General Fusion Raised US$130 Million for Demo Nuclear Fusion Plant Around 2025

At the end of November, 2021, General Fusion announced they had raised $130 Million to build their demonstration nuclear fusion reactor.

The Series E funding round included the Business Development Bank of Canada, the hedge fund Segra Capital Management and several family-office investors.

General Fusion designs from the ground up to enable a practical, commercially-viable power plant. Electricity is generated from the fusion plant by pumping hot liquid metal through a heat exchanger to heat water, which then turns a steam turbine. General Fusion power plants will also be modular, allowing multiple units to energize large cities or heavy industry.

The key components of a Magnetized Target Fusion power plant are the plasma injectors, pistons and liquid metal vortex. Currently, General Fusion is developing and optimizing these components in parallel to accelerate construction of a demonstration power plant.

General Fusion was founded in 2002 with a goal to transform the world’s energy supply by developing the fastest, most practical, and cost-competitive path to commercial fusion power.

In 2006, Dr. Michel Laberge completed proof-of-principle experiments, and with the support of leading venture capital firms, General Fusion began building a team that today is recognized as a global leader in commercial fusion energy. The company has now grown to a team of more than 100 at its world class laboratories in Burnaby, just outside Vancouver, where it is developing the key components of the world’s first fusion power plant.

General Fusion hopes to have a large scale demo plant by 2025 and a commercial fusion system around 2030. The timelines slipped over the decades.

The UK Atomic Energy Authority (UKAEA) and General Fusion will build and operate its Fusion Demonstration Plant (FDP) at UKAEA’s Culham Campus. The FDP will demonstrate General Fusion’s proprietary Magnetized Target Fusion (MTF) technology. Construction starts 2022.

Nextbigfuture interviewed Christofer Mowry, CEO of General Fusion in May, 2018 at the C2 conference in Montreal. Christofer Mowry indicated that General Fusion was working to get funding and complete a 70% scale pilot plant that will prove out the viability of generating electricity from General Fusion’s magnetized target nuclear fusion. He indicated that the scale pilot could be completed around 2023.

General Fusion does not need to demonstrate fusion containment because they are a pulsed power system like a diesel engine or steampunk fusion.

The pilot system will prove three things:
1. Fusion conditions will be repeatably produced
2. There will be a kill chain from neutrons to electrons
3. Economics will be validated.

SOURCES- General Fusion
Written by Brian Wang, Nextbigfuture.com

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