Burnaby’s General Fusion has gone public.
Shares in the energy firm, which now trades on the NASDAQ under the ticker symbol GFUZ, popped 15% on launch.
General Fusion enters the public markets with approximately US$150 million in cash, according to a statement, following a business combination with Spring Valley Acquisition Corp.
That capital is expected to fund General Fusion’s Lawson program through several key technical milestones, which the company aims to complete in 2028, with the goal of demonstrating Magnetized Target Fusion technology in a commercially viable manner.
Fusion technology has been described by General Fusion as “nature’s ultimate energy source,” an incredibly dense energy source that powers the sun and the stars.
General Fusion is a member of the BC Tech Association.
BC Tech is the largest member-led technology non-profit in British Columbia, and we’re dedicated to turning startups and scaleups into the anchor companies of tomorrow. Our work supports members to grow and diversify their talent pool, acquire new customers, access capital and accelerate their scaleup journey. Technology is a key industry for BC’s future and builds resiliency in every industry. Today, every company is a tech company. Join now.
“At General Fusion, we are dedicated to our vision of bringing practical, clean, and abundant fusion energy to the world,” remarked Greg Twinney, Chief Executive Officer of General Fusion.
Founded in 2002, Twinney notes how the company brings “more than 20 years of real-world testing, demonstration, and results to the development of commercial fusion energy.”
“We are excited about this next chapter,” the CEO stated.
Over the past two decades, General Fusion has built and operated dozens of testbeds, prototypes, and demonstrations, completing more than 200,000 plasma experiments—work that culminated in the flagship Lawson Machine 26.
LM26 aims to achieve fusion in a practical and economical fashion, avoiding superconducting magnets and high-powered lasers while enabling the use of existing materials for durable machines.
General Fusion was recently named the world’s top green technology company.
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