Richmond company takes top spot in Time tech ranking
A Metro Vancouver company has just been ranked as one of the world’s best renewable energy companies.
Time Magazine recently published a ranking of the world’s top “GreenTech” companies, stating that it’s highlighting the companies “driving the transition to a greener world.”
It partnered with Statista to rank the top companies that ” either develop or provide green technologies, products, or services that help mitigate or reverse the environmental impacts of human activity.”
While over 57 per cent of the companies on Time’s list were U.S.-based, General Fusion, a company with its headquarters in Richmond, ranked first out of 250 companies.
“General Fusion is a nuclear energy startup specializing in a technique called magnetized target fusion that plans to go public on the U.S. stock exchange through a $1 billion SPAC deal in mid-2026,” wrote Time.
It was founded in 2002 and has since been developing a way to produce energy by fusing atoms together, which is the same process that powers the sun.
Magnetized target fusion (MTF) aims to achieve fusion in “a practical way,” wrote General Fusion in a release. It avoids superconducting magnets and high-powered lasers and instead uses existing materials. It uses a machine that squeezes extremely hot gas (plasma) with liquid metal to try to trigger fusion reactions.
“Being named TIME’s top GreenTech company of 2026 is a testament to the incredible work of our team and a recognition of our innovative approach to transforming the world’s energy supply through fusion energy,” said Greg Twinney, General Fusion’s chief executive officer, in a release.
“For more than 20 years, we have been building and proving our technology … We’re on the path to industry-defining technical milestones to deliver practical fusion power in the next decade.”
Twinney added that they are receiving this recognition “at a pivotal moment” in the company’s journey.
Earlier this year, General Fusion announced that it planned to go public through a deal with Spring Valley Acquisition Corp III, which would make it the first publicly traded company focused entirely on fusion power.
“Fusion has the potential to reshape global energy markets, but success depends on practical engineering, disciplined investment, and a clear path to commercialization. This award reflects our approach to developing fusion power plants that can deliver reliable, zero-carbon energy at scale,” said Twinney.
With files from Kenneth Chan