Burnaby’s General Fusion taps new CFO, VP

General Fusion has added a new chief financial officer and vice-president to its C-suite. 

General Fusion is working to harness fusion power | Photo: Dominic Schaefer

General Fusion has added a new chief financial officer and vice-president to its C-suite.

The Burnaby-based startup specializing in fusion power announced Tuesday (April 19) Bruce Colwill has been tapped as its next CFO. He’ll be joined by Jean-Francois Beland as vice-president of government relations and corporate affairs.

Since launching in 2002, General Fusion has been attempting to harness fusion power — a process by which atoms release energy when merged together and lose mass.

The local clean energy firm has raised more than $100 million from investors over the past 14 years, not including a $13-million grant awarded to it last month by Sustainable Development Technology Canada.

Colwill has previous experience leading a company through an initial public offering, according to a release from General Fusion.

“The company is at an exciting point in its evolution and I look forward to contributing my experience to assist the company in raising capital as well as day-to-day financial and business operations as it pursues its goal of developing commercial fusion energy,” Colwill said in a statement.

Colwill last worked as a CFO for Vancouver-based miner Entrée Gold. Prior to that, he served as CFO of Neuromed Pharmaceuticals from 2001 to 2009.

Beland will be based near Ottawa, where he previously served as policy adviser on the Treasury Board of Canada while serving in the Prime Minister’s Office under Stephen Harper.

“General Fusion’s technology is a potential game changer for Canada and the world,” he said in a statement.

“It is important that we keep governments at all levels informed about our program and progress and look for opportunities to collaborate in developing this technology.”