start now!
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.
Search
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.
A new window into Eni’s world, at your disposal. EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions.