General Fusion to List as GFUZ in $1 B SPAC Deal with $108M PIPE
LEU•General Fusion, ranked top GreenTech of 2026 with a 96.68 score, will merge with Spring Valley Acquisition Corp. III to list on Nasdaq as GFUZ at a pro-forma equity value of $1 billion, backed by $108 million PIPE and up to $230 million trust capital. Its LM26 demonstration has operated since early 2025.
1. SPAC Deal Details
The definitive business combination with Spring Valley Acquisition Corp. III implies a $1 billion pro-forma equity value. It includes $108 million from an oversubscribed PIPE and up to $230 million of trust capital, with shareholder and regulatory approvals targeted for mid-2026.
2. Magnetized Target Fusion Progress
General Fusion’s Magnetized Target Fusion approach compresses magnetized plasma mechanically, avoiding lasers or superconducting magnets. Its LM26 demonstration has been operational since early 2025 to validate key technical milestones toward a commercially relevant fusion system.
3. Timeline and Future Outlook
The combined company is expected to list on Nasdaq under the ticker GFUZ, with a record date of June 12 and a shareholder meeting on July 6. Commercial operations are projected around the mid-2030s, pending further technical and regulatory progress.
