# General Fusion plans $1B SPAC to go public as first pure-play fusion company

_Friday, June 26, 2026 at 11:33 PM EDT · Tech & Business · Latest · Tier 2 — Notable_

![General Fusion plans $1B SPAC to go public as first pure-play fusion company — Primary](https://static.stocktitan.net/company-logo/svac-lg.png?v=fe66132edc)

Spring Valley Acquisition Corp. III disclosed a proposed business combination to take General Fusion Inc. public. The transaction is pursuant to a Business Combination Agreement dated January 21, 2026 and would result in a combined pro forma equity value of approximately $1 billion.

The transaction contemplates a committed PIPE of about $107.7 million. It would use roughly $230 million of Spring Valley's trust capital assuming no redemptions. Closing is targeted in mid-2026.

General Fusion has raised over $400 million to date. The company will use proceeds to advance its LM26 demonstration program toward commercial milestones. The program aims to heat plasma to 1 keV and then 10 keV on a path to the Lawson criterion.

The filing notes customary risks and states that definitive proxy and prospectus materials have been filed on Form F-4. Shareholder approvals and regulatory clearances remain conditions to closing.

## Sources

- [StockTitan](https://www.stocktitan.net/sec-filings/SVAC/425-spring-valley-acquisition-corp-iii-business-combination-communica-cd4f331ca826.html)

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