General Fusion Completes Business Combination with Spring Valley Acquisition Corp. III

General Fusion Group Ltd. (“General Fusion” or the “Company”), a leader in the global race to commercialize fusion energy, today announced the successful completion of the previously announced business combination between Spring Valley Acquisition Corp. III (“Spring Valley” or “SVAC”), a publicly traded special purpose acquisition company, and General Fusion Inc. General Fusion is entering the public markets with approximately US$150 million in cash, inclusive of net transaction proceeds from the private placement and trust capital, to advance its practical fusion energy technology. This capital is expected to fund General Fusion’s Lawson program through several key technical milestones, which the Company aims to complete in 2028, with the goal of demonstrating and de-risking its Magnetized Target Fusion (“MTF”) technology in a commercially relevant way. With the business combination now closed, the Company’s shares and warrants are expected to begin trading on Nasdaq under the ticker symbols “GFUZ” and “GFUZW,” respectively, on July 13, 2026. General Fusion is developing a practical path to fusion power that can help address major challenges, from climate change and energy security to powering AI and data centers. The Company's MTF technology is designed from the ground up with a practical power plant in mind to address critical barriers to commercialization and enable integration with existing power plant infrastructure. Today, General Fusion operates Lawson Machine 26 (“LM26”), the first MTF demonstr...