General Fusion becomes first publicly traded fusion energy company, begins trading on Nasdaq
General Fusion began trading on Nasdaq as “GFUZ” on July 13, 2026, becoming the first publicly listed pure-play fusion energy company.
Photo by Vadym Alyekseyenko on Pexels
General Fusion Group Ltd., a Vancouver-based fusion energy developer, began trading on the Nasdaq under the ticker “GFUZ” on July 13, 2026, the company announced, following completion of its business combination with Spring Valley Acquisition Corp. III. The General Fusion Nasdaq listing makes it the first publicly traded, pure-play fusion energy company, a milestone in the effort to bring commercial fusion power to the grid.
Shareholders of Spring Valley approved the combination on July 6, 2026, and the deal closed on July 10, 2026. General Fusion enters public markets with approximately US$150 million in cash, including net proceeds from a private placement and trust capital, according to the company’s July 13 announcement. The deal valued General Fusion at roughly US$1 billion.
What the General Fusion Nasdaq listing funds
The new capital is intended to fund General Fusion’s “Lawson program” through several technical milestones the company aims to reach by 2028, with the goal of demonstrating and de-risking its Magnetized Target Fusion (MTF) technology at a commercially relevant scale. “At General Fusion, we are dedicated to our vision of bringing practical, clean, and abundant fusion energy to the world,” said Greg Twinney, the company’s chief executive. “We bring more than 20 years of real-world testing, demonstration, and results to the development of commercial fusion energy.”
MTF is designed to reach fusion conditions without the superconducting magnets used in tokamak reactors or the high-powered lasers used in inertial-confinement approaches, instead mechanically compressing plasma with a lithium liner inside existing, off-the-shelf materials.
LM26 and two decades of testing
General Fusion says it has built and operated dozens of testbeds, prototypes and demonstrations over more than 20 years, completing more than 200,000 plasma experiments. That work led to Lawson Machine 26 (“LM26”), the company’s MTF demonstration machine operating at its Vancouver facility at roughly half of commercial-scale diameter, based on current design parameters. LM26 is intended to reach plasma heating of 1 keV (10 million degrees Celsius), then 10 keV (100 million degrees Celsius), and ultimately the Lawson criterion, the combination of fusion parameters needed to produce net fusion energy in the plasma. The company recently reported plasma heating to about 8.4 million degrees Celsius, or 0.72 keV, achieved by compressing plasma with a lithium liner.
| Detail | Value |
|---|---|
| Ticker | Nasdaq: GFUZ |
| Trading began | July 13, 2026 |
| Business combination partner | Spring Valley Acquisition Corp. III |
| Deal valuation | Approximately US$1 billion |
| Cash entering public markets | Approximately US$150 million |
| Founded | 2002, Vancouver, Canada |
| Technology | Magnetized Target Fusion (MTF) |
| Demonstration machine | Lawson Machine 26 (LM26) |
| Latest reported plasma heating | About 8.4 million°C (0.72 keV) |
| Technical milestone target | 2028 |
Source: General Fusion, July 13, 2026.
Board changes and an Italian collaboration
Alongside the listing, General Fusion named new additions to its board of directors: Wendy Kei, board chair of Ontario Power Generation, becomes audit committee chair; Thomas Boehlert, former chief financial officer of US Strategic Metals, chairs the nominating and governance committee; and Chris Sorrells, chairman and chief executive of Spring Valley and a former partner at NGP Energy Technology Partners, also joined the board.
The company was also ranked first on TIME’s list of the World’s Top GreenTech Companies of 2026, and it has a milestone-based framework agreement with Renexia S.p.A., a Toto Group renewable energy company, to explore commercial deployment of its fusion technology in Italy. Fusion’s promise of near-continuous, low-carbon power has drawn growing investor interest as electricity demand rises, a dynamic also visible in the AI-driven revival of nuclear energy investment.
Background on General Fusion
General Fusion was established in 2002 in Vancouver, Canada, and has been funded by a global syndicate of energy venture capital firms, industry leaders and technology pioneers. Over more than two decades, the company built successive generations of MTF test machines before completing LM26, its first demonstration machine built at a commercially relevant scale, which it designed, built and began operating in under two years after starting in early 2025. Unlike approaches built around superconducting magnets or high-powered lasers, General Fusion’s MTF method is designed to use conventional materials that the company argues can shorten the path to a durable, cost-competitive commercial reactor. The Nasdaq listing gives the company public capital to carry that approach through its next plasma-heating milestones toward 2028.
Sources: General Fusion (GlobeNewswire); StockTitan
Featured image: photo by Vadym Alyekseyenko on Pexels (free Pexels license).
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I specialize in sustainability education, curriculum co-creation, and early-stage project strategy. At WINSS, I craft articles on sustainability, transformative AI, and related topics. When I’m not writing, you’ll find me chasing the perfect sushi roll, exploring cities around the globe, or unwinding with my dog Puffy — the world’s most loyal sidekick.
