General Fusion Group, a leader in the global race to commercialize fusion energy, announced the successful completion of the previously announced business combination between Spring Valley Acquisition Corp. III, a publicly traded special purpose acquisition company, and General Fusion Inc.
General Fusion is entering the public markets with approximately US$150 million in cash, inclusive of net transaction proceeds from the private placement and trust capital, to advance its practical fusion energy technology. This 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 and de-risking its Magnetized Target Fusion (“MTF”) technology in a commercially relevant way.
With the business combination now closed, the Company’s shares and warrants are expected to begin trading on Nasdaq under the ticker symbols “GFUZ” and “GFUZW,” respectively.
General Fusion is developing a practical path to fusion power that can help address major challenges, from climate change and energy security to powering AI and data centers. The Company’s MTF technology is designed from the ground up with a practical power plant in mind to address critical barriers to commercialization and enable integration with existing power plant infrastructure. Today, General Fusion operates Lawson Machine 26 (“LM26”), the first MTF demonstration machine built at a commercially relevant scale and designed to achieve key technical milestones on the path to fusion commercialization.
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- General Fusion’s MTF is designed to solve significant barriers to commercializing fusion energy at a time when electricity demand is surging and nations around the world are racing to commercialize fusion power.
- As a technology, MTF aims to achieve fusion in a practical and economical way, avoiding superconducting magnets and high-powered lasers while enabling the use of existing materials for durable machines.
- In early 2025, General Fusion announced that it had designed, built, and begun operating its LM26 fusion demonstration machine in under two years. LM26 is the first MTF demonstration machine to be built at a commercially relevant scale. It mechanically compresses plasma with a lithium liner at 50% commercial-scale diameter, based on current design parameters.
- LM26 aims to achieve key fusion technical milestones: plasma heating to 1 keV (10 million degrees Celsius), then 10 keV (100 million degrees Celsius), and ultimately the Lawson criterion, the combination of fusion parameters that can produce net fusion energy in the plasma.
SOURCE: General Fusion