"Eni Next Secures Strategic Investment in Commonwealth Fusion Systems' $863 Million Series B2 Funding Round"

"Dentons law firm assisted Eni Next in a capital raising round for Commonwealth Fusion Systems, which raised $863 million through a Series B2 stock issuance. Eni, a strategic investor in Commonwealth since 2018, has increased its investment and signed a cooperation agreement in 2023 to develop fusion energy. In September 2025, they established a Power Purchase Agreement worth over $1 billion for decarbonized electricity from Commonwealth's 400 MW fusion plant in Virginia, further strengthening their long-term partnership. This PPA is the second energy supply agreement Commonwealth has signed for its first industrial-scale fusion power plant."

The law firm Dentons assisted Eni Next in a capital raising round involving the issuance of Series B2 shares of Commonwealth Fusion Systems, valued at $863 million. Commonwealth Fusion Systems is the largest private company globally in the field of fusion energy, and Eni, through Eni Next, was one of the first investors in the company in 2018. Eni has now become a strategic shareholder, having increased its investment in the recent Series B2 round. The transaction follows a cooperation agreement signed in 2023 between Eni and Commonwealth Fusion Systems to collaborate on the development of fusion energy, which was subsequently followed by a Power Purchase Agreement (PPA) in September 2025 worth over $1 billion. This agreement expands the long-standing strategic partnership between the two companies for the commercialization of fusion energy. The PPA involves Eni purchasing decarbonized electricity from ARC, Commonwealth Fusion Systems' 400 MW fusion energy production facility located in Chesterfield County, Virginia, with grid connection expected in the early next decade. The Dentons team was led by partner Barbara Urselli, supported by partner James Jasaitis from the New York office for local law aspects. Dentons worked alongside Eni's in-house legal team, which included lawyers Federica Andreoni, Liana Rupnik, and Davide Alesso.

"Eni Next Secures Strategic Investment in Commonwealth Fusion Systems' $863 Million Series B2 Funding Round"

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