Ottawa invests $49.3 mln in venture-backed General Fusion

General Fusion, a Vancouver-based fusion energy technology company, has raised $49.3 million from Ottawa's Strategic Innovation Fund. The funds raised will support the company's development of a large-scale prototype plant to demonstrate a practical approach to commercializing electricity from fusion power. Founded in 2002 by CSO Michel Laberge, General Fusion is backed by BDC Capital, Bezos Expeditions, Braemar Energy Ventures, Cenovus Energy, Chrysalix Venture Capital, Entrepreneurs Fund, Khazanah Nasional Berhad, SET Ventures and other investors.

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