Grants and Contributions:

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Title:

811346

Agreement Number:

811346

Agreement Value:

$74,275,000.00

Agreement Date:

May 29, 2019 - Mar 31, 2034

Description:

This project will mature the company’s fusion energy technology systems from an experimental proof of concept to a power plant-relevant scale and conditions, and prepare for testing in an integrated prototype system by advancing key plasma form.

Organization:

Innovation, Science and Economic Development Canada

Expected Results:

The investment will help develop fusion technology in Canada through research and development, and execute the first commercially viable fusion energy plant in the world.

Location:

Richmond, British Columbia, CA V7B1B4

Reference Number:

033-2019-2020-Q1-811346

Agreement Type:

Contribution

Report Type:

Grants and Contributions

Recipient Business Number:

853447134

Recipient Type:

For-profit organization

Additional Information:

Please note these updates include changes to improve standardization of reporting across projects. The original start date was updated to reflect the correct execution date. The end date was updated from the end of the work phase of the project (30/04/2025) to the current end date of the contract (31/03/2034). This is not an extension. The end date now reflects the entirety of the agreement duration, including the benefit phase and residual audit period. Additional funding of $5000000 has been approved, bringing the total value to $74275000.

Amendment Date

Mar 26, 2026

Recipient's Operating Name:

General Fusion Inc.

Recipient's Legal Name:

General Fusion Inc.

Federal Riding Name:

Richmond Centre

Federal Riding Number:

59025

Program:

SIF Stream 1 - R&D

Program Purpose:

Encourage R&D that will accelerate technology transfer and commercialization of innovative products, processes and services; Facilitate the growth and expansion of firms in Canada; Attract and retain large scale investments to Canada; and-Advance industrial research, development and technology demonstration through collaboration between academia, non-profit organizations and the private sector.

NAICS Code:

541710

Amendments:

See Amendments