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generalfusion General Fusion Provides First Public Company Business Update August 18 , 2026 Entered the Public Markets with ~ US $ 150 Million in Cash to Advance Fusion Development and Demonstrate Commercially Relevant Magnetized Target Fusion Capabilities VANCOUVER , British Columbia , Aug. 18 , 2026 ( GLOBE NEWSWIRE ) -- General Fusion Group Ltd. ( NASDAQ : GFUZ ) ( " General Fusion " or the " Company " ) , a leader in the global race to commercialize fusion energy , will provide a business update today and highlight recent progress across its technology and commercial initiatives . General Fusion became the first publicly listed fusion company following its July 2026 listing on Nasdaq under the ticker symbol " GFUZ . " Operational Highlights • Financial Position : Following completion of its business combination with Spring Valley Acquisition Corp. III , General Fusion entered the public markets with approximately US $ 150 million in cash , inclusive of net transaction proceeds from the private placement and trust capital , to advance its practical fusion energy technology . The Company expects this capital to fund its Lawson Machine 26 ( " LM26 ” ) program across several planned technical milestones through the end of 2028 . • Technology : General Fusion recently announced significant progress toward its next major technical milestone with the LM26 program . The Company successfully demonstrated plasma heating to approximately 0.72 keV ( 8.4 million degrees Celsius ) using compression of a plasma with a lithium liner , representing important progress toward its near - term objective of achieving 1 keV , followed by 10 keV and ultimately the Lawson criterion , the combination of plasma parameters that can produce net fusion energy in the plasma . • Commercial : General Fusion announced a milestone - based framework agreement with Renexia S.p.A. , a Toto Group company , to collaborate on the potential commercial deployment of the Company's fusion energy technology in Italy . This agreement represents another step in expanding relationships ahead of future commercialization . • Strategic Partnerships : General Fusion expanded its technology ecosystem through a collaboration with General Atomics Energy Group to advance plasma diagnostics capable of measuring temperatures exceeding 10 keV , equivalent to approximately 100 million degrees Celsius , during the second phase of the LM26 program . " Our listing on Nasdaq marks an important milestone for General Fusion and the broader fusion industry , " said Greg Twinney , Chief Executive Officer of General Fusion . " We believe fusion is approaching an important inflection point . Decades of advances in plasma physics , high - performance computing , advanced manufacturing , and digital controls have converged with rapidly growing global demand for clean , reliable baseload power , creating the conditions for fusion to transition from scientific promise toward commercial reality . " Twinney continued , “ General Fusion was built for this moment . Our Magnetized Target Fusion approach is designed to deliver practical , clean , and abundant fusion energy through a simpler machine architecture that leverages existing industrial materials and supply chains while avoiding many of the cost and complexity challenges relied upon by other fusion technologies . Over more than two decades , we have systematically advanced that approach through real - world testing on increasingly sophisticated demonstration systems and published peer - reviewed scientific results . We believe this disciplined , engineering - driven strategy positions us to reduce technical risk while advancing toward the commercialization of practical fusion energy . " Twinney added , " We recently announced meaningful progress toward our next major technical milestone with LM26 , expanded our commercial ecosystem through our framework agreement with Renexia , strengthened our technology partnerships via our collaboration with General Atomics , and entered the public markets with approximately US $ 150 million to fund our LM26 program through several key technical milestones by the end of 2028. " Twinney concluded , " We believe the industry's next chapter will be defined by disciplined technical and commercial execution . Our priorities are clear : continue achieving measurable technical milestones , expand our commercial partnerships , strengthen our supply chain capabilities , and build the foundation for the deployment of our first - of - a - kind fusion plant by approximately 2035. We look forward to demonstrating our progress to shareholders as we execute against that roadmap . " Looking Ahead General Fusion remains focused on executing its staged commercialization roadmap . Near - term priorities include : • Achieve the 1 keV plasma electron temperature milestone . • Advance toward 10 keV and ultimately the Lawson criterion , supporting the Company's objective of demonstrating commercially relevant fusion conditions . • Expand commercial , supply chain development , and strategic partnerships across energy , industrial , engineering , and technology ecosystems . • Enable the successful siting of future demonstration and commercial - scale fusion energy systems that support technical