General Fusion debuts on Nasdaq as GFUZ

General Fusion Group Ltd. began trading on the Nasdaq on July 13, 2026, under the ticker symbol GFUZ after completing a business combination with Spring Valley Acquisition Corp. III, a special-purpose acquisition company. The transaction moves the Vancouver-based company into the public equity markets and marks the outcome of its previously announced plan to combine with the blank-check firm.

The company describes itself as the first publicly listed fusion company, giving public equity investors direct exposure to a business focused on commercializing nuclear fusion technology. The Nasdaq listing provides a new capital base and visibility as General Fusion advances its development programs.

Upon entering the public markets, General Fusion reported approximately US$150 million in cash, inclusive of net transaction proceeds from a private placement and funds from the SPAC trust. This cash position reflects the capital raised through the business combination structure and associated financing.

The company plans to deploy this capital primarily to advance its core research and development efforts rather than to fund unrelated acquisitions or diversification. Management has highlighted the Lawson program and the LM26 demonstration machine as the principal uses of the proceeds.

General Fusion intends to use its newly secured funding to progress its Lawson program, which is focused on achieving the conditions required for practical fusion energy. A central element of this effort is LM26, the company’s Magnetized Target Fusion demonstration machine located in Vancouver.

The company is targeting several key technical milestones under the Lawson program by 2028, with the goal of demonstrating and de-risking its Magnetized Target Fusion technology in a commercially relevant manner. Achieving these milestones is presented as a critical step toward validating the company’s fusion approach for future commercial projects.

Recent work on LM26 has focused on increasing plasma electron temperatures using compression driven by a lithium liner. General Fusion reported achieving plasma electron temperatures of approximately 0.72 keV, which it equates to about 8.4 million degrees Celsius.

These results are described as progress toward a next major technical milestone of 1 keV electron temperature. The company views reaching this target as an important indicator of performance for its Magnetized Target Fusion concept and a key objective on the path laid out for the Lawson program.

By becoming a publicly traded entity, General Fusion positions itself as a pure-play fusion company accessible to a broad base of investors. The Nasdaq listing under the GFUZ ticker symbol provides ongoing access to public capital markets as the company works toward its 2028 milestones.

Alongside the technical roadmap, the company has described governance steps typical of a newly public firm, including board appointments and a framework agreement with Renexia S.p.A. for potential future project deployment in Italy. These moves align with its stated objective of advancing Magnetized Target Fusion from demonstration toward eventual commercial applications.