Spring Valley Acquisition Corp. III Shareholders Approve Business Combination with General Fusion

Spring Valley Acquisition Corp. III (“Spring Valley” or “SVAC”) (NASDAQ: SVAC) today announced that its shareholders have approved the previously announced business combination with General Fusion Inc. (“General Fusion” or the “Company”), a leader in the global race to commercialize fusion energy. General Fusion securityholders also voted to approve the transaction at a special meeting held on July 6, 2026. The approval represents another significant milestone toward completing the transaction and advancing General Fusion’s uniquely practical Magnetized Target Fusion (“MTF”) technology, which has the potential to deliver zero-carbon, baseload power in a cost-competitive way. This comes at a critical time as demand for electricity surges and nations around the world race to commercialize fusion power. The closing of the transaction is expected to occur on or about Friday, July 10, 2026, subject to regulatory approvals and the satisfaction or waiver of all closing conditions. At the closing, Spring Valley will be renamed “General Fusion Group Ltd.” Shortly thereafter, the combined company’s shares and warrants are expected to trade on the Nasdaq under the ticker symbols “GFUZ” and “GFUZW,” respectively, subject to approval of its listing application. “The expected closing of this transaction represents a major step in the General Fusion journey, building on more than 20 years of technology development and leadership in the industry,” said Greg Twinney, Chief Executive Officer of General Fusion.