General Fusion began trading on the Nasdaq under the ticker GFUZ, becoming the first publicly listed fusion power company. The stock surged 40 percent from its $12.85 opening price on Monday.
The company completed a reverse merger with Spring Valley Acquisition Corp. III last week. Alongside the de-SPAC, General Fusion raised $108 million from private investors, bringing its total cash holdings to roughly $150 million. The company has raised over $600 million since its founding in 2002.
General Fusion’s approach, known as magnetized target fusion, uses electromagnetic fields to create magnetized plasma inside a chamber lined with liquid lithium. Pistons then compress the lithium blanket until atoms fuse and release energy.
The company had hoped to reach breakeven this year using its LM26 device, but funding challenges have pushed the timeline to 2028 or later. General Fusion now targets turning on its first power plant by approximately 2035.
