General Fusion signs framework deal to deploy fusion plants in Italy

General Fusion Inc. and Renexia S.p.A. have signed a framework agreement to advance the commercial deployment of fusion energy technology in Italy, according to a press release from the companies.

The agreement establishes a milestone-based framework for potential siting, development, funding, construction, and commissioning of one or more Magnetized Target Fusion (MTF) power plants in Italy. Collaborative work related to site feasibility is expected to begin immediately, with further phase one work expected to begin in 2026, subject to agreement on definitive terms.

The collaboration is structured in multiple phases, starting with site evaluation and selection, and continuing through identification of commercial opportunities, offtake agreements, permitting, and construction. Each phase is contingent on separate definitive agreements.

Renexia, a subsidiary of Italy's Toto Group focused on renewable energy development, is an existing member of General Fusion's Market Development Advisory Committee. General Fusion is headquartered in Vancouver, Canada, and was founded in 2002.

General Fusion CEO Greg Twinney said the agreement represents "another meaningful step toward exporting our practical fusion energy technology, developed in Canada, to the world."

Renexia CEO Riccardo Toto said the company "looks forward to furthering our collaboration to explore opportunities for siting, development, and construction of a fusion power plant in Italy."

General Fusion is separately pursuing a planned public listing through a business combination with Spring Valley Acquisition Corp. III (NASDAQ: SVAC). If approved by shareholders of both companies, the combined entity would trade on Nasdaq under the ticker symbols "GFUZ" and "GFUZW." Spring Valley set a shareholder meeting date of July 6, 2026, to vote on the transaction.

In early 2025, General Fusion announced it had built and begun operating its Lawson Machine 26 (LM26) fusion demonstration machine, which the company describes as the first MTF demonstration machine built at a commercially relevant scale.

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