Commonwealth Fusion Systems has agreed to sell Italian energy company Eni more than $1 billion worth of power from its first fusion reactor.

The power plant will be built outside of Richmond, Virginia , close to some of the highest densities of data centers in the country. The 400-megawatt fusion reactor, called Arc, is expected to open in the early 2030s, CEO Bob Mumgaard said.

The Eni agreement is the second such deal for Commonwealth Fusion Systems (CFS). In June, Google said that it would buy half the reactor’s output . When asked, neither CFS nor Eni would say how much power the deal covers nor its timeline.

Mumgaard told reporters last week that CFS’s first power plant, the demonstration-scale Sparc reactor in Devens, Massachusetts, is 65% complete. The company has previously

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