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Kyoto Fusioneering, a developer of key components for fusion reactors, announced on Tuesday that it has completed its second Series C extension round, raising 1.07 billion yen (about $7 million US). This round saw participation from four parties, including US venture capital firm In-Q-Tel (IQT), Nichicon (TSE: 6996), and Marubeni Corporation (TSE: 8002). With this latest funding, the total amount raised in the Series C round reached 13.13 billion yen ($85.6 million US), bringing the company’s funding sum up to date to 14.81 billion yen ($96.4 million US).
This follows the company’s first close of the series C round back in April. The funds will be used to accelerate investment in technology development, including UNITY-1 and UNITY-2, to promote global business expansion and recruitment activities, and to secure working capital for large project orders and business growth.
According to the company, the landscape surrounding fusion energy is rapidly evolving. In Japan, fusion energy has been reincorporated into the government’s growth strategy, with plans to strengthen public and private sector development capabilities, promote international collaboration, and demonstrate power generation in the 2030s. Additionally, the Japanese and U.S. Departments of Energy have formed a strategic partnership, and political parties, including the Japanese Liberal Democratic Party, are intensifying their efforts to promote fusion energy. Furthermore, the Fusion Energy Industry Council (J-Fusion) has been established, reportedly accelerating moves toward industrialization.
Internationally, the G7 summit decided to establish a working group on fusion energy, while the UK’s STEP program is seeking industrial partners to develop a prototype plant. Fusion development is progressing through public-private cooperation in many countries.
Against this backdrop, Kyoto Fusioneering has established a new company called Fusion Fuel Cycle in collaboration with Canadian Nuclear Laboratories (CNL). The company also states that with the participation of industry expert Christian Day, concrete development in the area of fusion fuel cycle, centered on UNITY-2, is underway.
Moreover, at the power generation test plant under construction at the Kyoto Research Center, the installation of the first large-scale facility for UNITY-1 has been completed. A demonstration test using liquid metal has begun in preparation for the power generation demonstration under a simulated environment scheduled for around the summer of 2025. They are also working on technological development through industry-academia collaboration, including verification of high-frequency and multiple-frequency oscillation of the gyrotron system. In the future, the newly established overseas base, Kyoto Fusioneering Europe GmbH (KFEU), will also be involved in the project.
via PR Times