Leads Effort to Land Former Tektronix Head to Help Guide Game-Changing Fusion Portfolio Company to Commercialization
VANCOUVER, BC – Today, Chrysalix Venture Capital, the world’s most active cleantech venture capital firm for the past two years, announced Co-Founder and Partner, Michael Brown, has officially handed over the role as Chairman of the Firm’s utility-scale fusion power portfolio company, General Fusion. Mr. Brown will stay on the Board, and taking over for him is Rick Wills, former Chairman and CEO of global test equipment supplier, Tektronix, based out of Portland, Oregon.
“I’ve been in the venture business for over 40 years and have seen the significant benefits of complementing an early-stage company’s management team with an independent Chair. These organizations are often started by very talented, passionate teams who can learn from experienced senior executives,” said Brown. “In the case of General Fusion, which stands to change the future of energy, the Company had reached a point where it could attract world-class, experienced directors and more importantly, ones with the right operating know-how. Tektronix is a global leader with attributes relevant to General Fusion, especially turning very difficult feats of frontier scientific discovery into valuable commercial products. For the next stage, we needed somebody with big company, big industry, and big finance experience to be Chair. Rick Wills brings all that, and we’re thrilled to have him engaged.”
As the lead investor in General Fusion and one of its strongest advocates from the beginning, Chrysalix EVC fully supported the quest for a new Chair. This was a natural next step and validates the progress the Company has made in developing its utility-scale fusion power using new, proprietary concepts based on Magnetized Target Fusion (MTF). The Company is working with government, institutional, and industrial partners to develop a full-scale, proof-of-concept fusion power system to demonstrate Net Gain - something that mainstream fusion approaches have not achieved.
Adds Brown, “General Fusion is a business, not a science experiment. To ensure the road to maximum success, we believe that recruiting the right independent Chair is best pursued in anticipation of major progress.”
For more information on General Fusion, please visit www.generalfusion.com.
About Chrysalix Venture Capital
Chrysalix is a venture capital firm investing in technologies that will drive the new energy economy. The Firm provides early-stage financing, hands-on assistance and strategic connections to innovative companies confronting the world’s most important energy and environmental issues. For the past two years, the Firm has ranked the most active clean energy technology venture capital firm in the world. The Chrysalix team has an exceptional track record in this emerging industry. Collectively, it has over 120 years of experience in the energy industry and over 120 years in the venture capital business. The Firm is backed by a strong group of international blue-chip industrial and financial Limited Partners, and is headquartered in Vancouver, British Columbia. For more information, please visit www.chrysalix.com.
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