General Fusion to Go Public in $1 Billion SPAC Merger

General Fusion, a Canadian startup specializing in nuclear fusion technology, has announced a merger with the blank-check firm Spring Valley Acquisition Corp. III SV. The transaction, valued at approximately $1 billion, will see General Fusion go public on the Nasdaq under the ticker GFUZ. This move comes as nuclear energy experiences renewed attention in the US US, driven by the increasing electricity demands of AI data centers and broader electrification trends in transportation and manufacturing.

The merger, announced on January 22, 2026, includes $105 million from an oversubscribed private investment in public equity (PIPE) and approximately $230 million from Spring Valley's cash held in trust. General Fusion expects the transaction to close by mid-2026, providing a significant capital influx to advance its magnetized target fusion technology.