Canadian nuclear fusion company General Fusion Inc. is set to go public through a reverse merger with Spring Valley Acquisition Corp. III, a special-purpose acquisition company. The agreement gives the combined entity an equity valuation of approximately $1 billion.
The transaction is expected to provide General Fusion with significant capital to advance its Magnetized Target Fusion (MTF) technology. The proceeds will be used to fund its LM26 demonstration program, with the goal of developing a commercial power plant by the mid-2030s. The deal is anticipated to close in mid-2026, after which the new company will trade on the Nasdaq.