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General Fusion, a Canadian fusion energy pioneer, is set to go public with a valuation of $1 billion following a merger with Spring Valley Acquisition Corp. This merger will establish General Fusion as the world's first publicly traded 'pure-play' fusion energy company.

The deal includes $105 million in PIPE investments and $230 million from Spring Valley's trust capital, primarily aimed at fully financing the Lawson Machine 26 (LM26), a large-scale demonstration machine for Magnetized Target Fusion (MTF). The LM26 employs mechanical pistons to compress plasma in a liquid lithium liner, offering a robust and cost-effective approach to fusion energy.

General Fusion aims to complete the deal by mid-2026. The company has raised over $400 million since its founding and holds more than 210 patents. Other players, like Japan's Helical Fusion, also indicate that commercial fusion energy is becoming more feasible.