Begins trading on Nasdaq under the ticker symbol “GFUZ”
VANCOUVER, British Columbia, July 13, 2026 (GLOBE NEWSWIRE) -- General Fusion Group Ltd. (“General Fusion” or the “Company”) (NASDAQ: GFUZ), a leader in the global race to commercialize fusion energy, today began trading on the Nasdaq under the ticker symbol “GFUZ,” following the completion of its previously announced business combination with Spring Valley Acquisition Corp. III (“Spring Valley”).
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.
“At General Fusion, we are dedicated to our vision of bringing practical, clean, and abundant fusion energy to the world,” said Greg Twinney, Chief Executive Officer of General Fusion. “We bring 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 and grateful to Spring Valley and our shareholders for joining us in our commitment to this mission.”
General Fusion is advancing on multiple fronts, combining real technical progress with growing global recognition, experienced governance, and strategic collaboration:
- Real machines, real results: Over the past two decades, General Fusion has built and operated dozens of testbeds, prototypes, and demonstrations, completing more than 200,000 plasma experiments. This work has culminated in Lawson Machine 26 (“LM26”), the Company’s MTF demonstration machine operating at a commercially relevant scale at its Vancouver facility. General Fusion recently announced significant progress toward its next major technical milestone with LM26, 1 keV electron temperature. The results show meaningful plasma heating to electron temperatures of approximately 8.4 million degrees Celsius, or 0.72 keV, driven by the compression of a plasma with a lithium liner. This is a key indicator of success for the Company’s practical approach to fusion energy.
- Global recognition: General Fusion was recently ranked first on TIME’s prestigious list of the World’s Top GreenTech Companies of 2026 for its leadership in fusion energy.
- Experienced Board of Directors: Building on General Fusion’s seasoned leadership, the Company announced key appointments to strengthen its Board of Directors. Wendy Kei, Board Chair of Ontario Power Generation, serves as Audit Committee Chair. Thomas Boehlert, former CFO of US Strategic Metals, brings more than three decades of experience across the industrial, natural resources, agribusiness, power generation, and energy transition sectors and serves as Chair of the Nominating and Governance Committee. Chris Sorrells, Chairman and CEO of Spring Valley and a former partner at NGP Energy Technology Partners, also joined the Board, bringing more than three decades of experience in the energy and decarbonization sectors.
- Collaboration for fusion deployment: General Fusion and Renexia S.p.A., a Toto Group company specializing in renewable energy, announced a milestone-based framework agreement to collaborate on the potential commercial deployment of the Company’s fusion energy technology in Italy.
Quick Facts:
- 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.
About General Fusion
General Fusion is pursuing a practical approach to commercial fusion energy and is headquartered in Vancouver, Canada. The Company was established in 2002 and has been funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.
