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General Fusion Inc. raised $14.6 million in a Series F round led by Canadian government agencies to advance nuclear fusion technology.

Aug 08, 2024•12 months ago

Amount Raised

$14.6 Million

Round Type

series f

RichmondRenewables & Environment

Investors

Business Development Bank Of CanadaCanadian Nuclear Laboratories

Description

General Fusion Inc. raised C$20 million ($14.6 million) from two Canadian government agencies to help advance technology that may eventually harness the energy of the stars in a commercial power plant. The funding will play a crucial role in the company's development efforts.

Company Information

Company

General Fusion

Location

Richmond, Texas, United States

About

General Fusion pursues a fast, efficient, and collaborative path to practical fusion power. We are completing an aggressive development plan to deliver economical carbon-free fusion energy with our proprietary Magnetized Target Fusion technology by the 2030s. Our mission is supported by a global syndicate of leading institutional investors, venture capital firms, and technology pioneers, together with governments across North America and Europe. General Fusion collaborates with a global network of partners to create a sustainable future built on cleaner energy, better materials, and a comprehensive life cycle approach to the world’s infrastructure. Founded in 2002, we are headquartered in Vancouver, Canada, with additional centers co-located with internationally recognized fusion research laboratories near London, UK, and in Oak Ridge, Tennessee, USA.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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