In a transparent and urgent move, Greg Twinney, CEO of Canadian fusion energy startup General Fusion, published an open letter on the company’s website on Thursday calling for immediate financial support to sustain the company’s operations and continue development of its cutting-edge fusion technology. The letter comes at a critical juncture for the firm, which has been striving to bring commercially viable fusion energy to market—a goal viewed by many as essential to achieving large-scale, carbon-free power generation.
General Fusion, founded in 2002, has made headlines in recent years for its innovative approach to magnetized target fusion, a novel method designed to achieve nuclear fusion by compressing hydrogen plasma inside a vortex of molten metal using high-powered pistons. This approach has attracted significant attention and investment, including from heavyweight backers like Bezos Expeditions, the investment arm of Amazon founder Jeff Bezos.
Despite the company’s promising technology and partnerships—including a previously announced demonstration plant at the UK’s Culham Science Centre—Twinney’s letter signals that General Fusion may be experiencing financial distress. The CEO did not disclose specific financial shortfalls but indicated that urgent funding is needed to avoid a shutdown or significant scale back of operations, including layoffs and potential delays to its demonstration plant timeline.
“We are at a pivotal moment in the company’s journey,” Twinney wrote. “Over the last two decades, General Fusion has made remarkable progress. But continued innovation, particularly in an emerging field like fusion, requires sustained investment.”
The open letter is intended to rally both private and public stakeholders, especially as other fusion ventures globally are benefiting from renewed interest and increased funding following advancements in fusion research, such as the net energy gain milestone recently achieved by California’s National Ignition Facility.
Twinney emphasized the broader implications for clean energy advancement and the strategic importance of maintaining Canadian leadership in the emerging fusion market. He also called on government institutions, particularly within Canada, to help bolster support for homegrown clean energy technologies.
“We believe fusion holds the key to providing clean, reliable energy for future generations,” Twinney added. “But we can’t do it alone.”
As the fusion sector heats up, General Fusion’s survival may depend on how swiftly public and private sectors respond to this plea. The success or failure of General Fusion will likely serve as an indicator of investor confidence in long-term, high-risk clean energy ventures.
Source: https:// – Courtesy of the original publisher.
