OSAKA, Japan, July 6, 2023 /PRNewswire/ -- EX-Fusion announced today the close of an over-subscribed $1.8 billion yen seed-round investment designed to accelerate the commercial development of laser fusion technology. EX-Fusion has raised 130 million yen to date, and this latest financing will bring the total amount raised to 1.93 billion yen.
Background
Currently, there is growing interest in the potential of laser fusion for achieving a decarbonized society, and international competition is intensifying. In the past, academic research and development have been carried out mainly by universities and national research institutes in various countries but following the announcement of the energy gain (net energy gain) experimental results of the National Ignition Facility (NIF) at Lawrence Livermore National Laboratory in the United States on December 13, 2022, startup companies around the world are accelerating towards the commercialization of laser fusion.
EX-Fusion is committed to promoting the commercialization of laser fusion in Japan. By combining high-output, high-repetition laser technology, continuous target supply devices, and cutting-edge optical control technology, we aim to realize the world's first commercial laser fusion power plant, and contribute to the development of technology in various optical industries, not limited to the energy sector.
Purpose
Since the previous round of funding, we have focused on the development of components for laser control. Through this round of funding, we will establish our own facility and prepare an environment for integrated testing of these components.
In addition, larger components are required to control higher-output lasers. In order to become a global leader in future nuclear fusion energy science, we aim to achieve in-house production of dedicated laser systems and advanced manufacturing technologies, as well as establish a variety of optical industries centered on laser fusion, and make significant progress as a producer of clean energy.
Investors
ANRI
Nissay Capital
Delight Ventures
Mitsui Sumitomo Insurance Capital
Nikon-SBI Innovation Fund
Osaka Shoko Shinkin Bank
Mitsubishi UFJ Capital
SMBC Venture Capital
Shizuoka Capital
Kyushin Social Capital
Germination Fund
Comments from investors
ANRI, Masahiro Samejima (Lead Investor)
I am very happy to be able to participate in this round of funding as the lead investor.
We have been supporting the company since the pre-startup stage of the technology concept, and we feel that the world's attention to laser fusion is rapidly increasing due to the research results of the NIF in the United States. On the other hand, there are still various elemental technologies to be developed and time to realize laser fusion, so we would like to support the company steadily as a "Patient Capital" that can carefully nurture such "Tough Tech" in a long-term perspective, without being too affected by the trends of the world. Let's somehow deliver the "sun on earth" to humanity.
About the future
EX-Fusion will explore many new technology areas, including clean energy generation, and maximize the potential of laser fusion energy. In particular, we will contribute to the development of technology in various optical industries, not limited to the energy sector, by utilizing the continuous target supply devices and cutting-edge optical control technology that have been obtained in the process of striving to realize a commercial laser fusion power plant.
What is laser fusion energy?
Safe, reliable, and clean energy that does not generate high-level radioactive waste. It is generated by a small nuclear fusion reactor using an abundant fuel that can be extracted from seawater. It has the same or greater power generation as a nuclear reactor and the safety of conventional renewable energy, and it can also respond to load changes by changing the number of laser repetitions.
CONTACT:
Shoko Oda
PR/Media Manager
shoko_oda@ex-fusion.com
