Kyoto Fusioneering (KF), an engineering firm focused on the development of advanced technologies for commercial fusion plants, has secured a total of 1.07 billion yen from four new investors in a 2nd close on its Series C extension round. This brings the cumulative total raised in Series C to 13.1 billion yen, with 14.8 billion yen raised since the company’s inception in 2019.
Additional funding to drive innovation and development of our technology
Recent accomplishments by KF underscore our commitment to leading the fusion engineering and integration field. Earlier this year, we announced our joint venture, Fusion Fuel Cycle, Inc, in partnership with Canadian Nuclear Laboratories (CNL), to develop “UNITY-2,” a state-of-the-art fusion fuel cycle test facility. Through our new European subsidiary, led by industry expert Dr. Christian Day and his team from Karlsruhe Institute of Technology (KIT), we are solidifying UNITY-2’s position as a premier open platform. Progress with UNITY-1, our fusion power generation test facility in Japan, has included installation of the first large-scale equipment, commissioning and commencement of demonstration tests using liquid metal for high-temperature heat transportation. Through collaborations between industry and academia on our gyrotron system, we are verifing high frequency and multi-frequency oscillations.
Kyoto Fusioneering – Japan’s leading private fusion company and a global solution provider
On a global level, the communiqué from the recent G7 summit in Italy included the establishment of a G7 working group on fusion energy and a commitment to work together towards a consistent regulatory strategy. In addition, the UK launched a call for industrial partners to build a prototype device for the government-led STEP fusion energy reactor development programme. In May, a workshop organised by ITER, an international fusion consortium comprising 35 nations, called for participation from a wide range of industries. These developments clearly demonstrate a concerted move towards advancements in fusion through public-private cooperation, including collaborations between public institutions and private companies.
Amidst these changes, KF is actively strengthening both its technological prowess and its leading presence in Japan’s fusion sector. As chair of the Japan Fusion Energy Council (J-Fusion), KF plays an important role in bringing together stakeholders from industry, government, and academia nationwide. The council will strengthen Japan’s presence in the fusion sector in support of fusion energy efforts and stronger international ties, as highlighted in a recent Joint Statement on the Strategic Partnership between Japan’s Ministry of Education, Culture, Sports, Science and Technology (MEXT) and the US Department of Energy (DOE). In addition, the Japanese Cabinet approved the Fusion Energy Policy and Growth Strategy in June this year, which strengthens public and private sector development capacity, promotes international cooperation and calls for a power generation demonstration in the 2030s.
KF is committed to serving as a leading solution provider for fusion engineering challenges globally and as a gateway to Japan’s fusion-related technologies.
[Summary of 2nd close on Series C (Extension) Funding]
2nd close on Series C (Extension) Funding:
1.07 billion yen (Series C Funding 13.1 billion yen / Cumulative total: 14.8 billion yen)
New Equity Subscribers include (in alphabetical order):
- In-Q-Tel (IQT）
- Marubeni Corporation
- NICHICON CORPORATION
Purpose of the Funding:
- Accelerate investment in R&D, including UNITY-1 and UNITY-2
- Promote global business development and recruiting efforts
- Secure working capital for large project orders and business expansion
Satoshi Konishi, Co-founder and CEO of Kyoto Fusioneering Ltd, commented:
I would like to sincerely thank our new investors for supporting and backing Kyoto Fusioneering. The fact that investors from both the US and Japan have joined us this time is an indication of the high expectations for our company and of Japanese technology as we progress towards the early realisation of fusion energy. We have now begun to integrate elemental technologies and systems under real conditions using tritium and other materials. As this is challenging for a private start-up company to take on alone, we will continue to draw on the knowledge and networks of our investors and further strengthen our collaborations with our partners to become a fusion plant integrator.
[Comments from Investors] (in alphabetical order)
Steve Bowsher
CEO, In-Q-Tel (IQT)
IQT continues to look for investment opportunities in the power and energy domain as global efforts to achieve sustainable energy intensifies. We believe Kyoto Fusioneering is poised to make a significant impact as a key player in this essential industry.
Masahiro Yamazaki
Executive Officer, Chief Operating Officer, Energy Div.
Marubeni Corporation
Marubeni believes that the uniqueness and advancement of Kyoto Fusioneering’s technology development will serve as a foundation for the practical application of fusion energy. With a view towards the global social implementation and industrialization of fusion energy, we have made this investment with the expectation of creating new markets together with the company. By collaborating with Kyoto Fusioneering and its stakeholders, we will actively work towards the realization of fusion energy and contribute to a decarbonized society and stable energy supply.
Ippei Takeda
Chairman & CEO
NICHICON CORPORATION
Fusion energy is expected to be the “energy of dreams” that could solve the current energy problems that Earth faces. We have decided to invest in Kyoto Fusioneering because they are taking on the challenge of cutting-edge technology, and will play a crucial role in the practical application of fusion energy. Together with Kyoto Fusioneering, which shares the same roots in Kyoto, we will strive towards the realization of a carbon-neutral, brighter future for society.
[Current investors] (in alphabetical order)
- 31VENTURES – Global Brain – Growth I GK
- Coral Capital
- Daiwa Corporate Investment Co., Ltd.
- DBJ Capital Co., Ltd.
- Electric Power Development Co.,Ltd. (J-POWER）
- Fujikura Ltd.
- INPEX CORPORATION
- JAFCO Group Co., Ltd.
- JAPAN CO-INVEST IV LIMITED PARTNERSHIP / SUMITOMO MITSUI TRUST INVESTMENT CO., LTD.
- JGC MIRAI Innovation Fund L.P. / JGC JAPAN CORPORATION
- JGC MIRAI Innovation Fund L.P. (General Partner: Global Brain Corporation)
- JIC Venture Growth Investments Co., Ltd
- K4 Ventures GK (Kansai Electric Power Group）
- Kyogin Shining Future Support Fund III for SDGs Investment Limited Partnership General Partner: Kyoto Capital Partners Co., Ltd. (KCAP)
- Kyoto University Innovation Capital Co., Ltd.
- Mitsubishi Corporation
- Mitsubishi UFJ Capital Co., Ltd.
- MITSUI & CO., LTD.
- Mitsui Fudosan Co., Ltd.
- MOL PLUS Co., Ltd.
- MUFG Bank, Ltd.
- SMBC VENTURE CAPITAL CO., LTD.
About Kyoto Fusioneering Ltd
Kyoto Fusioneering is a privately funded fusion energy engineering company founded in 2019 building on decades of fusion research at Kyoto University. Uniquely dedicated to tackling advanced fusion engineering challenges, we leverage cutting-edge technologies such as gyrotron systems, tritium fuel cycles, breeding blankets, and hydrogen isotope transfer pumps. Collaborating globally with fusion innovators, both private and public, and focusing on critical-path technologies, we strive to deliver the promise of fusion. Headquartered in Tokyo, with a presence in the UK, and the U.S. and an in-house Kyoto R&D centre, we bring unmatched expertise and diverse solutions to the global fusion ecosystem. Explore more about KF’s vision for the future of energy at www.kyotofusioneering.com/en/ or by contacting media@kyotofusioneering.com
