Japan’s Kyoto Fusioneering (KF) has raised JPY10.5bn ($79m) in an oversubscribed Series C funding round led by existing investor, JIC Venture Growth Investments. The round attracted a total of 17 investors, including 11 new supporters. KF said this latest capital infusion brings total funds raised to JPY12.2bn.
The new capital and the expertise of its investors will be used to accelerate research and development for KF’s core products, including in-vessel components of fusion reactors and fusion plant engineering. KF also aims to expand its business expansion in the US and UK in order “to be at the forefront of the practical application and industrialisation of fusion energy”.
In Japan, the “Expert Committee on Fusion Strategy” has been active since September 2022. In April, during the government’s Integrated Innovation Strategy Promotion Conference, the committee unveiled a “Fusion Energy Innovation Strategy calling for the wider participation of the private sector in fusion energy research & development.
Kyoto Fusioneering was spun out of Kyoto University as Japan’s first fusion start-up in 2019 co-founded by Taka Nagao, Satoshi Konishi, Richard Pearson and Shutaro Takeda. Its mission is to tackle reactor engineering and technology challenges, whilst cooperating with fusion developers around the world, to rapidly accelerate the growth of the fusion industry. The company’s business model is to conduct R&D and design of innovative fusion reactor technologies, and to provide these alongside engineering solutions to both private fusion enterprises and publicly funded fusion programmes at global research institutions. Satoshi Konishi, was the first and second chairman of the International Coordinating Committee for the ITER Blanket programme.
KF has initiated strategic partnerships with various stakeholders both domestically and internationally. Earlier this year it signed a memorandum of understanding with Canadian Nuclear Laboratories ( to collaborate on the development and demonstration of fuel cycle systems and to share scientific information. A collaborative agreement was also signed with the United Kingdom Atomic Energy Authority (UKAEA) to develop fusion related technologies.
KF’s new equity subscribers include: JIC Venture Growth Investments Co; Coral Capital; DBJ Capital Co; Electric Power Development Co (J-Power); Inpex Corporation; JAFCO Group; Japan Co-Invest IV Limited Partnership/Sumitomo Mitsui Trust Investment Co; JGC Mirai Innovation Fund/JGC Japan Corporation; JGC Mirai Innovation Fund/General Partner Global Brain Corporation; K4 Ventures GK (Kansai Electric Power Group); Mitsubishi Corporation; Mitsubishi UFJ Capital Co; Mitsui & Co; Mol Plus Co; MUFG Bank Ltd; and SMBC Venture Capital Co.
KF says the company’s name is “special”. The word “Fusioneering” is an amalgamation of “fusion” and “engineering”, and “Kyoto” is where the company has its roots. Its logo is also significant. “Symbolism is important in Japanese culture, and our logo is no different. The first letter “F” of Fusioneering can be seen in the logo. The dot in the centre of the “F”, represents our planet, Earth. The line of the “F” rising from the lower left symbolises the energy to be released from creating a “Sun on earth”, whilst the upward arc of the “F” also represents the bridge (future) to the next generation.”
The company explains further: “The following two concepts are important in nuclear fusion: 1. Deuterium and tritium undergo a fusion reaction, producing neutrons and helium. 2. Extracting heat from neutrons, and producing new fuel (self-sufficient), using a blanket. Kyoto Fusioneering is developing the world’s most advanced blanket technology to address the second concept. Our logo is an abstraction of this, with the dot showing the fusion reaction as a plasma, whilst the line surrounding the dot represents our blanket technology.” Finally: “The red-orange colour has dual meaning: it represents both the sun and heat. In Japanese culture red also symbolises passion, and the colour of the logo shows the pioneering spirit of all members of the Kyoto Fusioneering team.”