Japan-based nuclear fusion firm powers up with $79m raise

Photo credit: Kyoto Fusioneering

Kyoto Fusioneering, a Japan-based energy company, has raised US$79 million in an oversubscribed round.

The firm develops equipment that harnesses fusion energy, which involves merging two or more hydrogen atoms – the same process that powers the sun.

Funding details

• Funding amount: US$79,000,000
• Lead investors: JIC Venture Growth Investments
• Other investors: Coral Capital, DBJ Capital, J-Power, Inpex Corporation, Jafco Group Japan, Sumitomo Mitsui Trust Holding, JCG Japan Corporation, Global Brain Corporation, K4 Ventures, Mitsubishi Corporation, Mitsubishi UFJ Capital, Mitsui & Co., MOL Plus, MUFG Bank (Mitsubishi UFJ Bank), SMBC Venture Capital
• Stage: Series C
• Source

According to the company, its method of energy generation produces no greenhouse emissions, no long-lived radioactive waste, and no risk of nuclear reaction-triggered meltdowns. The firm’s products are meant to support commercial fusion reactors.

The funds will be put into Kyoto Fusioneering’s expansion in the US and the UK, as well as further research and development for the company’s core products, including fusion plant engineering and in-vessel components for fusion reactors.

Last year, Kyoto Fusioneering revealed plans to open Japan’s first nuclear fusion power plant. The firm said that it would start operations at the plant in the next five years.

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