Novel governance model combines the strengths and expertise of leading Japanese and Canadian companies to advance fusion technology
Tokyo, Japan / Chalk River, Ontario, Canada – [November 18, 2024] – Fusion Fuel Cycles Inc. (FFC), the groundbreaking joint venture between Kyoto Fusioneering Ltd. (KF) and Canadian Nuclear Laboratories (CNL), is pleased to announce the appointment of its new leadership team. Leading this exciting joint venture will be Dr. Ian Castillo from CNL and Yuhei Nozoe from KF, who will share the position of Chief Executive Officer. This novel leadership structure is reflective of the spirit of international collaboration and shared value creation, which guides FFC’s strategy and operations.
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| Dr. Ian Castillo (CNL) – Co-CEO | Yuhei Nozoe (KF) – Co-CEO |
This governance model also embraces FFC’s commitment to cooperative innovation, bringing together the strengths and expertise within both Japanese and Canadian companies. This includes CNL’s world-leading proficiency in tritium handling and technology, as well as KF’s expertise in engineering and integration for fusion power plants, positioning FFC at the forefront of the commercialization of fusion.
FFC is On Track to Accelerate Deployment of Integrated D-T Fuel Cycle Systems
The market opportunity for FFC is significant. Fusion research is rapidly accelerating in maturity, moving from benchtop experiments and modelling to the active construction of demonstration and prototype technologies. Currently, there are a total of 98 operating fusion experiments and demonstration facilities globally, with 13 under construction and a further 33 planned. The market pull for commercial fusion has grown rapidly in the last five years, with over 43 private fusion companies operating globally, attracting more than $8.2 billion* in funding. As technologies move to deployment, forecasters predict the global market opportunity in fusion could exceed $500 billion (CDN) within the next decade.
The majority of these technologies will use a D-T (deuterium-tritium) fuel cycle, and many share common obstacles and challenges. FFC’s mission is to accelerate the deployment of fully integrated D-T fuel cycle systems that meet the highest safety and performance standards. UNITY-2, its flagship project, will be the world’s first integrated fuel cycle test facility, providing an open, versatile platform for fusion innovators worldwide to advance science and bridge technology gaps in tritium-processing systems.
Since its formation, FFC has made remarkable strides:
- Capital Investment: FFC has successfully completed its initial capital funding, demonstrating the strong commitment of both parent companies to this venture.
- Project Progress: Entered in detail design phase, started procurement of long lead items, and in parallel conducted tritium compatible test for pumps to be integrated to the system.
- Best-in-class Tritium Management Expertise: FFC has secured regulatory approval in Canada to proceed with the UNITY-2 project as part of the existing CNL site license that allows up to 100 grams of tritium for processing. Positioning the company at the forefront of tritium-based fusion research.
- Building Integrated Fuel Cycle Test Facility: UNITY-2 is on track to become the world’s first fully integrated, end-to-end demonstration facility for the fusion fuel cycle, a critical step towards realizing practical fusion power generation. The facility is slated for commissioning by 2026, shortly after transitioning to full operation.
Quotes:
“Many fusion technologies around the world share similar challenges as they move towards deployment. Fusion Fuel Cycles Inc., which combines the strengths of two leading nations in fusion technology, is positioned to support the research needs of fusion developers, helping them overcome technical obstacles and move towards technology readiness.”
Dr. Ian Castillo, CEO, Fusion Fuel Cycles Inc.
“The integrated approach of UNITY-2 is what sets Fusion Fuel Cycles Inc. apart. We’re not just advancing individual components; we’re creating a holistic system that will enable continuous operation and, ultimately, power generation demonstrations. We will advance FFC with agility, paving the way for practical fusion energy solutions on a global scale.”
Yuhei Nozoe, CEO, Fusion Fuel Cycles Inc.
About Fusion Fuel Cycles Inc.
Established on 2 May 2024, Fusion Fuel Cycles Inc. is a joint venture between Kyoto Fusioneering Ltd. and Canadian Nuclear Laboratories. Located at Chalk River Laboratories, FFC’s mission is to accelerate the deployment of fully integrated D-T fuel cycle systems that meet the highest safety and performance standards. The first project under this initiative is UNITY-2, a groundbreaking integrated and flexible fuel cycle test facility.
About CNL
As Canada’s premier nuclear science and technology laboratory, and working under the direction of Atomic Energy of Canada Limited (AECL), CNL is a world leader in the development of innovative nuclear science and technology products and services. Guided by an ambitious corporate strategy known as Vision 2030, CNL fulfills three strategic priorities of national importance – restoring and protecting the environment, advancing clean energy technologies, and contributing to the health of Canadians.
By leveraging the assets owned by AECL, CNL also serves as the nexus between government, the nuclear industry, the broader private sector, and the academic community. CNL works in collaboration with these sectors to advance innovative Canadian products and services towards real-world use, including carbon-free energy, cancer treatments and other therapies, non-proliferation technologies and waste management solutions.
To learn more about CNL, please visit www.cnl.ca.
About KF
Kyoto Fusioneering, established in 2019, is a privately funded technology startup with facilities in Tokyo, Kyoto, Reading (UK), and Seattle (USA). The company specializes in developing advanced technologies for commercial fusion power plants, such as gyrotron systems, tritium fuel cycle technologies, and breeding blankets for tritium production and power generation. Working collaboratively with public and private fusion developers across the globe, Kyoto Fusioneering’s mission is to make fusion energy the ultimate, sustainable solution for humanity’s energy needs.
Explore more about KF’s vision for the future of energy at www.kyotofusioneering.com/en/ or by contacting media@kyotofusioneering.com.
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CNL Contact:
Philip Kompass
Director, Corporate Communications
1-866-886-2325
media@cnl.ca
