General Fusion has officially started trading on the Nasdaq under the ticker GFUZ, becoming the first fusion power company to list publicly. The debut quickly drew investor attention, with the stock rising sharply in early trading.
The company completed its merger with Spring Valley Acquisition Corp. III last week, following an announcement earlier this year that it would go public through a reverse merger. The structure of the deal means the final cash outcome may be lower than initially expected, but General Fusion says it now holds about $150 million in cash after combining the transaction with $108 million from private investors.
Founded in 2002, General Fusion is one of the longest-running names in the fusion energy field and has raised more than $600 million from private backers over time. Its technology, known as magnetized target fusion, uses electromagnetic fields to form superheated plasma inside a chamber surrounded by liquid lithium, which is then compressed to trigger fusion.
The company has said its timeline for key milestones has shifted, with its first power plant now targeted for around 2035. Even so, its public listing marks a notable step for the fusion sector, bringing one of the industry's most established players into the market spotlight. This move could help shape how next-generation clean energy companies finance and scale their ambitions in the years ahead.