The First Publicly Listed Fusion Stock Just Started Trading, and It Did Not Arrive Quietly

General Fusion opens on the Nasdaq under GFUZ, backed by more than 200,000 plasma experiments, a TIME's World Number One GreenTech Company ranking, and a framework deal to deploy fusion power in Italy

Issued on behalf of General Fusion Inc.

VANCOUVER, BC, July 13, 2026 /PRNewswire/ -- Equity Insider News Commentary — General Fusion Group Ltd. (NASDAQ: GFUZ) has begun trading on the Nasdaq under the ticker symbol GFUZ following the completion of its business combination with Spring Valley Acquisition Corp. III. This debut makes General Fusion, by the company's account, the first publicly listed fusion company. It arrives with more substance behind it than the typical pre-revenue listing[1]. Built for Our World sets out the broader vision behind the company.

General Fusion is entering the public markets with approximately US$150 million in cash, inclusive of net transaction proceeds from the private placement and trust capital. This capital is expected to fund General Fusion's Lawson program through several key technical milestones, which the Company aims to complete in 2028, with the goal of demonstrating and de-risking Magnetized Target Fusion ("MTF") technology in a commercially relevant way.

Key Takeaways

• General Fusion is now trading on the Nasdaq under GFUZ after completing its business combination with Spring Valley Acquisition Corp. III.
• The company reports more than 200,000 plasma experiments conducted over two decades, culminating in its LM26 demonstration machine, which recently showed compressional plasma heating.
• General Fusion was ranked first on TIME's list of the World's Top GreenTech Companies of 2026 and has signed a framework agreement to advance fusion deployment in Italy.

General Fusion's Chief Executive Officer, Greg Twinney, has framed the listing as the start of a new chapter built on a long operating history rather than a standing start. The company points to more than twenty years of real-world testing, dozens of testbeds and prototypes, and more than 200,000 plasma experiments as the foundation for its current work[1]. This is General Fusion offers a closer look at that operating history.

That work has converged on Lawson Machine 26 (LM26), the company's large-scale MTFdemonstration machine operating at its Vancouver facility. General Fusion recently reported meaningful plasma heating to electron temperatures of approximately 8.4 million degrees Celsius (roughly 0.72 keV), driven by the compression of a plasma with a lithium liner. The company describes these results, which have been submitted for peer review and are publicly available, as significant progress toward the key 1 keV electron temperature milestone and a validating indicator for its practical approach to fusion[1].

Recognition, Governance, and a Path to Deployment
Beyond the technical results, General Fusion has been accumulating the kind of external validation that public-market investors tend to weigh. The company was ranked first on TIME's list of the World's Top GreenTech Companies of 2026, a recognition of its leadership in fusion energy that landed shortly before its market debut[1].

The company has also strengthened its board of directors by adding experienced governance from the power and energy-transition sectors. In addition, General Fusion has taken concrete steps toward commercial deployment. General Fusion and Renexia S.p.A., a Toto Group company specializing in renewable energy, announced a framework agreement to advance the commercial deployment of General Fusion's fusion energy technology in Italy. This agreement represents an early signal that the company is thinking about where fusion power might actually be sited and sold[1]. The Path to Commercialization details how the company plans to move from demonstration to deployment.

A Market That Has Learned to Underwrite the Long Game
General Fusion joins the public markets at a time when investors have grown more comfortable valuing companies based on the strength of their pipelines, partnerships, and technical milestones rather than near-term earnings. The companies powering, supplying, and paralleling the AI-driven energy buildout offer a useful frame of reference.

NVIDIA (NASDAQ: NVDA) sits at the source of the demand story. Its AI accelerators are driving a new generation of data centers that draw many times more power than their predecessors, putting fresh urgency behind every credible path to abundant clean energy[2]. Vertiv Holdings (NYSE: VRT) supplies the power and cooling infrastructure those facilities depend on, reporting first-quarter 2026 net sales of US$2.65 billion, up 30% year over year on strong data-center demand[3]. GE Vernova (NYSE: GEV) builds the generation and grid equipment behind the buildout, booking US$2.4 billion in data-center equipment orders in its Electrification segment in the first quarter of 2026, more than in all of the prior year[4]. And Rocket Lab (NASDAQ: RKLB), which itself came public through a SPAC business combination, shows how the market has learned to underwrite frontier technology through long development arcs, converting years of technical milestones into record quarterly revenue of just over US$200 million and a contracted backlog above US$2.2 billion while its next-generation Neutron rocket is still in development[5].

None of these companies is a fusion pure-play, and their inclusion here is illustrative rather than comparative in any financial sense. But they help explain why a company like General Fusion can list on the Nasdaq before generating commercial revenue: the market is increasingly willing to price the option value of technologies that, if they work, could reshape the energy system.

For now, General Fusion's task is to keep converting laboratory milestones into public-market credibility. The company has been explicit that meaningful technical hurdles remain, including reaching the 1 keV and 10 keV heating milestones and ultimately achieving the Lawson criterion. With GFUZ now trading, investors can track that progress in real time.

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Company Contact
General Fusion Investor Relations: [email protected]
North America toll-free voicemail: +1 (833) 717-1519 | Outside North America: +1 (236) 253-6968
General Fusion Media Relations: [email protected] | 1-866-904-0995

Sources
[1] General Fusion Group Ltd. - Begins Trading on Nasdaq Under GFUZ (company primary release), syndicated via GlobeNewswire; includes references to LM26 compressional heating results and TIME GreenTech ranking
[2] Bloomberg, How AI Firms Are Redesigning Data Centers to Meet Energy Demand, June 1, 2026 (comparative market context)
[3] Vertiv (VRT) first-quarter 2026 results coverage: net sales of US$2.65 billion, up 30% year over year on data-center demand
[4] GE Vernova First Quarter 2026 Financial Results (company release), April 22, 2026
[5] Rocket Lab First Quarter 2026 Financial Results (company release), May 7, 2026

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This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because a conflict of interest exists due to the compensation described above, individuals are strongly encouraged to not use this publication as the basis for any investment decision. We also expect to receive further compensation as part of an ongoing digital media effort to increase visibility for the company, and no further notice will be given, but let this disclaimer serve as notice that all material disseminated by Market Equities has been reviewed and approved for distribution on behalf of General Fusion Group Ltd. by CDMG; this is a paid advertisement.

Forward-Looking Statements. This publication may contain forward-looking statements within the meaning of applicable securities laws, including statements regarding expected technical milestones, commercialization timelines, business plans, and future performance. Forward-looking statements can often be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "may," "will," "should," "could," or the negative of such terms, or other comparable terminology. These statements are based on current expectations, estimates, and projections and involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such factors include, but are not limited to, risks related to the development and commercialization of fusion technology, the ability to achieve technical milestones, regulatory approvals, market acceptance, competition, and general economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this publication. Neither the company nor any other party undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Readers should conduct their own due diligence before making any investment decisions.

This disclaimer, together with your access to and use of this content, shall be governed by and construed in accordance with the laws of Ireland.

Cautionary Note Regarding Technical Results and Forward-Looking Statements: References to plasma heating results, electron temperatures, and technical milestones are based on General Fusion's own disclosures, including results the company has stated are submitted for peer review. Such results are preliminary in nature and do not guarantee the achievement of subsequent milestones, including the 1 keV or 10 keV heating targets or the Lawson criterion. Commercialization of fusion energy remains subject to substantial scientific, engineering, regulatory, and financial risk.

Cautionary Note Regarding the Business Combination. This article references a business combination among General Fusion Group Ltd. (NASDAQ: GFUZ), Spring Valley Acquisition Corp. III (NASDAQ: SVAC), and General Fusion Inc. Investors should review General Fusion's and Spring Valley's filings with the U.S. Securities and Exchange Commission, including the Current Report on Form 8-K and related materials available at www.sec.gov, for complete information regarding the transaction, associated risks, and the resulting company's securities.

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