Struggling fusion power company General Fusion to go public via $1B reverse merger | TechCrunch

"General Fusion plans to use the money to complete its demonstration reactor, Lawson Machine 26 (LM26). The device uses an approach called "inertial confinement," which works by compressing a fuel pellet until its atoms fuse together, releasing energy in the process. The National Ignition Facility used inertial confinement in its successful fusion experiments, using lasers to bombard the fuel pellets to unleash the compressive force."

"LM26 eschews the lasers, though. Instead, it uses steam-driven pistons that drive a wall of liquid lithium metal inward to compress the fuel pellet. That liquid lithium then circulates through a heat exchanger, which generates steam to spin a generator. By avoiding expensive lasers or superconducting magnets, which are required in other fusion reactor designs, General Fusion hopes to build a fusion power plant for less money. But first the company has to prove its approach is viable."

General Fusion faced severe funding challenges last year, cutting at least 25% of staff before receiving a $22 million lifeline. The company will go public through a reverse merger with Spring Valley III and additional institutional investment, potentially receiving up to $335 million and valuing the combined company near $1 billion. The financing will fund completion of the Lawson Machine 26 (LM26) demonstration reactor. LM26 uses an inertial confinement approach that compresses fuel pellets, but substitutes steam-driven pistons and a liquid lithium wall for lasers or superconducting magnets. The design routes lithium heat through a heat exchanger to generate steam and drive a generator. The company must prove the approach is viable.

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