EQT Foundation invests in laser-fusion company, EX-Fusion
EQT Foundation invests in EX-Fusion, a Japanese-based laser-fusion company committed to building a better future with nuclear fusion energy.
EX-Fusion’s solution replicates the fusion that powers the sun through high repetition laser technology, with the potential to create abundant, safe, and clean power at commercial scale.
The funds will support the advancement of technologies in building a commercial fusion reactor.
The winner of the first EQT Foundation pitch competition in June 2023, EX-Fusion, has received a direct investment from EQT Foundation as part of its previously announced ¥1.8bn round of seed funding, led by Anri. EX-Fusion uses fusion energy, a new and innovative power generation system that uses laser fusion reactions to generate clean energy that does not produce CO2. This form of energy can supply large amounts of power in a sustainable and safe manner using resources abundantly available from seawater. This form of energy has the same or higher power generation capacity as a nuclear reactor and the safety of conventional renewable energy.
EX-Fusion’s solution addresses two critical challenges, with their solution leading to a scalable, abundant, CO2 neutral, and safe way to power the world. Firstly, it tackles the rising global energy demand, a consequence of economic growth in emerging nations, which is projected to surge by 1.26 times worldwide by 2050 compared to 2020. Secondly, it responds to the pressing need for a transition towards a decarbonized society, in alignment with the Paris Agreement's objective to limit temperature increases to 1.5°C above pre-industrial levels.
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About EQT Foundation
EQT Foundation is the philanthropic arm of EQT, a global investment firm with Nordic roots. The EQT Foundation is an impact first investor and incubator, supporting disruptive innovations. Founded by the EQT Partners, EQT Foundation safeguards EQT’s values, pushes the frontiers of impact, and activates the entire EQT organization to give back to society in meaningful ways. By supporting entrepreneurs, researchers, and non-profit organizations, while leveraging the passion and expertise of EQT, the EQT Foundation aims to build an inclusive and regenerative tomorrow. For more information, please visit eqtfoundation.com and follow us on LinkedIn and Twitter.
About EX-Fusion
EX-Fusion is committed to promoting the commercialization of laser fusion in Japan. By combining high-output, high-repetition laser technology, continuous target supply devices, and cutting-edge optical control technology, EX-Fusion aims to realize the world's first commercial laser fusion power plant and contribute to the development of technology in various optical industries, not limited to the energy sector. For more information, please visit ex-fusion.com.