Spring Valley Acquisition Corp. III is a special purpose acquisition company (SPAC) incorporated in the Cayman Islands and headquartered in Dallas, Texas. The company was established to pursue a business combination, with a strategic focus on the energy, sustainability, and decarbonization sectors. It raised $230 million in its initial public offering in September 2025.
In January 2026, Spring Valley Acquisition Corp. III entered into a definitive merger agreement with General Fusion, a Richmond, Canada-based energy technology company. General Fusion is developing commercial fusion power plants based on its proprietary Magnetized Target Fusion (MTF) technology. The technology uses steam-driven pistons to compress a liquid lithium liner around a magnetized plasma, heating it to fusion temperatures to produce steam for electricity generation. The merger is intended to provide General Fusion with the capital necessary to advance its Lawson Machine 26 (LM26) demonstration plant and scale its engineering operations toward commercialization.
As a pre-deal SPAC, Spring Valley Acquisition Corp. III currently generates no operating revenue and holds its IPO proceeds in trust while working to finalize the business combination. Upon the expected closing of the transaction in the second quarter of 2026, the combined entity is expected to trade on a U.S. exchange under the ticker symbol GFUZ.
