First Public Fusion Company
Spring Valley Shareholders Approve Merger with General Fusion, Creating First Public Fusion Company
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Shareholders of Spring Valley Acquisition Corp. III (NASDAQ: SVAC) have voted to approve a merger with General Fusion Inc., paving the way for what is expected to become the world's first publicly traded pure-play fusion energy company, according to Montreal Gazette. The deal is set to close on July 10, 2026, pending final regulatory approvals.
Once the transaction closes, SVAC will be renamed General Fusion Group Ltd. and trade on the Nasdaq under the ticker symbols "GFUZ" and "GFUZW," Financial Post reported. The milestone marks a major step for General Fusion, a Canadian company that has been working to bring commercial fusion energy to market.
General Fusion Goes Public Through SPAC Merger
The deal is structured as a SPAC merger — a method where a shell company already listed on a stock exchange acquires a private firm to take it public. Spring Valley Acquisition Corp. III is that shell company. By merging with SVAC, General Fusion avoids a traditional IPO process and gains direct access to public markets, according to Ottawa Sun.
The combined company will operate under the name General Fusion Group Ltd. The new ticker "GFUZ" will represent common shares, while "GFUZW" will represent warrants. The listing on Nasdaq gives General Fusion a high-profile platform to attract institutional investors, The Province reported.
What General Fusion Actually Does — and Why It Matters
General Fusion is a Canadian company focused on building commercial fusion power plants. Fusion energy works by fusing hydrogen atoms together — the same process that powers the sun. It produces massive amounts of energy with no carbon emissions and very little radioactive waste. The company describes itself as a leader in the global race to commercialize fusion, according to Financial Post.
Unlike nuclear fission — which splits atoms and is used in today's power plants — fusion has long been considered the "holy grail" of clean energy. It promises near-limitless power without the risks of meltdowns. General Fusion's public listing could unlock new funding to accelerate that goal, Sudbury Star noted.
Closing Still Requires Regulatory Sign-Off
The shareholder vote is a key hurdle cleared, but the deal is not yet final. The transaction still needs regulatory approvals and must satisfy all remaining closing conditions before it takes effect. The expected closing date is July 10, 2026, The Province reported.
Until those conditions are met, SVAC will continue to trade under its current ticker on the Nasdaq. Investors and industry watchers are now focused on whether the regulatory process will proceed smoothly and on schedule, according to Ottawa Sun.
A First for the Fusion Energy Industry
If the deal closes as planned, General Fusion Group Ltd. would be the first pure-play fusion company to trade on a public stock exchange anywhere in the world. No other fusion startup has yet reached this stage. The move reflects growing investor interest in next-generation clean energy technologies, according to Financial Post.
Several well-funded rivals — including Commonwealth Fusion Systems and TAE Technologies — remain private. Going public could give General Fusion a competitive edge in raising capital to build and test its technology. The fusion energy sector has attracted billions in private investment over the past five years, Northern News noted.
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