US Fusion Energy Company, Blue Laser Fusion, Raises $25M to Propel Novel Laser Fusion Technology and Implement Hydrogen-Boron Fuel
Funding Round Info:
In its inaugural Seed round of funding, Blue Laser Fusion Inc. (BLF), a privately funded venture with groundbreaking laser fusion technology, has successfully secured a total of $25 million in capital. Notable investors in this funding round include two prominent Japanese venture capitalists: JAFCO Group Co., Ltd. and SPARX Group Co., Ltd. (Mirai Creation Fund III). With an impressive portfolio of more than 200 patent applications, BLF has developed a unique and proprietary laser fusion technology capable of achieving a historic milestone - the world's first fusion for energy generation to power grids. The foundation of BLF's success lies in its MegaJoule pulse energy laser, featuring a high-speed repetition rate that paves the way for commercial fusion. BLF is on track to finalize its first prototype by the year 2025, with the ambitious goal of showcasing a commercially viable fusion reactor by 2030. To ensure sustainable and eco-friendly operations, BLF has opted for a safe hydrogen-boron fuel named "HB11." This fuel possesses several key advantages, such as being non-radioactive, free from harmful neutrons, and generating safe helium elements. Furthermore, its abundance in nature makes it an environmentally responsible choice for BLF's fusion endeavors.
About Blue Laser Fusion:
Blue Laser Fusion is a technology company with novel laser fusion technology. The technology is accelerating a transition to an electrified world without carbon using a proprietary HB11 fuel. The technology creates a complete clean energy system for providing electrical power to homes, businesses, and electric vehicles.
About JAFCO Group Co:
JAFCO, established in 1973, stands as Japan's premier venture capital and private equity company. With a remarkable track record, its investment funds have amassed capital commitments exceeding 1 trillion yen, and it boasts an impressive tally of over 1,000 portfolio IPOs to date. Operating across various global locations, including Japan, Singapore, China, Taiwan, and the USA, JAFCO proudly holds a position on the Tokyo Stock Exchange.
About SPARX Group Co(Mirai Creation Fund I,II, and III):
SPARX, through the Mirai Creation Fund I, established in November 2015, received contributions from Toyota Motor Corporation and Sumitomo Mitsui Banking Corporation. This fund's primary focus centers around intelligence technology, robotics, and hydrogen-economy technologies, all deemed crucial for the future. It aims to invest in companies or projects displaying innovative advancements in these respective fields. In the latter half of 2018 (H2 2018), SPARX initiated management of the Mirai Creation Fund II, expanding its scope to encompass the initial three Mirai Creation fields while also incorporating two new areas of interest: electrification and new materials. Fast forward to October 2021, SPARX took a step further by launching the Mirai Creation Fund III, which SPARX Asset Management Co., Ltd., a subsidiary of SPARX, manages as its fund manager. This third fund now includes carbon neutrality alongside the existing five fields of the Mirai Creation Fund II.