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General Fusion to build its Fusion Demonstration Plant in the UK, at the UKAEA Culham Campus

VANCOUVER, Canada and LONDON, UK, June 17, 2021 (GLOBE NEWSWIRE) — (BST) — The UK Atomic Energy Authority (UKAEA) and General Fusion have announced an agreement under which General Fusion will build and operate its Fusion Demonstration Plant (FDP) at UKAEA's Culham Campus. General Fusion will enter into a long–term lease with UKAEA following construction of a new facility at Culham to host the FDP. The FDP will demonstrate General Fusion's proprietary Magnetized Target Fusion (MTF) technology, paving the way for the company's subsequent commercial pilot plant. General Fusion will benefit from the cluster of fusion supply chain activities in the UK, centered on UKAEA's globally recognized expertise and presence in the field.

Amanda Solloway, Science Minister for UK Government said: "This new plant by General Fusion is a huge boost for our plans to develop a fusion industry in the UK, and I'm thrilled that Culham will be home to such a cutting–edge and potentially transformative project. Fusion energy has great potential as a source of limitless, low–carbon energy, and today's announcement is a clear vote of confidence in the region and the UK's status as a global science superpower."

The Fusion Demonstration Plant at Culham is the culmination of more than a decade of advances in General Fusion's technology, and represents a major milestone on the company's path to commercialization. The Fusion Demonstration Plant will verify that General Fusion's MTF technology can create fusion conditions in a practical and cost–effective manner at power plant relevant scales, as well as refine the economics of fusion energy production, leading to the subsequent design of a commercial fusion pilot plant. Construction is anticipated to begin in 2022, with operations beginning approximately three years later.

General Fusion and UKAEA intend to collaborate on a range of fusion energy technologies for power plant design and operation.

"Coming to Culham gives us the opportunity to benefit from UKAEA's expertise," stated Christofer Mowry, CEO, General Fusion. "By locating at this campus, General Fusion expands our market presence beyond North America into Europe, broadening our global network of government, institutional, and industrial partners. This is incredibly exciting news for not only General Fusion, but also the global effort to develop practical fusion energy."

The Culham Campus, the home of the UK's national fusion research programme, is owned and managed by UKAEA, widely recognized as a world leader in fusion energy development and innovation.

"This is a great development for UKAEA, very much in line with our mission to lead the development of sustainable fusion energy, and builds on our long heritage of hosting major fusion facilities such as the Joint European Torus," said Ian Chapman, CEO of UKAEA.

About General Fusion
General Fusion's mission is to pursue the commercialization of fusion energy based on its proprietary Magnetized Target Fusion technology. The company is based in Vancouver, Canada, with locations in Washington, D.C., and London, U.K. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. General Fusion's partnership with the UKAEA coincides with an expansion of the company's global headquarters and research facilities in Vancouver, Canada, and a growing presence in the United States.

Twitter: @GeneralFusion More information: www.generalfusion.com

Media contact:
Grace Peach
Director, Marketing and Communications
General Fusion
Email: media@generalfusion.com
Phone: 1–866–904–0995

About UK Atomic Energy Authority
The UK Atomic Energy Authority (UKAEA) carries out fusion energy research on behalf of the UK Government at Culham Science Centre near Oxford. UKAEA oversees Britain's fusion programme, headed by the MAST Upgrade (Mega Amp Spherical Tokamak) experiment. It also hosts the world's largest fusion research facility, JET (Joint European Torus), which it operates for European scientists under a contract with the European Commission.

Fusion research at Culham is funded by the Engineering & Physical Sciences Research Council (EPSRC) and by the European Union under the EURATOM treaty.

Twitter: @UKAEAofficial More information: www.gov.uk/ukaea

Media contact:
Nick Holloway
UKAEA Media Manager
nick.holloway@ukaea.uk

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/10dddd6f–2034–4cca–98b8–be66f10b601b


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Synchronoss Announces CFO Transition Plan

BRIDGEWATER, N.J., June 16, 2021 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging and digital products and platforms, today announced a CFO transition plan with current Chief Financial Officer (CFO) David Clark stepping down from his role on August 9, 2021, to pursue other personal and career interests. Clark's transition is unrelated to the Company's financial reporting and business performance, and the Company is reaffirming 2021 guidance previously provided on May 10, 2021, in parallel with today's announcement. Clark was appointed CFO in August 2018.

Commenting on Clark's departure, Jeff Miller, President and CEO of Synchronoss, said: "I've enjoyed working alongside David and thank him for his commitment to the Company. David joined Synchronoss to make enhancements to our operational controls and reporting. During his tenure he has helped Synchronoss navigate successfully through significant improvements in management of operating expenses and implementation of financial governance and controls. I firmly believe his contributions have positioned us for future growth and success. On a personal note, I wish him only the best with his future endeavors and appreciate his support during this leadership transition."

An executive search for Clark's replacement is currently underway. He will remain in his current role until his departure date and will support Synchronoss as it transitions the CFO role to a successor.

About Synchronoss
Synchronoss Technologies (NASDAQ: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company's collection of products helps streamline networks, simplify onboarding and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services and content they love. That's why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com

Forward–Looking Statements

This press release includes statements concerning Synchronoss and its future expectations, plans and prospects that constitute "forward–looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward–looking statements. Without limiting the foregoing, the words "may," "should," "expects," "plans," "anticipates," "could," "intends," "believes," "potential" or "continue" or other similar expressions are intended to identify forward–looking statements. Synchronoss has based these forward–looking statements largely on its current expectations and projections about future events and financial trends that it believes may affect its business, financial condition and results of operations. These forward–looking statements speak only as of the date of this press release and are subject to a number of risks, uncertainties and assumptions including, without limitation, risks relating to the Company's ability to sustain or increase revenue from its larger customers and generate revenue from new customers, the Company's expectations regarding expenses and revenue, the sufficiency of the Company's cash resources, the Company's growth strategies, the anticipated trends and challenges in the business and the market in which the Company operates, the Company's expectations regarding federal, state and foreign regulatory requirements, the pending lawsuits against the Company described in its most recent SEC filings, and other risks and factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10–K for the year ended December 31, 2020 and Quarterly Report on Form 10–Q for the quarter ended March 31, 2021, which are on file with the SEC and available on the SEC's website at www.sec.gov. The company does not undertake any obligation to update any forward–looking statements contained in this press release as a result of new information, future events or otherwise.

Media Contacts

For Synchronoss:
Anais Merlin, CCgroup UK
Diane Rose, CCgroup US
E: synchronoss@ccgrouppr.com

Investor Contact
For Synchronoss: Todd Kehrli/Joo–Hun Kim, MKR Investor Relations, Inc., E: investor@synchronoss.com


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