Starlight Engine Raises Over 60 Billion Yen in First External Funding Round via Third-Party Allotment

Starlight Engine Inc., a company committed to realizing fusion energy, has completed its first external fundraising, securing a total of 6.06 billion yen through a third-party allotment. The round was led by Global Brain Co., Ltd.※1, and welcomed 17 new investors representing a wide range of industries, including power, construction, real estate, telecommunications, finance, materials manufacturers, university-affiliated venture capital, and international venture capital.

With this funding, the company will accelerate engineering design, research and development, site and regulatory preparations, and supply chain development for its 'FAST (Fusion by Advanced Superconducting Tokamak)' project, which aims to demonstrate fusion power generation in the 2030s. The company will also strengthen its human resources and organizational structure, essential for advancing the project. Looking ahead, Starlight Engine will work toward the realization and societal implementation of commercial fusion power plants, aiming to pioneer the fusion energy industry.

※1: Lead position taken by multiple funds operated by Global Brain Co., Ltd.

※2: Global Brain Co., Ltd. contributed through five of its managed funds

Background of the Fundraising

Globally, development competition in fusion energy—aimed at power generation demonstration, commercialization, and societal implementation—is accelerating, led by the United States and China. In Japan, the demonstration of fusion power generation in the 2030s has been positioned as a national strategy. Policy support is intensifying to transition from the R&D phase to societal implementation and industrialization, including technical development support for startups and discussions on public-private investment roadmaps.

Capitalizing on this momentum, Starlight Engine is advancing the 'FAST (Fusion by Advanced Superconducting Tokamak)' project, an industry-academia collaboration initiative aimed at private-sector-led power generation demonstration and its subsequent commercialization and societal implementation. FAST adopts the tokamak design, maximizing the research achievements, experimental data, and industrial manufacturing foundation accumulated over many years by researchers at national research institutions and universities through projects such as the International Thermonuclear Experimental Reactor (ITER) and the Japan-Europe joint project 'JT-60SA'. Additionally, the company has brought on board some of Japan’s leading researchers in tokamak devices and plasma physics as project members for FAST’s design and development, and is steadily progressing with engineering design and construction preparations.

To further accelerate business momentum, the company must speed up design activities and technological development for FAST and future commercial plants. Expanding collaborative research and partnerships to support design and development is also essential. To drive these initiatives, rapid organizational growth is indispensable. To this end, the company established a new executive structure in April this year and has begun full-scale efforts to strengthen its human resources and organizational framework in parallel with business advancement. Specifically, the company plans to grow its organization to around 200 members over the next two years and is intensifying recruitment activities. The funds raised in this first external round will be maximally utilized to advance these initiatives.

'FAST' Plant Concept Image

Fundraising Overview

Amount Raised:

6.06 billion yen *Cumulative funding amount is the same

Purpose of Funding:

Accelerating investment in design activities and technological development

Expanding and accelerating collaborative research and partnerships

Strengthening recruitment efforts to enhance human resources and organizational structure

Investors:

※Lead investor, lead investor’s LPs, co-investors with the lead investor, followed by alphabetical order

Global Brain Co., Ltd. *Lead investor

Mitsui Fudosan Co., Ltd.

KDDI New Business Development No.5 Investment Limited Liability Partnership

Tokyu Construction Co., Ltd.

Fukoku Mutual Life Insurance Company

Sony Financial Ventures & Global Brain Frontier Co., Ltd.

AV, formerly known as Airbus Ventures

Kyoto University Innovation Capital Co., Ltd.

Keio Innovation Initiative Co., Ltd.

K4V Vital Platform Fund No.1 Investment Limited Liability Partnership (Kansai Electric Power Group)

Daiwa Corporate Investment Co., Ltd.

Fujikura Ltd.

Furukawa Electric Co., Ltd.

Mizuho Bank, Ltd.

BRICKS FUND TOKYO (Corporate Venture Capital of Mitsubishi Estate Co., Ltd.)

Mitsubishi UFJ Bank, Ltd.

Comment from President & CEO Kikuchi Kiyotaka

On this fundraising, I would like to sincerely thank all those who have supported and endorsed our mission.

Demonstrating power generation through fusion energy and its subsequent societal implementation cannot be achieved by a single company alone. It is a major challenge that must be advanced through collaboration with industry, academia, government, local communities, and many other stakeholders. As a core player in this effort, we are committed to our mission: 'We will realize fusion energy.' Every day, we move forward with a strong awareness of our responsibility.

This is our first external fundraising, and despite being only about a year since our establishment, we have received tremendous expectations. We interpret this not only as high expectations for fusion energy itself, but also as strong trust in our vision and execution capabilities.

We will maximize the use of the funds raised to accelerate engineering design, R&D, collaborative research and partnerships, site and regulatory preparations, supply chain development, and human resources and organizational strengthening for the FAST project.

Starlight Engine will steadily advance toward the realization of power generation demonstration in the 2030s, and ultimately toward the realization and societal implementation of commercial fusion power plants.

Comments from Investors

※Comments are listed in alphabetical order after the lead investor, LPs of the lead investor, and co-investors, based on granted permissions

Global Brain Co., Ltd.

Director Tetsuya Uriimoto

In recent years, amid growing global momentum toward decarbonization and energy security, fusion energy has gained worldwide attention as a next-generation energy source, accelerating private investment and technological innovation. Among these efforts, Starlight Engine stands out with its exceptional management team, high technical capabilities, and strong project execution through industry-government-academia collaboration. For these reasons, we decided to lead this funding round. Going forward, we will comprehensively support Starlight Engine’s business growth.

Mitsui Fudosan Co., Ltd.

Executive Officer, Head of Venture Co-Creation Division, Innovation Promotion Headquarters, Hideaki Takanami

As an industrial developer, Mitsui Fudosan views the creation of new industries and their societal implementation as a key strategic initiative. Starlight Engine aims to realize the societal implementation of fusion-based power generation, opening new possibilities for future energy supply. We have high expectations for the company’s vision and execution capabilities and, as a like-minded partner, will join forces in supporting this challenge.

KDDI Corporation

Open Innovation Promotion