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Highlights
- General Fusion, a Canadian company that works on commercial fusion energy, is triggering massive interest among investors.
- This week, the British Columbia-based company announced a significant breakthrough on its path to develop practical and commercially feasible fusion energy.
- On Wednesday, January 13, General Fusion was also named as one of the three top Cleantech 100 Companies of 2022.
General Fusion, a Canadian company that works on commercial fusion energy, is triggering massive interest among investors, who cannot seem to stop looking for its stocks.
What has General Fusion done to cause such a strong reaction from investors? Looks like there is more than one reason.
Let us look at some of them.
Why is General Fusion stock trending?
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The British Columbia-based company seems to have attracted investor attention following a significant breakthrough on its path to develop practical and commercially feasible fusion energy.
General Fusion announced on Monday, January 10, that it has succeeded in achieving several “aggressive performance goals” for its Fusion Demonstration Plant’s (FDP) prototype system. This plant can reportedly allow the extreme fusion conditions, which can be as high as 150 million Celsius.
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The company said that its plasma compression prototype, which is based at its laboratory in Vancouver, is being used to determine an important element of its Magnetized Target Fusion (MTF) technology.
On Wednesday, January 13, General Fusion was also named as one of the three top Cleantech 100 Companies of 2022.
Another factor that could have contributed to the buzz around General Fusion is not very recent, but is still quite significant.
In November last year, the fusion power company announced the closure of an oversubscribed Series E funding round worth US$ 130 million.
The financing was headed by a herd of global investors, which included investment firm Temasek, capital market firm GIC, Canada’s Business Development Bank and financial planner Segra Capital.
This funding round was intended to expand the fusion company’s portfolio of important investors and prelude a bigger financing scheduled for 2022.
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Is General Fusion a public company?
As said above, General Fusion is engaged in the business of exploring “the fastest and most practical” way to commercial fusion energy.
Founded in 2002, the company is said to be financed by a worldwide syndicate of energy-focused venture capital firms, tech leaders, etc.
General Fusion is headquartered in Vancouver, Canada, but it has offices in international locations like London, UK, and Oak Ridge, US.
At the moment, General Fusion appears to be a private company, which means its stocks are not trading on public markets.
Bottomline
In the growing space of clean technology and power, fusion energy is a significant candidate. Hence, that could make General Fusion a frontrunner in the commercial fusion power industry in the future.
