PRESS RELEASE
2022.03.7

Signed Group-wide Joint Loan Agreement Totalling 100 Million Yen with JBIC and MUFG Bank to Expand Activities in the UK

HOME > NEWS > Signed Group-wide Joint Loan Agreement Totalling 100 Million Yen with JBIC and MUFG Bank to Expand Activities in the UK

Kyoto Fusioneering Ltd (KF), a fusion technology company, based in Kyoto, Japan, and its UK subsidiary Kyoto Fusioneering UK Ltd. (“KF UK”) have signed a joint loan agreement for a total of 100 million yen, co-ordinated by Japan Bank for International Cooperation (JBIC; Governor: Tadashi Maeda) and MUFG Bank, Ltd. (MUFG Bank ; President & CEO: Junichi Hanzawa).

The proceeds of the joint loan will be used to finance long term operations of KF UK. In collaboration with JBIC, a governmental financial institution, and MUFG Bank, a major private sector financial institution, KF UK aims to strengthen its presence in the UK and expand its existing activity. KF was recently selected as a Tier 1 supplier on a tritium engineering framework to provide expert support to the United Kingdom Atomic Energy Authority (UKAEA), the government body responsible for the development of the STEP prototype fusion reactor, which is scheduled for operation in 2040 and is central to the UK’s national fusion energy strategy. KF was also recently awarded a contract to supply hardware (gyrotrons) for MAST-U, an experimental fusion reactor based at Culham, near Oxford, which will support STEP development. In addition to these public sector activities, KF is also working with several private developers, including in the U.S., to help solve engineering challenges. By providing our high-performance, innovative engineering solutions to the world, we aim to accelerate the practical application and commercialization of fusion with world-wide research institutes and companies, realizing the ultimate clean energy for humankind and achieving carbon neutral society.

【Summary of Syndicated Loan】
Amount of composition: 100 million yen 
(JBIC: Sterling pounds equivalent to 70 million yen, MUFG Bank: 30 million yen) 
Purpose of funds: KF UK’s long-term business funding 
Lenders: JBIC, MUFG Bank

About Kyoto Fusioneering Ltd.
Kyoto Fusioneering is a privately funded technology start-up founded in 2019, with its headquarters in Kyoto, Japan. The company is focused on developing advanced technologies for commercial fusion reactors, including gyrotron systems, tritium fuel cycle technologies, and breeding blankets for tritium production and power generation. The company is focused on innovative solutions that are simultaneously high-performance and commercially viable. Supporting both public and private fusion developers around the world, the company is accelerating the realization of fusion as the ultimate energy source for humankind.

Media Contact (English and Japanese language)
E-mail: media@kyotofusioneering.com
HP: https://kyotofusioneering.com/kfwp/
Twitter: https://twitter.com/kyotofusioneer
LinkeIn: https://www.linkedin.com/company/kyoto-fusioneering/

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