Today's News

Richmond, BC, February 13, 2023--(T-Net)--General Fusion is asking the Canadian government for $335-million in funding to support its commercialization strategy, and is listed as one of the world's top commercial players in fusion energy, according to a feature article on Fusion Energy and original reporting from the Globe and Mail.

General Fusion indicated in a Globe and Mail article released Friday that the funding could be part of a larger government investment in a Canadian fusion hub, and that it has gathered industry and academic support for the idea in advance of the coming federal budget.

This comes over 20 years since the company's founder, renowned Canadian physicist Dr. Michel Laberge, set out to develop a commercially viable approach to fusion energy. From the beginning, General Fusion says it has focused on creating a practical energy solution to meet the urgent need for carbon-free electricity.

General Fusion Forges Ahead on Its Unique Magnetized Target Fusion Technology With the Fabrication of an at-Scale Fusion Vessel Trial Ring

T-Net readers will recall that General Fusion closed a major $130 million (USD) Series E funding round filled by a new syndicate of global investors a little over a year ago in December 2021. This financing, led by Temasek, significantly expanded the company's portfolio of institutional, sovereign, family office, and high net worth investors.

The company has also had broad financial support from the Canadian, U.K., and U.S. governments, and raised over $300 million to date, according to sources.

Greg Twinney, CEO, General Fusion

The company also brought on a new CEO Greg Twinney last year in July 2022.

See the Globe and Mail's feature article on Fusion Energy commercialization and full reporting on this story here.

General Fusion is currently building a demonstration plant (pictured above) at the United Kingdom Atomic Energy Authority's (UKAEA) Culham Campus and construction is expected to start this summer. When construction of the 10,500 m2 building is complete, General Fusion will lease the building from UKAEA.

The company's fusion machine is expected to be commissioned in 2026 and fully operational by early 2027.

Plasma Injector (Pictured Above): 24 prototypes and 200,000 plasma experiments helped General Fusion build the world's largest and most powerful operational fusion plasma injector

Compression System (Pictured): With their scalable control systems, General Fusion say they have achieved the required timing precision with full-scale drivers to produce smooth, rapid, and symmetric compression of a liquid metal cavity

Built to 70 per cent scale of a commercial power plant, the demonstration will create fusion conditions in a power plant-relevant environment, achieving temperatures of over 100 million degrees Celsius.

This is a crucial step on the path to eventually powering homes, businesses and industry with zero-carbon fusion energy, according to the company. 

About General Fusion

General Fusion is pursuing a fast and practical approach to commercial fusion energy and is based in Vancouver, Canada, with locations in London, UK, and Oak Ridge, Tennessee, USA. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.