General Fusion began trading on Nasdaq Monday after completing a SPAC merger, becoming the first nuclear fusion company to go public, with $150M in cash.
Alpha Score of 49 reflects weak overall profile with strong momentum, poor value, moderate quality. Based on 3 of 4 signals – score is capped at 90 until remaining data ingests.
General Fusion became the first pure-play nuclear fusion company to list on a US exchange, starting trading Monday on the Nasdaq under the ticker GFUZ.
The Richmond, B.C.-based company completed its merger with the special purpose acquisition company Spring Valley Acquisition Corp. III, which was redomiciled in British Columbia. General Fusion said after the transaction closed that it holds about $150 million USD ($212 million CAD) in cash. The stock opened at $12.80.
The listing came weeks after Canada published a national nuclear energy strategy that named fusion as one of the next-generation technologies the federal government intends to support. “Canada’s status as a Tier One nuclear nation was built on innovation: the CANDU reactor and successive research reactor deployments,” the strategy document said. “Sustaining that status requires continued investment in … next-generation technologies.”
General Fusion is still pre-revenue and has not yet demonstrated a fusion reaction that produces more energy than it consumes. Since its founding in 2002, the company has raised $400 million. Last year it laid off staff and issued a public plea for additional investment. CEO Greg Twinney has said he joined the company partly to realize potentially enormous financial returns, and partly to make the world a better place for his children.
The company has signed an agreement with Italian energy infrastructure firm Renexia to explore sites for a potential fusion power plant. The goal is to deploy General Fusion’s magnetized target fusion technology in a commercial plant by 2035.
US-based TAE Technologies, another fusion developer, is reportedly aiming to go public later this year.
Drafted by a large language model from the source reporting linked above, then screened by automated publishing checks. It is not read by a journalist before publication. Some articles cite our Alpha Score. Verify prices and figures against the original source. Educational coverage, not personalized advice.