GlobeNewswire by notified

General Fusion Partners with Canadian Nuclear Laboratories to Advance Commercial Power Plant Design

Share

RICHMOND, British Columbia, April 04, 2024 (GLOBE NEWSWIRE) -- General Fusion has launched a new project in collaboration with Canadian Nuclear Laboratories (CNL), Canada’s premier nuclear science and technology organization, to advance the design of its commercial fusion power plant. Delivered through CNL’s Canadian Nuclear Research Initiative (CNRI) program, the project will examine and propose the most efficient and cost-effective designs to integrate the fusion machine, balance of plant, and power conversion systems in a power plant using General Fusion’s practical Magnetized Target Fusion (MTF) technology.

General Fusion is currently working to build a first-of-a-kind commercial pilot plant to provide electricity from clean fusion energy to the grid by the early to mid-2030s. CNL has previously supported this project through its CNRI program, providing General Fusion with recommendations related to tritium breeding technologies and tritium management facilities, which could be coupled with the company’s commercial power plant.

Now, General Fusion will leverage CNL’s expertise, capabilities, and advanced facilities in power plant design, licensing, and operations. Specifically, CNL will support the design work underway to select a tritium extraction method for an MTF commercial power plant and interconnecting technologies for all three systems. The highly detailed work will also evaluate and select specific materials and components, such as heat exchangers and power conversion technologies. As a result, General Fusion will refine its design for a practical and economical power plant that is cost competitive. In a commercial power plant, General Fusion’s proprietary liquid metal liner in the fusion machine will be mechanically compressed by an array of pistons. This unique approach addresses the material degradation, fuel production, energy capture, and cost barriers other fusion technologies still face.

“Canada has a strong fusion ecosystem, with General Fusion leading the private sector and Canadian Nuclear Laboratories providing world-class fusion R&D,” said Greg Twinney, CEO, General Fusion. “Our LM26 fusion demonstration machine is progressing rapidly towards game-changing technical milestones in the next two years. At the same time, we’re preparing to deploy clean fusion power to the grid with our practical approach, including advancing our commercial power plant design with top experts and renowned partners like CNL.”

The CNRI program was established by CNL to accelerate the development and deployment of next-generation reactors and fusion technologies and has facilitated major research projects with partners all around the world since it was launched in 2019.

“As Canada’s national nuclear laboratory, it is within our mandate to help advance a promising pipeline of fusion technologies,” said Dr. Stephen Bushby, Vice-President, Science and Technology, CNL. “We’re thrilled to continue collaborating with General Fusion and look forward to leveraging our expertise in reactor design and tritium R&D to enable progress in this exciting area of clean energy.”

Today, at its Canadian labs, General Fusion is building Lawson Machine 26 (LM26). Designed to reach fusion conditions of over 100 million degrees Celsius by 2025 and progress towards scientific breakeven equivalent by 2026, LM26 will fast-track General Fusion’s technical progress to provide commercial fusion energy to the grid in the next decade.

About General Fusion

General Fusion is pursuing a fast and practical approach to commercial fusion energy and is headquartered in Richmond, B.C., 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.

About CNL

As Canada’s premier nuclear science and technology organization, CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfils three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.

By leveraging the assets owned by Atomic Energy of Canada Limited (AECL), CNL also serves as the nexus between government, the nuclear industry, the broader private sector and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.

General Fusion Media Relations
media@generalfusion.com
1-866-904-0995

CNL Corporate Communications
media@cnl.ca
1-866-886-2325

Follow General Fusion
twitter.com/generalfusion
instagram.com/generalfusion
linkedin.com/company/general-fusion
facebook.com/generalfusion
youtube.com/c/GeneralFusionInc

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

TrueCommerce leverer globale e-fakturerings- og CTC-løsninger til virksomheder, der har udfordringer med overholdelse23.4.2024 19:10:28 CEST | pressemeddelelse

Virksomheden er ene om at tilbyde en global løsning, der omfatter e-fakturering, CTC-løsninger og et omfattende EDI-netværk, alt sammen problemfritintegreret med B2B e-handels- og ERP-systemer KØBENHAVN, Danmark, April 23, 2024 (GLOBE NEWSWIRE) -- TrueCommerce, en global leverandør af forsyningskæde- og handelspartnerforbindelser, integration og løsninger via flere kanaler, har i dag givet meddelelse om sin globale løsning til e-fakturering og Continuous Transaction Controls (CTC), der gør det muligt for organisationer at holde trit med de konstant skiftende juridiske krav overalt i verden og understøtter elektronisk fakturering, som opfylder de gældende krav. TrueCommerce er en global markedsaktør, der understøtter både e-fakturering og CTC og giver adgang til et omfattende globalt EDI-netværk samt B2B e-handel og ERP-integration. På grund af kompleksiteten i at navigere i et landskab af stadigt skiftende landespecifikke e-faktureringskrav og deadlines, står virksomheder over for en s

Festi hf.: Financial results for Q1 202423.4.2024 19:02:17 CEST | Press release

Key findings Sale of goods amounted to ISK 32,223 million, compared to ISK 29,484 million in the previous year, an increase of 9.3% between years.Gross profit from sales of goods and services amounted to ISK 7,033 million, an increase of 806 million or 12.9% between years.Profit Margins from sales of goods and services were 21.8% and increases by 0.7 p.p. from Q1 2023 but decreases by 1.2 p.p. from Q4 2023.Salaries and other personnel expenses increase by 7.5% and full-time equivalents by 2.5%.EBITDA amounted to ISK 1,898 million compared to ISK 1,401 million in Q1 2023, increase of 35.5% between years. Profit for the quarter amounted to ISK 202 million, or 2.9% of margin, a turnaround of ISK 293 million YoY.Net cash from operating activities was ISK 538 million or 7.6% of margin, compared to ISK 1,238 million last year.Equity at the end of Q1 2024 amounted to ISK 35,140 million with an equity ratio of 36.0%. EBITDA forecast for the year 2024 is raised by ISK 300 million and is now ISK

ASM reports first quarter 202423.4.2024 18:00:00 CEST | Press release

Almere, The Netherlands April 23, 2024, 6 p.m. CET Solid start of the year, Q1 orders supported by GAA and HBM ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q1 2024 results (unaudited). Financial highlights € millionQ1 2023Q4 2023Q1 2024 New orders 647.4 677.5 697.9 yoy change % at constant currencies (6%) (14%) 10% Revenue 710.0 632.9 639.0 yoy change % at constant currencies 40% (7%) (8%) Gross profit margin % 49.4 % 47.2 % 52.9 % Adjusted gross profit margin 1 51.1 % 47.9 % 52.9 % Operating result 204.2 131.5 187.1 Operating result margin % 28.8 % 20.8 % 29.3 % Adjusted operating result 1 221.2 141.0 191.8 Adjusted operating result margin 1 31.2 % 22.3 % 30.0 % Net earnings 380.4 90.9 173.1 Adjusted net earnings 1 183.0 100.3 178.9 1 Adjusted figures are non-IFRS performance measures (previously referred to as "normalized"). Refer to Annex 3 for a reconciliation of non-IFRS performance measures. New orders of €698 million in Q1 2024 increased by 10% at constant

Results of the Ordinary and Extraordinary Shareholders’ Meeting23.4.2024 18:00:00 CEST | Press release

Press release – regulated information Ghent, BELGIUM, April 23, 2024 (GLOBE NEWSWIRE) -- Biotalys (Euronext - BTLS) (the “Company” or “Biotalys”), an Agricultural Technology (AgTech) company developing protein-based biocontrols for sustainable crop protection, held its ordinary and an extraordinary shareholders' meeting today at 10:00 CEST at the Company’s seat. The legally required presence quorum was reached for the extraordinary shareholders’ meeting. The shareholders approved all items on the agenda of the meetings. All documents relating to the shareholders’ meetings can be consulted on the website of the Company. The minutes will be made available in due course. For further information, please contact: Toon Musschoot, Head of Investor Relations and Communications T: +32 (0)9 274 54 00 E: IR@biotalys.com About Biotalys Biotalys is an Agricultural Technology (AgTech) company developing protein-based biocontrol solutions for the protection of crops and food and aiming to provide alt

Kapitalforeningen BLS Invest - Forløb af ordinær generalforsamling23.4.2024 18:00:00 CEST | pressemeddelelse

FONDSBØRSMEDDELELSE Nasdaq Copenhagen A/S Postboks 1040 1007 København K23. april 2024 Forløb af ordinær generalforsamling i Kapitalforeningen BLS Invest Kapitalforeningen BLS Invest har i dag afholdt ordinær generalforsamling i henhold til tidligere offentliggjort dagsorden. Ledelsens beretning og årsrapporten for 2023 herunder de tidligere udbetalte foreløbige udlodninger samt bestyrelsens honorar for 2023 blev godkendt af generalforsamlingen. Der var ikke modtaget nogen forslag. Til bestyrelsen genvalgtes Chris Bigler, Søren B. Andersson og Anne Christina Skjønnemand, ligesom EY Godkendt Revisionspartnerselskab genvalgtes som revisor for foreningen. Bestyrelsen konstituerede sig efterfølgende med Chris Bigler som formand. Eventuel henvendelse vedrørende denne meddelelse kan rettes til bestyrelsens formand, Chris Bigler tlf. 29 74 06 55 eller CEO Erling Skorstad, tlf. 44 55 86 50. Med venlig hilsen Kapitalforeningen BLS Invest Chris Bigler Formand for bestyrelsen Vedhæftet fil FB_BLS

HiddenA line styled icon from Orion Icon Library.Eye