Energy company buys Devens land
A development site of 12 acres has been purchased by Commonwealth Fusion Systems (CFS) of Devens.
CFS, which is an energy innovation company, bought the land from MassDevelopment for the price of $1.5m. The site is next to its development and manufacturing facility in Devens.
Kristen Cullen, head of public affairs for CFS, said the site is on Hospital Road and gives the company the potential to expand its campus. Cullen added that no specific plans for the property have been determined as yet.
News of such acquisitions and their potential for the community is often made known throughout a region with flyer printing.
The agreement with MassDevelopment states that the company is obligated to build on the site before August 10, 2030. If no construction has taken place by that date, MassDevelopment has the option to repurchase the property.
CFS opened its current development and manufacturing facility, spanning 50 acres, in February. In 2025, the company is planning to have its SPARC tokamak, which is a magnetic device containing a fusion reaction, and by the early 2030s it hopes to be feeding fusion power to the grid.
MassDevelopment was formed in 1998 to focus on economic development in Massachusetts. When Fort Devens closed in 1996, the agency purchased the property, which covers 4,400 acres, with the goal of developing the land into a community for living, working, and playing.
CFS, which is an energy innovation company, bought the land from MassDevelopment for the price of $1.5m. The site is next to its development and manufacturing facility in Devens.
Kristen Cullen, head of public affairs for CFS, said the site is on Hospital Road and gives the company the potential to expand its campus. Cullen added that no specific plans for the property have been determined as yet.
News of such acquisitions and their potential for the community is often made known throughout a region with flyer printing.
The agreement with MassDevelopment states that the company is obligated to build on the site before August 10, 2030. If no construction has taken place by that date, MassDevelopment has the option to repurchase the property.
CFS opened its current development and manufacturing facility, spanning 50 acres, in February. In 2025, the company is planning to have its SPARC tokamak, which is a magnetic device containing a fusion reaction, and by the early 2030s it hopes to be feeding fusion power to the grid.
MassDevelopment was formed in 1998 to focus on economic development in Massachusetts. When Fort Devens closed in 1996, the agency purchased the property, which covers 4,400 acres, with the goal of developing the land into a community for living, working, and playing.