Kyoto Fusioneering (KF), a Japanese nuclear tech firm, was able to secure a new round of funding that amounts to $11.7 million (1.33 billion yen).
Two men stand facing the cooling tower of the nuclear power plant of Goesgen from the city of Aarau on September 12, 2015. AFP PHOTO / FABRICE COFFRINI (Photo by Fabrice COFFRINI / AFP)
Thanks to this achievement, the tech company now has a total of $14.7 million (1.67 billion yen) in total.
Back in 2021, Kyoto Fusioneering was able to secure some contracts that will allow it to support the development of a government-backed prototype reactor in the United Kingdom called STEP (Spherical Tokamak for Energy Production).
This nuclear tech is expected to start operating around 2040. Once that happens, it will also KF to further grow its technologies.
Kyoto Fusioneering Secures Million-Dollar Funding
According to Tech Crunch's latest report, the latest Series B funding of KF was supported by its investors. These include JIC Venture Growth Investments, JAFCO Group, Daiwa Corporate Investment, and other big names.
Workers assemble an aircraft jet engine August 23, 2006 at the Rolls-Royce aircraft engine factory in Berlin, Germany. The factory, a greenfield project built in 1993 in what was East Germany before 1989, produces jet engines for aircraft makers including Airbus and Boeing. The plant's production is also typical of the high-tech exports that make the Germany the world's biggest exporter.
Now, KF plans to use the acquired budget to expand its research, especially when it comes to nuclear fusion technologies.
Specifically, the million-dollar funding is expected to enhance the company's nuclear fusion reactor projects in the near future.
Aside from the4 Series B rounding fund, Kyoto Fusioneering was also able to secure a $7 billion debt financing from the Bank of Kyoto, MUFG bank, as well as Sumitomo Mitsui Banking Corporation.
Other Nuclear Fusion Achievements
Nuclear fusion development is now attracting more attention from scientists and other experts since it can provide a massive amount of energy.
One of the latest achievements for nuclear fusion involves a giant laser. Newsweek reported that this critical breakthrough is a huge step when it comes to recreating nuclear fusion on Earth.
As of the moment, the atomic process is still impossible to be done on the planet. Nuclear fusion can only be seen happening in the Sun. But, this can soon change of tech firms can achieve more breakthroughs that will allow them to further understand how nuclear fusion happens.
In other news, Apple's letter to the U.S. Senate explains why the company wants to junk the sideloading app bill. Meanwhile, some former Google AI experts allegedly left the company to join Timni Gebru's non-profit organization.
For more news updates about nuclear fusion and other related energy topics, always keep your tabs open here at TechTimes.
Related Article: US Lab Achieves New Nuclear Fusion Stage! More Energy Emission Recorded
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Written by: Griffin Davis
