đź“ť General Fusion Raises $22M

Author

Liam Gill
August 22, 2025

News of the Day

General Fusion, the Canadian startup chasing nuclear fusion power, has secured a $22 million “pay-to-play” funding round from existing investors, giving it just enough runway to keep its half-scale prototype reactor running after laying off a quarter of its staff earlier this year. The lifeline falls well short of the $125 million the company had been seeking, with one backer calling it “the least amount of capital possible” to hit the next milestone. Founded in 2002 and backed by more than $440 million to date, General Fusion is betting on magnetized target fusion, where pistons and liquid lithium compress plasma to spark reactions. With its Lawson Machine 26 device aiming for scientific breakeven—an elusive milestone expected in 2026—the company now faces pressure to prove progress quickly or risk returning to investors hat in hand. The funding buys time, but not certainty.

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