FortisBC Inc. joins General Fusion’s Market Development Advisory Committee to examine potential for fusion energy deployment

AGÊNCIA DE COMUNICAÇÃO Conteúdo de responsabilidade da empresa 5 de novembro de 2024

General Fusion

RICHMOND, British Columbia, Nov. 05, 2024 (GLOBE NEWSWIRE) — Today, General Fusion announced that FortisBC Inc. (FortisBC), a regulated utility providing safe and reliable electricity, has joined its Market Development Advisory Committee (MDAC). With energy demand in B.C. forecasted to increase by 15 per cent or more by 2030, clean and abundant fusion energy is well-positioned to support the provinces growing energy needs and power its path to net zero emissions by 2050. General Fusions Lawson Machine 26 (LM26) fusion demonstration at its Richmond labs de-risks and fast-tracks its path to a commercial power plant by the 2030s. Through its MDAC, General Fusion is gaining input from potential early adopters across the energy industry as it progresses toward building a commercial-scale machine and first-of-a-kind power plant. General Fusion is collaborating with key players in Canada, such as FortisBC, to commercialize the companys homegrown fusion technology and drive significant job creation and economic benefits in B.C. and across Canada through global exports.

We believe that fusion will be part of the energy solution and are committed to working with energy providers to develop a practical and economical power plant that is cost-competitive, said Greg Twinney, CEO, General Fusion. Were excited to work with FortisBC to advance the design of our commercial machine and explore the future deployment of our clean energy technology developed over the past two decades here in B.C.

At FortisBC, we actively evaluate new technology that has the potential to provide lower-carbon energy options for our customers and reduce overall emissions, said Dawn Mehrer, vice-president of corporate services and technology at FortisBC. We are excited to work with General Fusion to support the development of an innovative energy solution that could one day play a role in B.C.s energy transition.

When commercialized, a single General Fusion power plant will be designed to provide zero-carbon power to approximately 150,000 Canadian homes, with the ability to be placed close to energy demand, minimizing the need for long transmission lines or pipelines and at a cost competitive with other energy sources. The companys approach is ideal for repowering existing power generation sites and industrial steam heat use. In its current design, a General Fusion power plant will produce about 300 MWe from two 150 MW machines running in tandem.

Quick Facts:

• Fusion energy is the ultimate clean energy solution it is the energy source that powers the sun and stars. Fusion is the process by which two light nuclei merge to form a heavier one, producing a massive amount of energy.
• General Fusions Magnetized Target Fusion (MTF) technology is designed to scale for cost-efficient power plants. It uses mechanical compression to create fusion conditions in short pulses, eliminating the need for expensive lasers or superconducting magnets. An MTF power plant is designed to produce its own fuel and inherently includes a method to extract the energy and put it to work.
• Today, General Fusion is accelerating its progress by building LM26. The fusion demonstration machine is on track to achieve transformative technical milestones in the next 24 months1 keV in the first half of 2025, then 10 keV, and ultimately scientific breakeven equivalent by 2026.
• General Fusions MDAC membership spans North America, Europe, and Asia and guides the design and development of a practical MTF power plant that will meet users needs. Member companies include FortisBC, Bruce Power, Duke Energy, Tennessee Valley Authority, E.ON, and Renexia. For a complete list, please visit generalfusion.com/about/partners/.

About General Fusion

General Fusion is pursuing a fast and practical approach to commercial fusion energy and is headquartered in Richmond, Canada. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.

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