General Fusion Closes $65M of Series E Financing - Gimv contributes to the search of an answer for a carbon-free energy future

23/01/2020 - 11:39 | Portfolio

16 December 2019 - VANCOUVER, Canada – General Fusion announced that it has successfully closed USD$65 million of Series E equity financing. The financing was led by Temasek, a global investment company headquartered in Singapore.

This USD$65 million of new financing, together with the release of CAD$50 million in additional investment from Canada’s Strategic Innovation Fund, enables the Company to formally launch the program to design, construct, and subsequently operate its Fusion Demonstration Plant. This prototype facility is intended to confirm the performance of General Fusion’s magnetized target fusion technology in a power plant relevant environment. Pursuit of this next important step toward commercially viable fusion energy reflects the growing global collaboration between public and private stakeholders in this transformative technology. General Fusion has attracted more than USD$200 million in funding to develop its practical approach to fusion energy. 

Gimv contributes to the search of an answer to a carbon-free energy future. Read more in the PR.

 

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