Kyoto Fusioneering adds US$9.9m in Series C extension

11 April 2024

Kyoto Fusioneering has raised a total of ¥1.5bn ($9.9M) in a Series C extension round from three new investors:

• 31VENTURES – Global Brain – Growth I GK fund, a growth-stage fund co-managed by Mitsui Fudosan and Global Brain Corporation;
• Kyogin Shining Future Support Fund III of SDGs, a venture fund managed by Kyoto Capital Partners; and
• Fujikura Ltd, a manufacturer of high-temperature superconductors already collaborating with Kyoto Fusioneering in a project commissioned by the United Kingdom Atomic Energy Authority (UKAEA) on HTS magnets for fusion energy reactors.

This brings the cumulative total raised in Series C to ¥12bn ($79.2M) and the overall total funds raised to ¥13.7bn ($90.4M).

The new funds will be used primarily to accelerate Kyoto Fusioneering’s research and development efforts including the UNITY-1 and UNITY-2 projects which will be the world’s first test facilities for integrated fusion power plant systems. UNITY-1 is being developed in Japan and UNITY-2 in partnership with Canadian Nuclear Laboratories. The facilities aim to support the maturation of the thermal cycle system and fuel cycle systems, both critical path technologies for commercial fusion reactors.

Co-founder and CEO of Kyoto Fusioneering Ltd, Satoshi Konishi, commented “With research and development accelerating worldwide and the competition intensifying, we are leveraging the technology and expertise cultivated in Japan to deliver globally and build a supply chain.”  Noting too ”It is very encouraging to receive support from such a broad range of industries, including existing investors.”