General Fusion Raises $19.5M in Series B Funding

General Fusion, a Burnaby, BC, Canada-based utility-scale fusion power company, has completed a US$19.5m Series B funding round.

Investors include Cenovus Energy, through its Environmental Opportunity Fund, Bezos Expeditions, and existing backers Chrysalix Energy Venture Capital, GrowthWorks, Braemar Energy Ventures, Entrepreneurs Fund, Business Development Bank of Canada, and SET Venture Partners.

The company intends to use the funds to complete the first phase of its development and demonstration program.

Led by CEO Doug Richardson, General Fusion is developing utility-scale fusion power using a new, patent pending concept based on recent developments in Magnetized Target Fusion (MTF).



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