{"id":94881,"date":"2021-12-06T12:27:28","date_gmt":"2021-12-06T12:27:28","guid":{"rendered":"https:\/\/alj.com\/?post_type=news&#038;p=94881"},"modified":"2022-04-11T08:50:40","modified_gmt":"2022-04-11T08:50:40","slug":"jimco-technology-fund-confirms-major-participation-in-us-130-million-transitional-series-e-funding-round-for-general-fusion","status":"publish","type":"news","link":"https:\/\/alj.com\/en\/news\/jimco-technology-fund-confirms-major-participation-in-us-130-million-transitional-series-e-funding-round-for-general-fusion\/","title":{"rendered":"JIMCO Technology Fund confirms major participation in US$ 130 million transitional Series E funding round for General Fusion"},"content":{"rendered":"<h4>From the press office of <a href=\"https:\/\/jimco.com\/en\/media-center\/jimco-technology-fund-media\/\" target=\"_blank\" rel=\"noopener\">JIMCO<\/a><\/h4>\n<ul>\n<li>This is JIMCO Technology Fund\u2019s second strategic investment to accelerate commercialization of fusion energy to provide the world with limitless sustainable power<\/li>\n<li>General Fusion is progressing its program for Magnetized Target Fusion<\/li>\n<li>Investment continues JIMCO support of innovative breakthrough technologies that will positively shape the future of core industries driving the global economy<\/li>\n<\/ul>\n<p><a href=\"about:blank\">JIMCO Technology Fund<\/a>, part of <a href=\"about:blank\">JIMCO<\/a>, the <a href=\"about:blank#jameelfamily\">Jameel Family\u2019s<\/a> global investment arm, confirmed its participation with an investment in <a href=\"about:blank\">General Fusion<\/a>, as it announced the closing of an over-subscribed Series E financing round of US$ 130 million.\u00a0<\/p>\n<p>This is the JIMCO Technology Fund\u2019s second major strategic investment towards the commercialization of clean, sustainable, and unlimited fusion energy and follows the recent investment in MIT spin-out <a href=\"https:\/\/jimco.com\/en\/news\/jimco-technology-fund-announces-major-participation-in-us-1-8-billion-series-b-funding-round-for-commonwealth-fusion-systems\/\">Commonwealth Fusion Systems<\/a> and reaffirms the Jameel Family\u2019s commitment to a sustainable energy future.<\/p>\n<p>This round expands General Fusion\u2019s portfolio of institutional, sovereign, family office, and high net worth investors, as a precursor to a large financing round being prepared for 2022.<\/p>\n<p>Together with broad financial support from governments of Canada, the United Kingdom, and USA, this General Fusion Series E round underpins an aggressive pursuit of several near-term initiatives and milestones in its program to commercialize <a href=\"about:blank\">Magnetized Target Fusion<\/a> (MTF).<\/p>\n<blockquote>\n<p><em>\u201dGeneral Fusion&#8217;s drive to shape the market for clean fusion energy is just one of the many reasons why JIMCO is investing in its commercialization program,&#8221; <\/em>said <a href=\"about:blank\">Fady Jameel<\/a>, a member of the Jameel Family\u2019s Investment Supervisory Board.\u00a0 <em>&#8220;The global energy sector is undergoing tremendous change to secure a cleaner future for all, which JIMCO is passionate about and ready to support through investments like the one in General Fusion.\u201d<\/em><\/p>\n<p><em>\u201dWith our 75-year history of investing in companies positively shaping the future of the core industries, we believe General Fusion&#8217;s global, technologically-advanced solution to commercial fusion energy make them a leader in this growing industry.\u201d <\/em>he continued.<\/p>\n<\/blockquote>\n<p>Founded in 2002, General Fusion has tenaciously pursued deployment of its power-plant scale Fusion Demonstration Plant located at the UK Atomic Energy Authority\u2019s (<a href=\"about:blank\">UKAEA<\/a>) <a href=\"about:blank\">Culham Center for Fusion Energy<\/a> near London.\u00a0 The Company has also accelerated MTF technology development activities associated with its new Vancouver HQ and opened a new facility adjacent to <a href=\"about:blank\">Oak Ridge National Laboratory<\/a> USA. \u00a0<\/p>\n<p>General Fusion has also created a Market Development Advisory Committee l (MDAC) &#8211; focused exclusively on fusion \u2013 and comprised of nine leading energy companies and clean energy users representing critical markets for the future of fusion energy&#8217;s carbon-free, on-demand power.<\/p>\n<blockquote>\n<p><em>\u201cGeneral Fusion&#8217;s unique global presence, with facilities in three countries, allows us to be much more ambitious in pushing toward commercialization,\u201d<\/em> said Christofer Mowry, CEO, General Fusion. <em>\u201cOur broad network of national laboratory and industrial partners, together with our advisory council of energy market end-users, positions General Fusion well to help the world achieve its net-zero carbon goals.\u201d<\/em><\/p>\n<\/blockquote>\n","protected":false},"featured_media":94889,"template":"","tags":[],"newscategory":[149],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>JIMCO Invests in General Fusion | Abdul Latif Jameel\u00ae<\/title>\n<meta name=\"description\" content=\"Know how the JIMCO Technology fund invested in General Fusion and expanded its powerplant. 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