Struggling fusion power company General Fusion to go public via $1B reverse merger

General Fusion, a fusion power startup founded in 2002, has announced plans to go public via a $1 billion reverse merger with the special purpose acquisition company (SPAC) Spring Valley, alongside additional institutional investments. This move marks a significant turnaround for the company, which faced financial struggles and layoffs last year. If the deal closes as expected, General Fusion could secure up to $335 million, more than doubling its previous fundraising goals. The funds will be used to complete its demonstration reactor, LM26, which employs a unique inertial confinement approach using steam-driven pistons and liquid lithium metal to compress fuel pellets, aiming to achieve scientific breakeven by 2026 without relying on costly lasers or superconducting magnets. The merger with Spring Valley, a SPAC experienced in energy sector deals, follows a trend of fusion companies going public, such as TAE Technologies. General Fusion highlights the growing energy demands driven by data centers, electric vehicles, and electrification trends that could increase electricity consumption by