Over twenty-five years ago, I started financing science in a world of uncertainty — first at Goldman Sachs, helping the biotech companies of a generation, and then at Moderna, where we built the mRNA platform based on our conviction, before the world had a reason to believe in it. I'm now into a new chapter as Chief Financial Officer of Commonwealth Fusion Systems, the clear leader in fusion energy. I'm not stepping away from life sciences — I'll stay close to the field through Ascenta Capital and my boards. But when the chance came to help build something in fusion, I couldn't pass it up. What pulled me to CFS was recognizing something very familiar from that first moment I saw Moderna in the early days. A combination of strategic vision with relentless execution, bolstered by a strong scientific foundation and standing on the shoulders of giants, with a pivotal technology that finally enables a new field. Both biotech and fusion demand conviction capital deployed against long timelines, years before revenue, funding a journey whose whole purpose is to discharge risk in sequence: first scientific, then engineering, then execution and scale. Fusion today is where mRNA was a decade ago: scientifically real, commercially yet-to-be-proven, and closer than the consensus thinks. CFS has already retired the hard scientific questions. Ahead is a different kind of risk in engineering, manufacturing, and capital formation, which is where I intend to support this incredible team already in place. To my colleagues and friends across biotech, thank you. That work shaped how I think about mission, impact, risk and value, and I'm bringing that mindset with me.
At Commonwealth Fusion Systems, we value those with proven experience that applies to our fusion energy mission — which is why I’m happy to welcome Lorence Kim as our new Chief Financial Officer. In that role, he’ll be able to apply to CFS his experience maturing a mission-driven, game-changing company from its deep science roots to commercialization. Lorence has deep experience with strategic advisory work, capital markets, fundraising and venture investing, having led the biotech investment banking effort at Goldman Sachs and co-founded Ascenta Capital. But importantly, he also was CFO for Moderna for six pivotal years of hypergrowth as the company developed its mRNA platform and portfolio of medicines, including its COVID-19 vaccine. His strong financial leadership will help CFS complete the assembly of our SPARC fusion demonstration machine, design our first ARC power plant and plug it into the grid, and eventually scale up to build many fusion power plants around the world. #FusionEnergy
Bold move, typical of Lorence.
Fusion, once operative, is the solution for energy abundance in a sustainable way and with lowest unit cost compared to other energy sources. But it was also an unrealised promise for quite some time. I hope this time it is for real.
Hey, Lorence Kim - - - This is Wicked Awesome! I just surfed your website. Your tech is very cool or should I say very warm? Brings me back to my aerospace engineering and superconducting magnet days. Next time you're in Devens, give me a shout. I'll tell you some stories. The kind of stuff they didn't teach us at MIT or HBS.
So proud! Crush it!!!! CFS is so fortunate to have you.
I love the update, and please continue to update us throughout your new endeavor. In this new age of AI with cognitive superpowers, I firmly believe there will be a hyper acceleration of cutting-edge scientific breakthroughs across all disciplines. Cheering you on, Lorence.
Congrats Lorence. This emerging field needs you and your experience to break through. Rock on!
Congratulations Lorence Kim Exciting opportunity with a generationally important company.
Amazing to have had the opportunity to work with Lorenz before the Moderna IPO. Lorenz is not only a brilliant CFO, investment banker, and physician-investor, but also one of the most down-to-earth and genuinely kind people you'll meet. I remember our entire team really enjoyed working with him. Congratulations, Lorenz, on your next chapter. Wishing you continued success!
Congratulations, Lorence, on the exciting opportunity! They are blessed to have you