ENI and CFS sign agreement on fusion energy

(ANSA) - ROME, MAR 9 - Italian oil giant ENI and Commonwealth Fusion System (CFS), a spin-off from the Massachusetts Institute of Technology (MIT), signed a new cooperation agreement on Thursday to speed up the industrialization of fusion energy.
    ENI first invested in CFS in 2018 and is a major shareholder.
    Thursday's agreement strengthens the partnership between the two companies, bringing together ENI's engineering and project management expertise and CFS' development project network.
    The agreement paves the way for construction of the first commercial power plant based on magnetic confinement fusion capable of feeding electricity into the grid.
    The plant is expected to be operational in the early 2030s.
    "Having this technology at the industrial level, providing large quantities of zero carbon energy produced in a safe, clean and virtually inexhaustible way, will mean that we will contribute substantially to the energy transition challenge," said ENI CEO Claudio Descalzi. (ANSA).