Kyoto Fusioneering Raises New Funds, And Accelerates Their Unity Fusion Program

Kyoto Fusioneering (KF) announced the first close of its Series D round, securing JPY 16.72 billion (approx. USD 105 million) in new equity plus access to JPY 9.0 billion (approx. USD 57 million) in credit and loan facilities, for JPY 25.72 billion (approx. USD 162 million) in total. The Tokyo-based company builds the plant systems around the fusion reaction rather than the reaction itself: gyrotrons for heating, tritium fuel cycle systems, and breeding blanket and thermal cycle systems. Proceeds will accelerate the UNITY Program, a staged de-risking effort spanning UNITY-1 in Kyoto, UNITY-2 with Canadian Nuclear Laboratories at Chalk River, and UNITY-3 with Oak Ridge National Laboratory in Tennessee, targeting facility completion by the end of 2028. New investors include the Development Bank of Japan, GX Acceleration Agency, JR East, IMM Investment Japan, SiteGround Capital, and Minerva Growth Partners, joining follow-on investors such as SMBC Venture Capital, JIC, Daiwa, DBJ Capital, and MUFG Bank. KF reports cumulative equity funding of JPY 32.98 billion (approx. USD 207 million) to date.