Additional capital accelerating completion of Fusion Demonstration Plant
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Combatting climate change while powering the world is one of the greatest challenges of the 21st century. Fusion energy has the potential to meet this challenge with clean, safe, affordable, and on-demand energy. A commercial fusion power plant will make a 100% zero carbon grid technically and economically viable, resulting in a practical energy portfolio that addresses climate change.
General Fusion has developed the key subsystems for its unique technology, including the world’s largest and most powerful plasma injector, and is now embarking on its most ambitious project to date: a fusion demonstration plant that will confirm the capability to produce electricity from fusion energy – a world first.
Since its founding in 2002 by Dr. Michel Laberge, the company has grown to a team of more than 70 engineers, scientists, physicists, and business development professionals at its world-class laboratories near Vancouver, Canada.
Global energy demand and the threat of climate change pose twin challenges on a grand scale. The International Energy Agency forecasts that by 2040, China will need an additional 3 to 4 thousand terawatts of electricity supply, the equivalent of adding the entire existing US electrical grid.
Electricity demand is the fastest form of energy use and will be pushed further by electric vehicles and the move to electric heating.
One of the climate goals in the Paris Agreement is to keep a global temperature rise well below 2 degrees Celsius above pre-industrial levels and to pursue efforts to limit the temperature increases over 1.5 degrees Celsius. To keep up the climate goals in the Paris Agreement, new technologies are needed to safely and economically deliver clean energy on-demand.
Newly matured enabling technologies such as 3D printing, machine learning and high-speed electronics are now opening innovative new pathways to commercial fusion energy.
Fusion has the potential to provide, clean, safe, affordable, and on-demand energy and complement renewables like wind and solar while replacing fossil fuels.
General Fusion is the only private fusion company working towards an end-to-end fusion demonstration plant that will confirm the capability to produce electricity from fusion energy.
General Fusion is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers.
2002: General Fusion is founded by Dr. Michel Laberge
2009: Full-scale piston system successfully tested
2011: Multi-piston liquid metal compression prototype tested
2013: Plasma Milestone: Small Plasma Injector program achieves 1 million Celsius plasma temperatures
2014: General Fusion is named to the Cleantech Global 100, an award repeated in 2015 and 2016/17
2015: New SPECTOR series small plasma injector is constructed
2016: Plasma Milestone: SPECTOR injectors achieve pre-compression temperatures of 5 million Celsius
2017: General Fusion turns on PI3, the world’s largest and most powerful plasma injector
2018: General Fusion receives $49.3 million investment from the Government of Canada’s Strategic Innovation Fund
2019: General Fusion closes a $65 million USD Series E financing round, enabling the company to formally launch the program to design, construct, and operate its Fusion Demonstration Plant
Christofer M. Mowry, Chief Executive Officer & Director – has over 30 years of global experience in the energy and infrastructure sectors, including power, oil & gas, automation, and process industries.