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.
"EX-Fusion's pioneering laser fusion technology holds great promise for replacing fossil fuels in key industries. With EQT's experience from infrastructure and technology investing, together with a global platform, we hope to help EX-Fusion with piloting their technology and expansion to key markets."
Cilia Holmes Indahl. CEO EQT Foundation
"In recent years, laser fusion has garnered significant attention as an infinite and environmentally friendly energy source. To efficiently advance this innovative technology, international cooperation that goes beyond domestic boundaries is essential. For that reason, we are delighted to welcome EQT Foundation, the philanthropic arm of EQT Group, an exceptional partner with extensive experience in the field of energy and technology, to the EX-Fusion project."
Koichi Masuda. Chief Revenue Officer EX-Fusion
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EQT is a purpose-driven global investment organization focused on active ownership strategies. With a Nordic heritage and a global mindset, EQT has a track record of almost three decades of developing companies across multiple geographies, sectors and strategies. EQT has investment strategies covering all phases of a business’ development, from start-up to maturity. EQT has EUR 269 billion in total assets under management (EUR 136 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets.
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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.
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