Japanese fusion reactor equipment startup bags $1m from Coral Capital, others

Kyoto Fusioneering, a Japanese startup developing equipment for the fusion reactor industry, said it has received 116 million yen (US$1.1 million) in funding from Coral Capital, individual investors, and founding members through a third-party allotment.

This brings the company’s total funding raised so far to 344 million yen (US$3.3 million), according to a statement.

Photo credit: ITER

The startup was founded in 2019 by Kyoto University professor Satoshi Konishi, one of the world’s leading experts on fusion engineering, according to Coral Capital. It aims to bring clean and sustainable energy to the masses by helping make commercial fusion a reality.

The startup said it plans to use the new funds to bolster its research and development efforts and recruit additional overseas sales and engineering talent.

“This technology may seem like something straight out of science fiction, but there is a lot of momentum pushing it into science fact,” said Coral Capital founding partner and CEO James Riney. “Around the world, billions of dollars are already spent on development.”

One of the largest projects in the space is the International Thermonuclear Experimental Reactor, a plasma-based fusion reactor megaproject backed by a coalition of countries. This includes China, India, Japan, the US, and South Korea, among others.

Kyoto Fusioneering also notes that several venture firms globally have already been established to help realize the potential of fusion reactors.

“[Kyoto Fusioneering] will contribute to the fundamental solution of the world’s energy environmental problems by providing […] key equipment and supporting plant design for multiple fusion reactor projects that are being constructed jointly by university-related companies in Europe and the US and internationally,” the company said in the statement.