MDAC

General Fusion building a global market for fusion energy with industry leaders

Retrieved on: 
Monday, April 4, 2022
Adoption, Business development, Fraunhofer Institute for Systems and Innovation Research ISI, Economics, Congress, Power, DNA, MDAC, Tennessee Valley Authority, Growth, E.ON UK, UK Atomic Energy Authority Constabulary, Fusion, Plant, General manager, CEO, Carbon, General Fusion, Government, Electricity, Magnetized target fusion, Innovation, Technology, Goal, GLOBE, TVA, General officer, Policy, Partnership, Renewable energy, Lithium

VANCOUVER, British Columbia, April 04, 2022 (GLOBE NEWSWIRE) -- General Fusion announced today the formation of a unique Market Development Advisory Committee (MDAC) to guide the development of its commercial fusion power plant. MDAC members include utilities serving millions of customers, innovative renewable energy providers, and companies leading the decarbonization of heavy industry. These companies span global markets in need of carbon-free, on-demand power to meet increasingly ambitious net-zero carbon emission policy goals. Many bring extensive expertise in evaluating, deploying, and operating commercial power generation assets.

Key Points: 
  • Now is the time to develop the global market for fusion energy.
  • Our Market Development Advisory Committee will help guide General Fusion in addressing this need using a partnership and collaboration strategy.
  • We look forward to working together with General Fusion on the practical application of fusion energy in heavy industry.
  • That is why we have joined General Fusions international committee, to support bringing clean fusion energy technology to market.

General Fusion closing oversubscribed $130 million transitional financing round

Retrieved on: 
Tuesday, November 30, 2021
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VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- General Fusion announced today it is closing an oversubscribed $130 million (USD) Series E funding round filled by a new syndicate of global investors.

Key Points: 
  • VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) -- General Fusion announced today it is closing an oversubscribed $130 million (USD) Series E funding round filled by a new syndicate of global investors.
  • Combined with broad financial support from the Canadian, U.K., and U.S. governments, the General Fusion Series E round supports aggressive pursuit of several near-term initiatives and milestones in its program to commercialize Magnetized Target Fusion (MTF).
  • Collectively, the expansion of General Fusions investor base in this Series E financing provides a strong foundation for a larger financing next year, said Greg Twinney, CFO, General Fusion.
  • Furthermore, General Fusion has created a Market Development Advisory Committee (MDAC) focused exclusively on fusion.