General Fusion has secured a $20 million investment from Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, and the Business Development Bank of Canada’s investment arm, BDC Capital.
With these new dollars, the funding for their Lawson Machine 26 (LM26) program has reached $71 million since its launch in 2023.
The financing will enable General Fusion to continue advancing its innovative technology – Magnetized Target Fusion (MTF) – to provide clean fusion energy to the grid by the early to mid-2030s.
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To fast-track its progress toward commercialization, General Fusion is advancing its LM26 demonstration program in Richmond, B.C.
This ground-breaking machine is designed to achieve two transformational milestones for fusion energy, temperatures of over 100 million degrees Celsius (10 keV) and scientific breakeven equivalent, using the company’s uniquely practical MTF technology.
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