General Fusion closes oversubscribed US$22 million financing; welcomes new Board members

RICHMOND, British Columbia, Aug. 21, 2025 (GLOBE NEWSWIRE) -- General Fusion has closed US$22 million (C$30 million) in new financing to support its LM26 fusion demonstration program and advance its mission to transform the world's energy supply with zero-carbon fusion energy. Investors in this round include Segra Capital, PenderFund (via Pender Growth Fund Inc. (TSX-V:PTF) and Pender Small Cap Opportunities Fund), Chrysalix Venture Capital, MILFAM LLC, JIMCO, the global investment arm of the Jameel family, Gaingels, Thistledown Capital, Presight Capital, and Hatch Ltd. Segra Capital and PenderFund will be represented on the company's Board of Directors by Adam Rodman and Kelly Edmison, respectively. 

Backed by a portfolio of leading institutional, sovereign, family office, and high net worth investors, as well as support from the Canadian government, General Fusion's two decades of extensive fusion research, development, and demonstration have advanced the company's uniquely practical Magnetized Target Fusion (MTF) approach and positioned the company to achieve near-term transformative technical milestones on the path to delivering fusion power to the grid by the mid-2030s. 

At its Canadian facility, General Fusion operates Lawson Machine 26 (LM26)—the industry's first large-scale MTF fusion demonstration machine. Announced in mid-2023, General Fusion designed, built, and began operating LM26 in under two years. The machine is designed to demonstrate MTF at 50% commercial scale and achieve milestones of 10 million degrees Celsius (1 keV), 100 million degrees Celsius (10 keV), and ultimately, scientific breakeven equivalent (100% Lawson).  

New board appointments bolster leadership 

Today, the company also announced the strengthening of its Board of Directors with the appointment of two new members, further deepening its leadership in financing and strategic growth.  

Adam Rodman is ...