Fusion companies sign LOIs for federal R&D awards

[Marlin]

Fusion companies sign LOIs for federal R&D awards

https://www.ans.org/news/2026-10-28/article-8526/fusion-companies-sign-lois-for-federal-rd-awards/

[Core Content]

Fusion companies sign LOIs for federal R&D awards

The Department of Commerce signed letters of intent to award federal funding under the CHIPS and Science Act to fusion developers Helion and Commonwealth Fusion Systems. Helion is slated to receive up to $175 million for power semiconductor research, while Commonwealth Fusion Systems is eligible for up to $85 million for plasma heating and diagnostics electronics. In exchange, the federal agency will secure non-voting equity stakes in the companies.

The Department of Commerce announced the signing of four letters of intent for federal research and development awards under the CHIPS and Science Act focused on semiconductors and power electronics, including awards for fusion companies Helion and Commonwealth Fusion Systems.

"These investments expand domestic research, secure critical supply chains, and create high-paying American jobs," said Secretary of Commerce Howard Lutnick.

According to the announcement, the Department of Commerce will receive a "minority, non-controlling and non-voting equity stake" in each company as a condition of the awards.

Helion: Helion was selected to receive up to $175 million to develop and scale high-voltage power semiconductors, which the company said are designed to deliver higher efficiency, longer operating lifetime, and more efficient cooling. The award also would support the development of advanced energy power modules designed for high-peak-current pulsed-power applications.

Read the full article at ans.org:
https://www.ans.org/news/2026-10-28/article-8526/fusion-companies-sign-lois-for-federal-rd-awards/