Fusion Fuel Cycles Inc. (FFC)—a joint venture between Canadian Nuclear Laboratories (CNL) and Kyoto Fusioneering (KF)—debuted on the global stage at FusionXInvest:Global in February 2025.
This was the ideal debut for FFC given its global roots and the event’s mission, which is to connect fusion developers, companies and investors around the world.
Since its founding, FFC has been at the forefront of developing cutting-edge fusion fuel cycle systems, a critical path technology vital to unlocking a sustainable fusion-powered future. The FusionXInvest:Global event showcased the progress of FFC’s UNITY-2, the worlds first commercially relevant fuel cycle demonstration facility, currently under development in Ontario, Canada—which, once operational in 2026, will serve as a cornerstone for advancing the global fusion energy ecosystem.
In this post, we explore the story of FFC’s rapid growth through the eyes of two of its founding members: Tracy Ma, Corporate Development and Strategic Initiatives at FFC, and Matthew (Matt) Cloutier, Head of Business Operations at FFC and Business Advisor at KF. They reflect on their journey, the challenges they’ve faced, and their vision for building FFC from the ground up.
What do both of you do for FFC?
Matt:
Tracy and I have overseen all corporate functions for FFC since its launch in May 2024. Notably, we’ve managed financing for UNITY-2—a critical enabler to keep pace with the rapid technological maturation of our fusion fuel cycle systems. In parallel, we’ve shaped FFC’s overall corporate strategy, covering everything from government and public relations to marketing, HR, and beyond—laying the foundation for a resilient and forward-looking organization.
How do you cover so many areas?
Tracy:
With our lean team, collaboration is everything. We work closely both within FFC and also with CNL and KF, our parent organizations. Both offer amazing support, but their nature is very different. CNL, a national lab, and KF, a dynamic private startup, provide us with different points of view. Their unique perspectives and professional expertise have been instrumental in helping us navigate the complex process of building FFC’s operational base.
As you built the company from scratch, what challenges have you faced?
Matt:
Building FFC’s identity from the ground up was a major undertaking. We started with the fundamentals—choosing a name, designing a logo, developing a signature style and launching the website. Every decision felt significant, knowing we had only one chance to make a strong first impression on the global fusion community.
It was intense at times, but our shared vision and purpose kept us focused and moving forward.
You’ve already developed multiple materials for the FFC brand that you showcased at FusionXInvest:Global. How were you able to produce them all so quickly?
Tracy:
Branding and visibility were key to establishing FFC’s presence. For our first major sponsorship at FusionXInvest:Global, we created flyers, notebooks, banners, even a 3D model of UNITY-2 including UNITY-1 —all within an incredibly tight schedule, approximately a month.
We didn’t have a lot to start—imagine, transforming technical content to marketing/presentation content, working with the engineering teams in Canada and Japan to create the 3D model, and developing marketing materials from scratch.
Thanks to the hands-on support from CNL and KF, and through sheer teamwork, we made it happen. That experience reinforced the power of determination and collaboration
What have been the takeaways from these experiences?
Matt:
Building the foundation of FFC has been an entrepreneurial journey in every sense. One early example was the launch of our website—one of our major early, public facing investments gave me deeper insight into corporate strategy. It pushed me to think beyond execution and into strategy: how to prioritize spending, align brand and messaging with long-term goals, and make disciplined decisions that support sustainable growth. Its been an incredible opportunity to have the support of larger organizations while creating a new, nimble platform that amplifies the world-leading fusion R&D happening at FFC through UNITY-2.
Tracy:
I had a similar experience. Setting up corporate functions and operational infrastructure was a “learning by doing” process every single day. While support from CNL and KF was essential, we needed to be fast and flexible. In a startup environment like FFC, everyone wears many hats, from legal to corporate management to communications to different audiences, from funding organizations to technical. It’s challenging but also incredibly rewarding. You grow faster because you’re involved in building every layer of the company.
What are your hopes for FFC moving forward?
Tracy:
I’m excited to continue growing FFC’s impact and be part of the fusion. One of my main goals is to secure government funding to support our operations and drive the UNITY-2 project forward.
With my environmental engineering background, I used to clean some of toxic sites in Canada. Now fast forward, full circle, I’m now part of the journey to cleanand abundant energy, preventing pollution before it starts. I’m very passionate about fusion as Ghandi said ‘be the change you want to see in the world’. Ultimately, I want to fast track FFC to be known for both its groundbreaking technology and working alongside top talent, and its culture of excellence and innovation.
Matt:
My vision is twofold. First, I see FFC as a catalyst for innovation, helping solve critical energy challenges through collaboration across the global fusion community. Second, I hope to bring FFC’s mission across different audiences—from technical partners and investors to the broader public. Everyone has a role to play in advancing fusion.
It’s deeply rewarding to be part of something bigger than yourself, something that could reshape our energy future. Through FFC and KF, we’re building the future of fusion energy, one step at a time.
FFC is already making waves thanks to its members’ dedication and teamwork, which have driven its rapid growth. With the UNITY-2 project in motion and an ambitious roadmap ahead, FFC is ready to play a pivotal role in shaping the future of fusion energy.
To learn more and stay up to date on FFC’s progress, visit ffc.inc, and follow Fusion Fuel Cycles on LinkedIn.
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