By Kosaku Narioka
Kyoto Fusioneering said Wednesday that it had raised 10.5 billion yen ($77.0 million) to fund research and development of fusion-energy equipment and strengthen its business overseas.
The Japanese fusion-power engineering company said the latest capital infusion brought its total funds raised to Y12.2 billion. The latest funding came from 17 investors, including Japanese oil explorer Inpex, Mitsubishi Corp. and Mitsui & Co., it said.
The company said it would use the proceeds to accelerate research and development for its products, including in-vessel components of fusion reactors, and fusion plant engineering, and expand its business in the U.S. and the U.K. as part of its efforts to commercialize fusion power.
Write to Kosaku Narioka at kosaku.narioka@wsj.com
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