Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeEnergyInnovationBezos, Lütke-backed B.C. nuclear fusion company eyeing dual TSX-Nasdaq listingNuclear fusion energy, often called the 'holy grail' of clean energy, could become a US$1-trillion market by 2050 You can save this article by registering for free here. Or sign-in if you have an account.General Fusion aims to hit key technical milestones by 2028, which would allow the company to scale up and commercialize its tech into a large-scale, nuclear fusion power plant. Photo by Contributed/General FusionGeneral Fusion Inc. says it is considering a listing on the Toronto Stock Exchange to secure more Canadian investment as the global race to commercialize nuclear fusion energy heats up.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorThe Vancouver-based company, which is developing magnetized target fusion technology — a process that uses mechanical compression to create fusion energy — is set to debut on the Nasdaq as soon as June by merging with Spring Valley Acquisition Corp., a special purpose acquisition company.The deal will give General Fusion US$105 million in public equity investment and US$230 million of Spring Valley’s trust capital, barring redemptions, and values the company at US$1 billion. It will become the first pure-play fusion company to be publicly traded.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“But as we move forward, we’re considering the TSX and a dual-listing type of path, which would hopefully open things up for the Canadian government and Canadian investors to step in a little bit more,” chief executive Greg Twinney said.He said there are “massive” opportunities for homegrown investors. General Fusion’s control room at its Richmond, B.C. Facility. Photo by Contributed/General FusionNuclear fusion energy, often called the “holy grail” of clean energy for its potential ability to generate massive amounts of energy without creating greenhouse gases or radioactive waste, could become a US$1-trillion market by 2050, according to Ignition Research.“We’re a leader in that space, so the opportunity for serious value creation is huge,” he said. “I would like to think Canadian investors see that as well.”But companies still need to figure out how to harness fusion energy. General Fusion aims to hit key technical milestones by 2028, such as heating ionized gases called plasmas to increasingly higher temperatures, eventually 100 million degrees C, to trigger nuclear fusion, which would allow the company to scale up and commercialize its tech into a large-scale, nuclear fusion power plant.“It will recalibrate the industry when we hit these milestones, and we feel pretty confident about our ability to do it,” Twinney said.He said its nuclear fusion plant could come online as soon as 2035 and cost billions of dollars. General Fusion’s Lawson 26 machine at its Richmond, B.C. facility. Photo by Contributed/General FusionGeneral Fusion has raised US$400 million since its founding in 2002, with the Canadian government contributing $69 million. Other investors include the Business Development Bank of Canada, Shopify Inc. co-founder and chief executive Tobias Lütke and Amazon.com Inc. founder Jeff Bezos.But Twinney released an open letter a year ago outlining General Fusion’s “urgent financing constraints” at the time, which led it to lay off around 25 per cent of its staff. The company at the time was seeking US$125 million to stay afloat.Despite the upcoming Nasdaq listing, Twinney said Vancouver “right now continues to be a great place for us to build the company,” even though the market for fusion is worldwide.Scientists in the United States, China and Europe have made recent breakthroughs in nuclear fusion energy and global investment in the sector has jumped to a record US$10 billion.U.S. companies have received the lion’s share of global private investment in fusion, raising around US$7 billion last year, while the Chinese government is annually pumping about US$1.5 billion into its domestic industry. 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