Key Facts
• On September 9, Sumitomo Mitsui Trust Bank announced investment in Kyoto Fusioneering.
• The investment uses the 2022 Impact Equity framework for solving social issues.
• Kyoto Fusioneering aims to develop fusion power with no CO2 emissions, using seawater as fuel.
• Total equity financing reached approximately 1.45 billion yen, including contributions from JERA and Kyocera.
• Debt financing of 5.3 billion yen was secured from five financial institutions.
• Funds will support the FAST fusion energy demonstration project and recruitment efforts.
• Financing will also aid construction of a fusion fuel cycle system led by a joint venture with Canadian Nuclear Laboratories.
• Japan Bank for International Cooperation (JBIC) highlighted the project’s role in enhancing Japan’s industrial competitiveness.
Summary
Sumitomo Mitsui Trust Bank has invested in Kyoto Fusioneering, a Kyoto University startup, to support the development of fusion power technology. This initiative aligns with the bank’s 2022 Impact Equity framework aimed at addressing social challenges. Kyoto Fusioneering focuses on creating CO2-free energy using seawater as fuel. The company raised approximately 1.45 billion yen through equity financing, with contributions from JERA and Kyocera’s venture capital fund. Additionally, 5.3 billion yen in debt financing was secured from institutions including JBIC and Mitsubishi UFJ Bank. The funds will advance the FAST fusion energy demonstration project, recruitment, and the construction of a fusion fuel cycle system in collaboration with Canadian Nuclear Laboratories. JBIC emphasized the project’s significance in boosting Japan’s global industrial competitiveness.
