General Fusion gets funds to keep 'magnetized target fusion' alive

Canada-based nuclear fusion startup General Fusion has secured $22 million (C$30 million) in new funding, providing a crucial lifeline after a difficult period earlier in 2023 that included layoffs and an open appeal for financial support by CEO Greg Twinney. This investment, led by Segra Capital and PenderFund among others, aims to help the company continue advancing its magnetized target fusion (MTF) technology and move toward commercial fusion energy. Alongside the funding, General Fusion appointed two new board members and emphasized that progress continued despite prior financial challenges. General Fusion is developing its Lawson Machine 26 (LM26), a half-scale prototype fusion reactor using deuterium fuel and electromagnetic compression of a lithium liner, with the goal of achieving scientific breakeven—where net energy output equals input—by 2026. The LM26 employs a magnetic field to contain plasma, which is compressed by steam-driven pistons pressing a liquid lithium wall inward, aiming to reach the conditions necessary for