General Fusion wins $49.3 million SIF funding for clean tech development project

The Ministry of Innovation, Science and Economic Development (ISED) will invest $49.3 million from its Strategic Innovation Fund (SIF) to support technology development at General Fusion, a Burnaby, B.C.-based company seeking to commercialize fusion energy. Fusion energy is generated from reactions released by superheated hydrogen gas. The process is safe and produces no emissions or nuclear waste. ISED’s funding will help General Fusion create a large-scale demonstration plant for sustainable, affordable, and abundant electricity from fusion energy. ISED anticipates that the funding for this project and other technology development at General Fusion will lead to 400 new jobs in B.C.’s clean tech sector.