General Fusion Announces Closing of Oversubscribed Pre-IPO Funding Round
Accelerating the Path to Practical Fusion Power
Vancouver, British Columbia – November 30, 2021
General Fusion, a leading company in the development of practical fusion power, today announced the closing of an oversubscribed pre-IPO funding round. The round was led by new investors, including Temasek and Moore Strategic Ventures, and saw participation from existing investors including Horizons Ventures, Chrysalix Venture Capital, and Capricorn Investment Group.
The funds raised will be used to accelerate General Fusion's technical progress and bring zero-carbon fusion power to the grid. General Fusion's proprietary Magnetized Target Fusion (MTF) technology is unique in the fusion market, designed to scale for cost-efficient power plants. The MTF approach uses a high-velocity plasma jet to compress a magnetized plasma target, creating the conditions necessary for fusion reactions.
“This funding is a testament to the growing confidence in General Fusion's technology and our ability to deliver practical fusion power,” said Christofer Mowry, CEO of General Fusion. “With this additional support, we are well-positioned to accelerate our progress and bring the benefits of fusion energy to the world.”
Accredited investors can buy pre-IPO stock in companies like General Fusion through EquityZen funds. As the world faces the urgent need for clean and abundant energy, General Fusion's progress towards commercial fusion power is a beacon of hope for a sustainable future.
About General Fusion
General Fusion is a leading company in the development of practical fusion power. Founded in 2002, the company has raised over $200 million in funding and has a team of over 100 scientists, engineers, and technicians. General Fusion's mission is to bring affordable, clean, and safe fusion power to the grid by 2030.
Comments