Nuclear fusion firm Kyoto Fusioneering secured $79 M in oversubscribed round

A Japanese energy company called Kyoto Fusioneering has raised US $79 million in a round that was oversubscribed.

The company creates machinery for fusing energy, which involves joining two or more hydrogen atoms together and is the same process that powers the sun.

The company claims that there are no greenhouse emissions, no radioactive wastes with a long half-life, and no danger of meltdowns brought on by nuclear reactions as a result of its method of energy generation. Products from the company are designed to assist commercial fusion reactors.

The money will be used to expand Kyoto Fusioneering’s operations in the US and the UK and to conduct additional research and development for the business’s primary goods, such as fusion plant engineering and in-vessel components for fusion reactors.

Plans to open Japan’s first nuclear fusion power plant were made public by Kyoto Fusioneering last year. The company announced that it would begin operating at the facility within the following five years.