General Fusion secures funding from Tobias Lütke’s Thistledown

General Fusion, a Vancouver-based fusion energy technology company, has secured undisclosed financing from Thistledown Capital.

General Fusion, a Vancouver, British Columbia-based fusion energy technology company, has secured undisclosed financing from new investor Thistledown Capital. Thistledown was created by Tobias Lütke, founder of e-commerce platform Shopify, and his wife Fiona McKean. General Fusion’s other investors include BDC Capital, Bezos Expeditions, Braemar Energy Ventures, Cenovus Energy, Chrysalix Venture Capital, Entrepreneurs Fund, Khazanah Nasional Berhad, Pender Ventures and SET Ventures.

PRESS RELEASE

Shopify founder supports General Fusion through Thistledown Capital

VANCOUVER, Canada (14 January 2021): Today, General Fusion announces the close of financing from new investor, Thistledown Capital, a firm established by Shopify founder Tobias Lütke and his wife, Fiona McKean. The investment will support the development of the company’s Fusion Demonstration Plant, which will showcase Magnetized Target Fusion technology at power-plant relevant scale.

Thistledown Capital was founded in 2019 to advance technological solutions for decarbonization, aiming to make the biggest impact for future generations by fighting climate change. Based in Ottawa, Canada, Thistledown Capital funds technology breakthroughs that support decarbonization, such as fusion energy.

This is the second time the founder of an e-commerce giant has supported General Fusion. Amazon’s Jeff Bezos previously invested in the company through his venture capital fund, Bezos Expeditions.

“General Fusion has a strong record of attracting funding support from some of the world’s most influential technology leaders,” said Greg Twinney, CFO, General Fusion. “Fusion is planet-saving technology, and we are proud to support the mission of Thistledown Capital in its pursuit for a greener tomorrow.”

About General Fusion

General Fusion is pursuing the fastest and most practical path to commercial fusion energy and is based in Vancouver, Canada, with locations in Washington D.C., and London, U.K. 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.

For more information:

Paul Sullivan

Mobile: +1 604 603 7358

paul.sullivan@generalfusion.com