Investor presentation — Q3 2026 · Concept sketch
October 16, 2026 · OTCQB: AMFN

01 — The ambition

Fusion is the technology.
Electricity is the goal.

American Fusion is a team of physicists and engineers in Texas building the Texatron™ Fusion Engine™ — a compact, pulsed fusion platform with one purpose: clean, reliable electricity, wherever it's needed.

Electricity is the goal.Here is the gap.

02 — Electricity: the global need

The world needs+5,400 TWhmore electricity.

The world doesn't just need energy — it needs electricity. The IEA expects global consumption to grow from 28,200 TWh in 2025 to 33,600 TWh by 2030, with data centers and AI driving half of U.S. demand growth.

  • +5,400 TWh More electricity used per year by 2030 than in 2025
  • 945 TWh AI and data centers by 2030 — up from 415 TWh in 2024
  • 2,500 GW Projects already waiting in global grid connection queues

Source: IEA — Electricity 2026 & Energy and AI

+5,400 TWh more electricity.So we chose fusion.

03 — Why fusion?

Clean fusion is the answer.We’re building
it in Texas.

Clean, reliable and available around the clock. Fusion offers a path to that supply by joining light atomic nuclei, the same process that powers the sun.

  • Clean electricity No fossil-fuel combustion
  • Energy-dense More energy from less fuel
  • Reliable supply Not dependent on sun or wind

We’re building it in Texas.This is it.

04 — Texatron

Meet Texatron.
The real deal.

Texatron™ is American Fusion’s approach to turning that ambition into electricity. A physical toroidal confinement chamber at the heart of a compact, pulsed fusion platform, already under test in Texas. The design is modular: standardized units intended to run alone or be combined as demand grows.

Meet Texatron.Why it works.

05 — Why American Fusion?

Compact and Pulsed.
And extremely simple.

Instead of holding plasma for long periods in huge machines, Texatron works in short, powerful pulses — compressing plasma rapidly to reach fusion conditions. The result: a compact unit, no mechanical turbines, built to be standardized and deployed on site.

  • Pulsed Short, repeatable compression
  • Aneutronic D–³He fuel pathway
  • Compact Built in Texas, sized for sites

Compact and pulsed.How it works.

06 — Technology

We build compact fusion pulseand turn it
into power.

Light fuels — deuterium and helium-3 — are heated into plasma. A capacitor bank releases energy in an instant, creating a magnetic field that compresses and heats the plasma until nuclei fuse. The system is designed to capture the released energy and convert it into electricity. 151 U.S. patent applications pending.

  1. 1Heat fuel into plasma
  2. 2Compress with a magnetic pulse
  3. 3Fuse and capture energy
  4. 4Reset and repeat

…and turn it into power.The first evidence.

07 — The proof

100,000

Atmospheres.

One atmosphere is the air pressing on you at sea level. Inside the Texatron pulse, the team has reached peak confinement pressures of about 100,000 times that — in repeatable tests. The latest experiments produced hotter, denser plasmas that stayed stable through the pulse.

  • Jul 2026 Testing begins at Texas Tech
  • Aug 2026 ~100,000 atm peak pressure
  • Sep 2026 Hotter, denser, stable plasmas

100,000 atmospheres.What that means today.

08 — Where we stand

Three conditions.
Where we are today.

  1. TemperatureTarget ~60 keV (700 million K). Testing planned across 50–200 keV.
  2. Pressure & density~100,000 atm peak, repeatable. Company-reported.
  3. Confinement timeTarget ~1 microsecond per pulse.

Independent scientific review of the Texatron technical report is underway.

09 — The people

Fifty years of plasma physics.
Built to execute.

Led by Dr. John Brandenburg — five decades in plasma physics and fusion. Backed by PhDs from MIT, UC Santa Barbara and UC Davis, and executives with 30–40 years in infrastructure and public markets.

10 — Road to electricity

From the lab
to the grid.

  1. 2026Validation — SEC-reporting, OTCQB, Texatron testing at Texas Tech
  2. 2027Pilot units — complete and demonstrate 0.5 MW and 5 MW Texatron [confirm]
  3. 2028First leased field deployments with pilot customers [confirm]
  4. 2029+Fleet scaling — 10–50 MW units under lease contracts [confirm]
  1. Feb 27, 2026Acquired Kepler Fusion Technologies Inc.
  2. Mar 12, 2026Two-year PCAOB audits completed, SEC Form 10 filed
  3. Mar 19, 2026American Fusion name and AMFN ticker effective
  4. Apr 27, 20261.683B shares returned to treasury — ~56% fewer shares outstanding
  5. May 14, 2026Form 10 effective — SEC-reporting company
  6. Jul 29, 2026Texatron testing program begins at Texas Tech
  7. Aug 18, 2026FINRA clears Form 211 under Rule 15c2-11
  8. Aug 21, 2026AMFN begins trading on the OTCQB Venture Market

11 — Market

A market measured
in nations.

Governments are funding fusion at national scale, and the future fusion market is estimated in the trillions by the end of the century. Texatron's sizes match where demand is growing fastest.

  • $1.6B U.S. DOE fusion funding, FY 2025–26
  • €5.61B EU commitment through 2027
  • £2.5B UK commitment in 2025
  • Micro0.5–2 MWEmergency power, military, off-grid communities
  • Mobile5–20 MWIndustrial, remote field ops, disaster response
  • Modular20–50 MWEnterprise data centers, microgrids
  • Utility class100 MWHyperscaler and AI data centers, chip fabs
  • Grid scale250 MW+Regional grids, metropolitan power

12 — Business model

We don't build utilities.
We lease deployable power.

American Fusion is not an energy company. We build compact Texatron devices and lease them — power that is driven out to where it is needed. Behind the meter, no grid connection queue. Four commercial proposals have been delivered and are under negotiation.

  • Mines & industry Remote sites that cannot wait for the grid
  • Defense in the field Mobile power for forward operations
  • Data centers & more On-site units for single facilities

13 — Competition

Big machines.
Or smart pulses.

Most of the industry is pursuing very large, continuously operated machines. American Fusion is positioned in a different lane: compact, pulsed and modular — built to be manufactured, not just constructed.

Large continuous machinesMassive scale · decade-long builds · central plants
Laser-driven systemsHuge facilities · complex optics · research-first
Texatron — compact pulsedStandardized units · on-site deployment · scale by adding units

14 — The market

The market already values
compact power.

Investors already pay billions for companies building smaller, deployable power. None of them is fusion.

CompanyMarket cap
Oklo$9.10B
NuScale Power$3.66B
NANO Nuclear Energy$1.14B
Lightbridge$0.29B
American Fusion~$195M

Peers as of June 30, 2026. AMFN as of September 25, 2026. Source: Yahoo Finance.

15 — The listing

From OTCQB
to a national exchange.

AMFN is an SEC-reporting company trading on the OTCQB. Management intends to pursue an uplisting to a national exchange and has retained Lucosky Brookman LLP as uplisting counsel.

Potential venues

  • Nasdaq
  • NYSE
  • Texas Stock Exchange

16 — The buyers

The buyers are
already here.

The world’s largest technology companies are signing fusion power agreements before the first commercial plant exists. The demand is not a forecast. It is a contract.

  • Microsoft × Helion
    Announced
    May 2023
    Capacity
    200 MW
    Expected operation
    2028
  • Google × Commonwealth Fusion Systems
    Announced
    June 2025
    Capacity
    400 MW
    Expected operation
    2030s

Sources: Microsoft, Google.

The buyers are already here.Now we build for them.

17 — Capital

$60.5M

What capital
makes possible.

The proposed raise finishes the units already built, then builds a ladder of larger systems for customer testing — from 10 MW up to 100 MW.

What capital makes possible.The case.

18 — Investment case

Invest in the
real thing.

Real hardware, a protected platform and a public company with a clear plan — at the start of a market measured in trillions.

  • Hardware A physical machine under test
  • 151 Pending U.S. patent applications
  • 4 Commercial proposals in discussion
  • AMFN SEC-reporting, OTCQB, aiming for a national exchange

401 N Carroll Ave., Ste. 192 · Southlake, TX · +1 833 872 2636

Contact investor relations

Appendix

From the newsroom.

Oct 13, 2026Pulsed-power upgrades, four commercial proposals under negotiation and scientific review of the Texatron technical reportRead the release →Sep 22, 2026Corporate update: 151 pending U.S. patent applications, Texatron testing and national exchange uplistingRead the release →Sep 15, 2026New Texatron testing results: hotter, denser toroidal plasmas that remain stable during the pulseRead the release →

Strategic Market Intelligence – för teamet

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