A consortium of 12 Japanese companies said Tuesday that it has invested in Commonwealth Fusion Systems, a U.S. fusion energy startup.
The consortium aims to commercialize nuclear fusion power generation in Japan at an early date by acquiring technical knowledge through the investment. The group's ownership ratio in Commonwealth Fusion Systems was not disclosed.
The 12 companies include trading companies Mitsubishi and Mitsui & Co., telecommunications company NTT, Kansai Electric Power, shipping company Mitsui O.S.K. Lines and Jera, the largest power generation company in Japan.
Founded in 2018, Commonwealth Fusion Systems, a startup from the Massachusetts Institute of Technology, aims to start operations of a demonstration reactor for nuclear fusion in 2027 and put a commercial power plant into operation in the early 2030s.
Nuclear fusion is drawing attention as it generates a significant amount of energy without emitting carbon dioxide.
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