Grants and Contributions:
Title:
General Fusion's Magnetized Target Fusion: Advancing a Clean Energy Technology.
Agreement Number:
811346
Agreement Value:
$69,275,000.00
Agreement Date:
May 29, 2019 - Jun 30, 2033
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:
Other transfer payment
Report Type:
Grants and Contributions
Recipient Business Number:
853447134
Recipient Type:
For-profit organization
Additional Information:
The amendment has been completed to increase the contribution amount to $69,275,000.00 from $54,270,000.00.
Amendment Date
Jan 22, 2025
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: