Canadian fusion startup raises $22 million to hit key milestones
Canadian startup General Fusion just raised $22 million from investors like Segra Capital, PenderFund, and Chrysalix Venture Capital.
While it's less than their $125 million goal, the cash will help them hit key milestones for their experimental fusion device.
General Fusion's fusion approach
General Fusion is working on magnetized target fusion—basically, using steam-powered pistons to squeeze plasma inside a liquid lithium liner and spark fusion.
Their main project, Lawson Machine 26 (LM26), was commissioned in March 2025 at half commercial scale and aims to reach scorching plasma temperatures up to 100 million degrees Celsius.
Funding to support LM26 testing, move toward commercial reactor
The funding will support more LM26 testing and move closer to building a commercial reactor.
The big goal: scientific breakeven—getting as much energy out of fusion as they put in.
It's a crucial step toward making clean fusion power real.
Segra Capital and PenderFund join General Fusion's board
With this funding round, Segra Capital and PenderFund have joined General Fusion's board.
As Segra's chief investment officer put it, the $22 million is "the least amount of capital possible" to help the company hit the next scientific milestone—so all eyes are on the team to deliver and attract more backing soon.