One of Canada’s leading purveyors of fossil fuels, oil sands company Cenovus Energy Inc. , is placing a bet on a sci-fi energy source in hopes that nuclear fusion can one day help squeeze bitumen out of Fort McMurray.
The company is making a $4-million investment in General Fusion, a Burnaby, B.C.-based startup that on Thursday announced $19.5-million in new development capital, including some from Bezos Expeditions, the personal investment company of Amazon.com founder Jeff Bezos.
General Fusion ranks among Canada’s most ambitious small companies, with a goal to create a new energy source that could have global application.
“This is the holy grail of energy,” said founder Michel Laberge. “In 100 years, the whole planet will run on fusion.”
Fusion Lightweight Gets a Boost From Heavyweight Investors (The Globe and Mail)