One of Japan’s leading nuclear fusion technology start-ups will set up a base in South Australia, lured by the state’s $593 million Hydrogen Jobs Plan and off the back of a memorandum of understanding with the University of Adelaide.
South Australia trade and investment minister Nick Champion said on Tuesday that Osaka-based Ex-Fusion will set up a wholly owned subsidiary in the state by the end of the year, to further develop its cutting-edge laser fusion energy technology.
Nuclear fusion, the energy producing process of the sun, has the potential to generate energy with minimal emissions and without the radioactive waste of nuclear fission reactors – but achieving this in the real world has remained elusive.
A breakthrough achieved last December by researchers at the Lawrence Livermore National Laboratory in California was described by Scientific American as a “significant step for physics – but very far from enabling practical exploitation of fusion as an energy source.”
Ex-Fusion, co-founded by Osaka University researchers, is working to commercialise laser-based nuclear fusion technology that fuses hydrogen isotopes to produce zero emissions energy for power generation.
The company says the technology is “expected to make an important contribution to decarbonization in the long term due to its ability to flexibly respond to base and peak load fluctuations in the power supply grids.”
Last year, it raised 261 million yen ($US1.9 million) from a Tokyo-based venture capital firm and Osaka University Venture Capital and was named in this Asia Times article as one of several high-profile Japanese fusion start-ups that are starting to “roll in money.”
In December, Ex-Fusion signed a MoU with laser fusion firm HB-11 Energy and the University of Adelaide to assist and expedite laser and photonic research through shared facilities.
“For EX-Fusion to choose to call South Australia its home away from home, is testament to the innovative environment we’ve created in our State’s Capital,” said Champion on Tuesday.
“This investment along with the endorsement that has been provided by the Japanese Government – one of our biggest trading partners – creates significant opportunities for our local industries.
“The company’s cutting-edge green technology will support our transition to net zero as we work towards producing and delivering a global supply of clean hydrogen.”
Ex-Fusion Technology CEO, Kazuki Matsuo, said the company had chosen South Australia for its “agile market access capabilities” and the ability to work closely with government and researchers.
“We look forward to seeing South Australia grow further as the green energy and space capital of Australia,” Matsuo said.
The company says Ex-Fusion Australia Pty Ltd will be established in Adelaide, which it describes as “a hub for pioneering companies, exciting new industries, and a progressive and prosperous society in Australia.”
A company statement says the Adelaide branch will focus its business development efforts particularly on the application of laser technology.
“In the space sector, the laser control systems developed by EX-Fusion will play a central role with respect to laser communications and the capture and removal of space debris using lasers. We are also looking to develop applications for lasers themselves that have high market potential,” the company says.
