British Columbia-based General Fusion on Friday completed its deal to become the first publicly traded fusion stock. The 24-year-old company is trying to harness the atom-smashing reactions that power the sun, aiming to create commercially viable amounts of electricity — a feat no one has yet accomplished.
- General Fusion has closed its merger with Spring Valley Acquisition Corp. III, allowing it to go public through a special purpose acquisition company, or SPAC.
- Its shares are expected to begin trading on the Nasdaq exchange Monday under the ticker symbol GFUZ, and its warrants under GFUZW.
- General Fusion and Spring Valley first announced the $1 billion agreement in January, months after layoffs and a public plea by its CEO for new investment.
- Last month, the company announced a partnership with energy infrastructure company Renexia to begin planning commercial deployment of its clean energy systems in Italy, though significant technical hurdles remain.
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