FEI Monthly Roundup - January 2026

Welcome to our round-up of what’s been happening in fusion and within Fusion Energy Insights over the past month.

3 Top Fusion News Stories

General Fusion to become first publicly traded pure-play fusion company via SPAC deal

General Fusion has signed a definitive business combination agreement with Spring Valley Acquisition Corp. III, a special purpose acquisition company (SPAC), in a deal that would take General Fusion public on the Nasdaq under the ticker "GFUZ". The wider Spring Valley group has prior nuclear experience, having sponsored the SPAC merger that took NuScale Power, the first small modular reactor (SMR) company, onto public markets. General Fusion says it will use proceeds from this move to advance Lawson Machine 26 (LM26), its large-scale magnetised target fusion demonstration machine. The companies expect the deal to close in mid-2026, subject to regulatory and shareholder approvals.

Bavaria Plans Construction of Three Fusion Machines to Pioneer Clean Energy

Bavaria has announced plans to develop three fusion projects across the state, spanning both demonstration and commercial-scale machines. A magnet-based fusion demonstration device is planned at Garching near Munich under the Alpha project, led by Proxima Fusion, targeting net-positive energy output. Two commercial projects are proposed: a magnet-based plant called Stellaris, also led by Proxima Fusion, at the former Gundremmingen nuclear site, backed by private investment and expected to operate within around 15 years, and a third, early-stage laser-based fusion plant in southern Bavaria to diversify technology approaches. The state says it is working closely with federal authorities and aims to reuse existing grid and nuclear infrastructure.

First US – Israel Fusion Supply Chain Initiative Launches

A new database and partnership to link Israeli defence and energy tech firms with US fusion developers has been announced. The effort is meant to help identify Israeli capabilities that can meet the needs of companies in the fusion sector. It follows the $320m Genesis Mission announced by the US Department of Energy last November to increase AI-supported, domestic scientific activity in areas like fusion, among others, and Israel's signing of the US's Pax Silica framework, which prioritises cooperation amongst allies towards critical technology development. This move builds on a series of strategic US agreements, including recent agreements with the UK and Japan, to expand allied industrial capacity for fusion scale-up.

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Chinese Private Fusion Funding Rapidly Catching USA

This was our industry analysis “Graph of the Month” piece this time.

Every month, our industry experts at Fusion Advisory Services pick an interesting graph from the work that has been going on at FAS—something that gives some insight into significant trends, commercialisation considerations or fusion industry development.

This month, we analysed and compared fusion funding across the globe, noting a particularly large leap in Chinese fusion funding, from both private and public sources.

Tracing fusion funding all over the world enables us to spot emerging trends in investment patterns. In 2025, the scale and geographic breadth of investment in fusion suggests a transition toward a more globally competitive and commercially focused phase of development.

FEI Premium subscribers can read the full article.

Past Online Events

4th December 2025: The Role of EPCs in Fusion Commercialisation (A Technical Discovery Session)

This event featured speakers:

• Lee Patrick, Fusion Energy Market Lead, from Atkins: an EPC
• Lisa Davies , Project Director & Engineering Manager, from Fluor: an EPC
• Ulrich Siegel, Vice president of Business Development, from Focused Energy: a private fusion company

Read our 3 Key Insights from the session. The full replay is available to FEI Premium subscribers.

This coming month

4th February 2025: Spark Session featuring Scott Hsu, Fusion Partner at Lowercarbon Capital

Spark Sessions are informal conversations with fusion industry leaders to provide an informative and inspiring perspective. We will hold 3-4 spark sessions throughout the year with selected speakers.