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

General Fusion completed its business combination with Spring Valley Acquisition Corp. III, moving the fusion startup into the public markets. The company said the deal closed after its previously announced merger of Spring Valley (NASDAQ: SVAC), a special purpose acquisition company, with General Fusion Inc. General Fusion will enter Nasdaq with about $150 million in cash, including net transaction proceeds from the private placement and trust capital. Shares and warrants are expected to begin trading on Nasdaq under tickers GFUZ and GFUZW on July 13, 2026, after the July 10, 2026 announcement. The new funding is intended to advance its Lawson program through key technical milestones it aims to complete in 2028, demonstrating and de-risking Magnetized Target Fusion technology in a commercially relevant way. The company currently operates Lawson Machine 26 (LM26), its first MTF demonstration machine at a commercially relevant scale, and targets plasma heating to 1 keV, then 10 keV, and ultimately the Lawson criterion.