Fusion Power Company General Fusion gets $ 22 million in the lifestyle from investors

GENERAL FUUSION, a Canadian nuclear energy company, announced today that it has been thrown in the form of $ 22 million in new financing.

The company was It applies at least 25 % of its employees In May, in an attempt to support its extended financial affairs. At the same time, CEO Greg Twin He wrote an open letter Avoid financing. Additional criticism will give the general fusion some breathing room, but not much.

A subtitle of current investors at General Fusion, they were involved in the Globe and Mail Reports The “Payment of Play” tour – a financing structure where current investors must participate to keep the property classes – which included the Chrysalix Venture Capital, Gaings, Hatch, Milfam, Jimco, Pierfund, Presight Capital, Segra Capital Management and This Capital. Pierfund and Segra got the seats of the Board of Directors as part of the deal.

Although the company described the tour as “exaggerated”, the amount of $ 22 million is much lower than $ 125 million And according to what it was stated, it seeks. Adam Rodman, the chief investment official of Segra Capital, told the Globe and Mail that $ 22 million was “the lowest amount of possible capital” to help the company hit the following scientific teacher.

GENERAL FUUSION was established in 2002 and before this tour raised $ 440 million, according to the stadium’s book.

Just months before making her general financial problems, General Fusion had She activated her latest deviceLawson Machine 26 (LM26), the semi -scale initial model for a commercial reactor. The new financing will give the company more time to run LM26 because it tries to hit the main scientific features.

GENERAL FUUSION is known as “targeted magnetic integration”. Inside the reactor, electricity flows Dotirium fuel fuel Heavy hydrogen isotopes – generate a magnetic field to contain plasma. Then this plasma is pressed by a liquid lithium wall that is pressed inward by the steam -driven pistons. The mixture should push the temperature and pressure inside the plasma enough enough to cause fusion reaction.

In March, when LM26 was commissioned, General Fusion said it expected the device to reach a scientific tie in 2026. reaching a scientific tie is very important in proving the validity of the reactor design, although it does not guarantee commercial success.

Today, General Fusion said he was still following a scientific tie, although he did not provide a schedule. The company also included two mediators: heating the plasma to 10 million degrees Celsius and 100 million degrees Celsius.

Given the limited size of the new financing, General Fusion seems likely to be released on the most investigative monuments to persuade investors to cut a new round of checks. The company may have bought itself a few valuable months, but unless it was able to provide promising results, you may find itself in the same narrow place it was during the month of May.

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