General Fusion Inc.

General Fusion Inc.

March 30, 2009 16:58 ET

General Fusion Recognized for Excellence in Environmental Technology

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) - Vancouver-based General Fusion Inc. was recognized by H.S.H. Prince Albert II of Monaco with an award for Excellence in the Field of Environmental Technology Research at the CleanEquity conference on emerging environmental technologies in Monaco last week.

"We are extremely pleased to receive this recognition from a discerning international audience," said Doug Richardson, CEO of General Fusion. "Fusion has sometimes been dismissed as an unattainable Holy Grail of energy, so it's great to have our core technology and development plan validated by industry experts - people who see that we have the potential to make clean, affordable fusion power a reality."

The second annual, invitation-only event, CleanEquity Monaco, included just 37 next-generation clean technology leaders from around the world, presenting to more than 300 delegates from the international corporate business, political, industry and media communities.

The conference culminated with the CleanEquity awards ceremony, presided over by the H.S.H. Prince Albert II of Monaco, whose own foundation supports the implementation of innovative and ethical solutions to climate change, as well as biodiversity and water issues.

The award was presented to Mike Sherman, Managing Director with Chrysalix Energy Venture Capital, the leading venture capital investor in General Fusion. Vancouver-based Chrysalix is a world leading Venture Capital Fund focusing exclusively on investing in early stage clean energy technology companies and one of the top 5 most active VCs in cleantech worldwide. The company is also supported by fellow Canadian VC investors GrowthWorks and the Business Development Bank of Canada.

General Fusion is working on a new, patent-pending concept based on a recent development in fusion research called Magnetized Target Fusion (MTF). General Fusion's MTF technology is an innovative re-engineering of previous hot fusion reactor concepts built on the foundation of 50 years of fusion R&D. General Fusion's goal is to demonstrate this new clean, safe and economical concept by 2013.

Fusion is the process that powers the sun. On earth, hydrogen isotopes, found in abundance in seawater, are heated to extremely high temperatures allowing them to contact and fuse to form helium releasing vast amounts of energy. The fuel and the by-product of the reaction are safe for the environment and the process emits no greenhouse gases.

"The global climate change challenge is too great to avoid pursuing all plausible avenues for the development of long-term economic, modular, scalable, clean energy sources," said Richardson. "Technology innovation in fusion has the potential to provide virtually limitless energy - to revolutionize energy production on earth."

General Fusion's approach has won positive reviews from leading engineering and nuclear experts, including Los Alamos National Laboratory, and the Boeing Company. All have concluded that General Fusion shows great potential for realizing viable, affordable fusion energy.

General Fusion is led by a team of accomplished technology veterans. President, Dr. Michel Laberge, and CEO, Doug Richardson are engineering physicists with successful track records in developing innovative laser imaging technology for CREO Products, a Vancouver based developer of prepress imaging now owned by Kodak. The company chair is veteran alternative energy financier Mike Brown, founder of Chrysalix Energy Venture Capital.

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