Burnaby, BC: Federal Ministers for Science & Economic Development and National Defence, Navdeep Bains and Harjit Singh Sajjan, announced a $49.3-million investment October 26 in General Fusion, a clean technology company working to develop fusion energy.
The funding will help General Fusion create technology leading to a first-of-its-kind large-scale prototype plant that will demonstrate “a practical approach to commercializing affordable electricity from fusion energy.” The company says its technology has the potential to revolutionize how this type of energy is generated and position the province and country as a global leader in fusion technology.
General Fusion will invest at least $150 million in research and development with the potential for over $250 million in additional investment for the construction of a demonstration plant.
Founded in 2002, General Fusion employs more than 70 people in Burnaby and is the only Canadian company working to commercialize fusion technology.