The B.C.-based experimental energy company raised the money from a large group of investors, including existing stakeholders Segra Capital and PenderFund. Segra founder Adam Rodman and PenderFund founder Kelly Edmison are both taking board seats. It’s “a new day” for General Fusion, CEO Greg Twinney wrote in his announcement, allowing the company to “return to growth and continue to progress toward commercial fusion energy.” (The Logic)
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The B.C.-based experimental energy company raised the money from a large group of investors, including existing stakeholders Segra Capital and PenderFund. Segra founder Adam Rodman and PenderFund founder Kelly Edmison are both taking board seats. It’s “a new day” for General Fusion, CEO Greg Twinney wrote in his announcement, allowing the company to “return to growth and continue to progress toward commercial fusion energy.” (The Logic)
Talking point: Nuclear fusion promises to generate power by mimicking the atom-melding inside stars, though humans have been able to do it only experimentally so far. The new financing was announced two and a half months after Twinney revealed that General Fusion was short of money to prove that its technology can be commercially viable. The company had already retrenched, scrapping plans for a $400-million plant in the U.K. (for which it raised a US$130-million round in 2021 and intended to raise more) in favour of a smaller demonstration machine in B.C.
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