Commerce signs CHIPS letters of intent with Helion and CFS
The Commerce Department said on Oct. 22 that it signed letters of intent for up to $389 million in CHIPS research awards, including up to $175 million for Helion and up to $85 million for Commonwealth Fusion Systems. The letters are not final funded awards. Commerce said each award would carry a minority non-voting equity stake, and Helion said its stake would be a $175 million non-voting interest, based on the Series G valuation, only after a definitive agreement.
/ Sources
/ About this story
Compiled by Venture Atlas from the sources above, using automated AI-assisted research. This is a summary of reporting published elsewhere, not original reporting - follow the source links for the full account. See our editorial standards.
Something wrong here? Email apostructura@gmail.com and we will fix it.
/ Related
- DOE picks CFS to lead SPARC digital-twin projectThursday, October 8, 2026
- CFS places record 10,000 km HTS tape order with FujikuraWednesday, September 30, 2026
- Commonwealth Fusion runs SPARC's cryogenic system at 8 kelvinThursday, September 17, 2026
- Hyundai joins CFS $1B raise for ARC plant talksFriday, September 11, 2026