Magnetized target fusion using mechanically compressed liquid metal liners. Went public on Nasdaq (GFUZ) on 10 Jul 2026 via SPAC with Spring Valley III (~$1B pro forma) — the first publicly traded pure-play fusion company.
The FIA's 2026 industry report counts a record $4.48B raised by 56 fusion companies in the 12 months to July — up 69% on 2025 — taking cumulative funding to $14.24B (7x since 2021), with 16,000+ employed and all five $1B+ raisers US-based.
General Fusion — General Fusion completed its business combination with Spring Valley Acquisition Corp. III and began trading on Nasdaq as GFUZ (10 Jul 2026) — the first publicly traded pure-play fusion company. The de-SPAC (~$1B pro forma) was backed by a ~$107.5M PIPE plus trust proceeds.
General Fusion and Renexia signed an agreement to pursue fusion-energy deployment in Italy — a first step toward siting commercial capacity there.
General Fusion moved its SVAC SPAC merger toward close alongside a $107.5M PIPE, financing the company as its LM26 machine reached plasma.
Industry tracking put fusion supply-chain spending up 24% from a year earlier — a demand signal across the sector's vendors.
General Fusion — General Fusion's LM26 magnetized-target machine mechanically compressed a magnetized plasma with a lithium liner, tripling electron temperature to ~8.4M°C (0.72 keV) — its first compressional-heating result, a concrete step on the in-progress path to a practical MTF demonstration (1 keV target next). Company-measured; results submitted for peer review.
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Commonwealth Fusion Systems 
Proxima Fusion