Overview

• General Fusion achieved a significant breakthrough on April 29, successfully compressing magnetized plasma with its LM26 demonstration machine in Richmond, British Columbia.
• The company has laid off 25% of its staff and reduced operations due to a critical funding shortfall, jeopardizing its progress toward scientific break-even.
• General Fusion is seeking $125 million in new funding from private and government partners to achieve 100-million-degree plasma temperatures necessary for fusion ignition.
• CEO Greg Twinney highlighted a challenging economic and geopolitical climate as a barrier to securing additional capital, with investors showing increased caution.
• The company plans to re-engage with the Canadian federal government and explore strategic partnerships to sustain its position in the global fusion energy race.