Japan fusion power startup raises $77.8 mln from Mitsubishi, INPEX, others
17/05/2023 04:14
TOKYO, May 17 (Reuters) - A Japanese nuclear fusion
power developer on Wednesday said it has raised 10.5 billion yen
($77.75 million) in investment from a consortium comprising
public sector bodies and private firms including Mitsubishi Corp
8058.T and INPEX Corp 1605.T .
The Tokyo-based startup, Kyoto Fusioneering, said it will
use the funds to accelerate research and development for its
core products such as in-vessel components of fusion reactors
and fusion plant engineering.
It said, in total, 17 investors - which also include Mitsui
& Co Ltd 8031.T , JAFCO Group Co Ltd 8595.T and a
government-affiliated fund - subscribed to a private share
placement.
Kyoto Fusioneering was founded in 2019 by researchers at
Kyoto University and is involved in the development of fusion
energy as a next-generation technology for the massive-scale
production of safe, reliable energy.
($1 = 135.0500 yen)
(Reporting by Mariko Katsumura; Editing by Christopher Cushing)
((Mariko.Katsumura@thomsonreuters.com;))