General Fusion, a fusion power company, began trading on the Nasdaq under the ticker GFUZ, marking its debut as the first publicly listed fusion energy firm.The stock surged 40% in its first day of trading, reaching $12.85.The company merged with Spring Valley Acquisition Corp.

III, a deal that initially promised up to $230 million in new capital but faced redemptions, potentially leaving General Fusion with less than $30 million after fees.Additionally, the firm raised $108 million from private investors, bringing its total cash reserves to around $150 million.Despite challenges, including layoffs and previous funding struggles, the merger provides financial breathing room.

Founded in 2002, General Fusion uses magnetized target fusion technology, which involves electromagnetic fields and liquid lithium to achieve nuclear fusion.The company had aimed to reach breakeven in 2026 but delayed its timeline to 2028 or later due to funding issues.It plans to launch its first power plant by 2035.The milestone highlights the growing interest in fusion energy as a potential clean energy solution.