Kyoto Fusioneering, a startup developing technologies for the commercialization of fusion energy, has raised nearly $6.9 million in new funding. The Tokyo-based company has its U.S. office in Seattle.
In-Q-Tel (IQT), the nonprofit, independent investing firm that supports the Central Intelligence Agency and other Department of Homeland Security agencies, is a new investor in the company and participated in this latest round. Other new investors include two corporations: Marubeni and Nichicon.
Kyoto Fusioneering launched in 2019 and has raised a total of $95 million to date. More than two dozen investors have backed the company.
The company this year created Fusion Fuel Cycle, a joint venture in partnership with Canadian Nuclear Laboratories to develop a state-of-the-art fusion fuel cycle test facility dubbed UNITY-2. The startup is building UNITY-1, a fusion power generation test facility in Japan.
Kyoto Fusioneering opened its Seattle office in February of last year. The Pacific Northwest is a hub of fusion startups that also include Zap Energy, Helion Energy, Avalanche Energy and ExoFusion in Washington state, and General Fusion in British Columbia.
