ALBUQUERQUE — New Mexico Governor Michelle Lujan Grisham today announced that Pacific Fusion, a commercial fusion energy company, has selected New Mexico as the site for its first Research and Manufacturing Campus.

The $1 billion facility at Mesa del Sol positions New Mexico at the forefront of the emerging fusion energy industry and cement its role as a national leader in advanced energy innovation.

Fusion, the same process that powers the sun and stars, has long been considered the holy grail of clean safe energy, and with the potential to generate near-limitless on-demand power.

“Pacific Fusion’s decision to build in New Mexico proves that our state can compete—and win—in the race to attract the most innovative companies in the world,” Lujan Grisham said. “This project will create good jobs, expand our clean-tech economy, and ensure New Mexico continues to lead in the industries of the future.”

Pacific Fusion will build a state-of-the-art research and manufacturing facility, housing its Demonstration System, which is designed to achieve net facility gain—producing more energy from a fusion reaction than the total energy used – by 2030. Reaching this milestone would mark a historic breakthrough toward commercial fusion power.

“After years of working to build Albuquerque as a hub for energy technology innovation, Pacific Fusion joins a growing number of companies that are choosing our city to literally ‘power’ our future,” Albuquerque Mayor Tim Keller said. “Today is proof of the assertion that we have passed a turning point—that our city is not only on the map, but can define the next chapter of clean-energy innovation.”

Pacific Fusion was founded in 2023 to deliver affordable fusion energy. Its technology builds on New Mexico’s legacy of applied physics and clean-energy innovation, including decades of research at Sandia National Laboratories, home to some of the world’s leading fusion experiments. In addition to its historic leadership in applied physics and energy innovation, New Mexico offers a growing clean-tech ecosystem and a workforce that aligns with Pacific Fusion’s future hiring needs.

“We’re excited to expand our operations to New Mexico for many reasons, chief among them the close partnership we’ve developed with state and local leadership, who have made this project possible,” Keith LeChien, co-founder and chief technology officer of Pacific Fusion, said. “Working alongside the Governor’s office, the Economic Development Department, the City of Albuquerque, key legislators from both parties, and the national labs, we’ve built true partnerships over the past several months. That collaboration gives us confidence that together we’ll be able to move quickly to deliver on the promise of low-cost fusion power.”

Upon finalization, the project will bring more than 200 long-term jobs to the state, along with hundreds more construction jobs, workforce development programs, and regional economic activity. It is an anchor investment for a broader fusion ecosystem in New Mexico.

“This is a groundbreaking project that puts New Mexico at the forefront of fusion energy,” Economic Development Department Cabinet Secretary Rob Black said. “Welcoming a world-class company like this into our state opens the door to an entirely new era of clean energy innovation. It means thousands of potential future jobs, a new supply chain, and the opportunity to cement our state’s leadership in clean technology for decades to come.”

Pacific Fusion has raised more than $900 million in private capital from General Catalyst, Lowercarbon Capital, Breakthrough Energy Ventures, Lightspeed Venture Partners, DCVC, UP.Partners and other leading investors. The New Mexico State Investment Council’s commitments to investing in key sectors and VC firms actively sourcing New Mexico opportunities played a pivotal role in Pacific Fusion’s choice to make New Mexico the home for its next major facility.

“The State Investment Council has strategically committed $1 billion since just June to top-tier venture capital funds investing in New Mexico’s booming start-up and hard-science ecosystem,” New Mexico State Investment Officer Jon Clark said. “By partnering with proven VCs like Lowercarbon, Lightspeed and UP.Partners – all key backers of Pacific Fusion’s technology – we are creating momentum and opportunity that will help position New Mexico as an emerging leader in a cutting-edge industry,”

Pacific Fusion’s Albuquerque facility will build upon the success of its existing facilities in Northern California, where the company will remain headquartered, and represent a major expansion of the company’s footprint and scaling. The new facility will focus exclusively on research and manufacturing, not power generation. It is being designed to operate safely and without disruption to the surrounding area.

“New Mexico is on the brink of an economic development surge that will demand more energy than ever,” State Senator Michael Padilla said. “Fusion power offers a meaningful solution to help meet that growing demand, and Pacific Fusion’s investment here shows that New Mexico will be a leader in delivering it.”

“Pacific Fusion’s decision to locate in Albuquerque represents a historic investment in our state’s future,” Representative Meredith Dixon said. “This project will bring high-quality jobs, educational partnerships, and economic opportunities while helping New Mexico take a leading role in building the carbon-free energy economy.”

“We are excited about Pacific Fusion coming to Mesa Del Sol, where innovation and sustainability go hand in hand,” Albuquerque City Councilor Nichole Rogers said. “This project represents a forward-looking investment in clean energy jobs and cutting-edge research, aligned with Albuquerque’s commitment to environmental responsibility. As plans develop, we remain focused on ensuring this facility reflects the highest safety, sustainability, and community integration standards.”

“AREA has enjoyed helping the company identify the right location and connecting them with key regional partners throughout the site selection process,” Chad Matheson, Interim President and CEO of the Albuquerque Regional Economic Alliance said. “This investment represents an exciting step forward for research and development in our region, and we look forward to seeing Albuquerque be the fusion capital of the world.”

Pacific Fusion’s expansion into New Mexico is supported by state and local performance-based incentives, which the company will receive only as it fulfills its commitments to create new jobs and make significant capital investments. The company will launch its manufacturing operations in New Mexico before the end of the year, with facility construction set to begin in 2026.

Hiring is already underway.

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Contacts:

New Mexico Economic Development Department:
Chris Chaffin, Chris.Chaffin@edd.nm.gov

New Mexico State Investment Council
Charles Wollmann
Charles.Wollmann@sic.nm.gov

Albuquerque Economic Development Department:
Sara Mannal, smannal@cabq.gov

Pacific Fusion
Alex Doniach, Alex.Doniach@pacificfusion.com