General Fusion Becomes First Fusion Power Company to Go Public

General Fusion Group Ltd became the first company solely focused on fusion power to go public when it commenced trading on the Nasdaq under the ticker GFUZ on July 13, 2026. The company reached the public market through a business combination with the special purpose acquisition company Spring Valley Acquisition Corp. III, which closed on July 10.

The stock experienced a volatile debut, opening at $12.80 USD and reaching highs of nearly $15 USD, though reports indicate it closed at $11. Due to heavy investor redemptions during the SPAC process, General Fusion secured approximately $150 million in cash, falling short of a potential $335 million.

General Fusion will use the funds to support its Lawson program and the development of Magnetized Target Fusion technology. The company aims to complete its Lawson Machine 26 program by the end of 2028 and intends to operate a commercial power plant by 2035. This goal is supported by a framework agreement with Renexia S.p.A. to explore commercial deployment in Italy.

The transition follows technical progress at the company's Vancouver facility, where the Lawson Machine 26 recently demonstrated plasma heating to approximately 8.4 million degrees Celsius. Executives stated the listing provides the capital and investor access necessary to move fusion from scientific research toward commercial deployment to meet global electricity demands driven by artificial intelligence and electrification.