A joint venture between Canadian Nuclear Laboratories and Kyoto Fusioneering has secured a $20 million loan.
Fusion Fuel Cycles announced this month the $20M loan, which hails from the Japan Bank for International Cooperation and MUFG Bank.
From design to full operations, FFC aims to provide end-to-end solutions to deliver performance-driven, cost-effective fuel cycle systems.
The fresh financing demonstrates a shared commitment between Canada and Japan to accelerate the deployment of clean energy technologies and strengthen international collaboration in the growing global fusion industry, according to a statement from the firms.
“Fusion energy is a truly international challenge, and meeting it requires international cooperation,” explains Yuhei Nozoe, Co-CEO of FFC.
The loan will support the advancement of FFC’s flagship project, the “Unique Integrated Testing Facility,” or UNITY-2.
UNITY-2 is described as the world’s first fully-integrated fusion fuel cycle, set to serve as a platform for advancing fuel cycle technologies that are deemed critical to achieving commercial fusion power.
“This loan underscores the importance of UNITY-2 as a bridge between Canadian and Japanese expertise,” noted Nozoe. “Together, we are laying the foundation for the global fusion industry by ensuring that tritium fuel cycle technologies can be tested, proven, and deployed at scale.”
For Canada, UNITY-2 will anchor the country’s role as a hub for fusion fuel cycle development, leveraging decades of expertise from the Canadian Nuclear Laboratories, which earlier this year ramped up support for a wider range of clean energy technologies.
“This collaboration between Canada and Japan highlights how strategic international partnerships can accelerate innovation, create good jobs, and drive sustainable economic growth,” remarked federal minister Mélanie Joly. “The federal government is steadfast in our commitment to supporting fusion development as part of our clean energy and innovation future.”
The UNITY-2 project represents a direct opportunity to expand advanced manufacturing, technology exports, and knowledge-sharing between Canada and Japan, according to Vic Fedeli, Minister of Economic Development, Job Creation, and Trade.
“The development of UNITY-2 right here in Ontario solidifies our province’s reputation as a leader in energy innovation,” stated Fedeli. “This financing milestone will create new, good-paying jobs across the province, strengthen our advanced-manufacturing sector, and deepen collaboration with Japan, one of our closest allies.”
Fusion Fuel Cycles was founded in 2024.