[2] It has participated in the United States Department of Energy’s INFUSE public-private knowledge innovation scheme, with several national labs and universities.

[9] In September 2020, the company reported significant progress in the physics and engineering design of the SPARC tokamak,[1][10] and in October 2020, the development of a new high temperature superconducting cable, called VIPER.

[13] In March 2021, CFS announced plans to build a headquarters, manufacturing, and research campus (including the SPARC tokamak), in Devens, Massachusetts.

[17][18] According to the New York Times, this was a successful test of "the world's most powerful version of the type of magnet crucial to many fusion efforts"[19] In November 2021, the company raised an additional $1.8 billion in Series B funding to construct and operate the SPARC tokamak,[20] funded by Temasek Holdings, Google, Bill Gates and Eni.

[22] In March 2022, Axios reported that as a result of sanctions against Russia, CFS faced significant supply chain problems.

[26] In 2024, CFS announced plans to build the world's first grid-scale commercial nuclear fusion power plant at the James River Industrial Center in Chesterfield County, Virginia.

[22] The magnet technology used in SPARC is intended to give "the world a clear path to fusion power,"[33] according to the CFS CEO Bob Mumgaard.