Helical Fusion Raises About US$20.6 Mln In Series B Second Close

KUALA LUMPUR, Oct 8 (Bernama) -- Helical Fusion Co Ltd, a fusion energy company, has announced the completion of a 3.23 billion Japanese yen (approximately US$20.6 million) Series B second close (US$1 = RM4.08).

The round marks another expansion of the industrial coalition forming around Helical Fusion’s Helix Program, with Japanese electrical and industrial equipment manufacturer Fuji Electric Co Ltd joining as an investor and Official Partner of the Helix Program.

In a statement, Helical Fusion said Fuji Electric’s participation represents a significant expansion of the industrial capabilities being brought into the Helix Program.

Through the new capital and business alliance, the companies will broaden their collaboration towards the development of products, services, and advanced technologies required for future fusion power systems.

“The Helix Program is steadily moving forward. At the Helix HARUKA construction site, our team and industrial partners are working together every day to turn fusion technology into real hardware.

“The participation of Fuji Electric and other leading companies across Japan’s energy and industrial sectors further strengthens the foundation for building a new energy industry,” said Helical Fusion Co-Founder and Chief Executive Officer, Takaya Taguchi.

Other new investors in the second close include Hazama Ando Corporation, Fujikura Ltd, Tokyo Gas Co Ltd, KKT LLC, and URATA Co Ltd. The round also included investments from Ecrowd NEXT, a fund designed for individual investors, alongside multiple corporate and individual investors.

Together with other funding, including the Gifu Prime Startup Support Subsidy administered by the Gifu Prefecture Industrial Economic Promotion Center, Helical Fusion’s cumulative funding has reached approximately 13.15 billion Japanese yen (approximately US$83.8 million), including grants and loans.

The new capital will accelerate the Helix Program, Helical Fusion’s development roadmap towards integrated demonstration with Helix HARUKA and subsequent net-electricity generation with Helix KANATA, its first fusion power plant, in the 2030s.

-- BERNAMA