General Fusion's $1B SPAC Deal Includes $108M PIPE, Nasdaq Listing as GFUZ
SMR•General Fusion, ranked the world’s top GreenTech company with a 96.68 score, plans to merge with Spring Valley Acquisition Corp. III to list as "GFUZ" on Nasdaq. The $1 billion pro-forma equity deal includes $108 million in committed PIPE financing and up to $230 million of trust capital, targeting mid-2026 close.
1. SPAC Merger Details
General Fusion has agreed to merge with Spring Valley Acquisition Corp. III in a transaction implying a $1 billion pro-forma equity value. The deal features $108 million of committed and oversubscribed PIPE financing alongside up to $230 million of trust capital, assuming no redemptions, and is set to close by mid-2026, subject to approvals.
2. GreenTech Ranking and Nasdaq Listing
On June 9, 2026, General Fusion secured the top spot on a global GreenTech ranking with a 96.68 score. The combined company will trade on Nasdaq under the ticker GFUZ, marking the first pure-play fusion energy developer to enter public markets.
3. Magnetized Target Fusion Technology
General Fusion’s Magnetized Target Fusion approach uses mechanical compression of magnetized plasma, avoiding both superconducting magnets and high-powered lasers. Its LM26 demonstration machine has been operational since early 2025, providing hardware proof points on the path toward commercial fusion energy by the mid-2030s.
