PALO ALTO, CA / ACCESSWIRE / March 20, 2024 / Blue Laser Fusion Inc. (BLF), a leading inertial fusion company, successfully closed its $37.5 million Series Seed funding round with investment from strategic partners SoftBank Corp., a major Japan-based telecommunication and IT operator, a private investor Yusaku Maezawa through the Maezawa Fund, and Itochu Corporation, one of world's largest trading companies. These new investors joined the round with top tier venture capitalists, JAFCO Group Co., Ltd., SPARX Group Co., Ltd (Mirai Creation Fund III), and Waseda University Ventures.
BLF was founded in 2022 by Shuji Nakamura, Ph.D, 2014 Nobel Laureate in Physics and Professor at the University of California, Santa Barbara, Hiroaki Ohta, Ph.D, General Partner of Waseda University Ventures (WUV), and Richard Ogawa, a Silicon Valley attorney. The company developed a proprietary novel laser fusion technology capable of achieving the world's first fusion for energy generation for power grids. BLF's technology enables a high efficiency Mega Joule pulse energy laser with a fast repetition rate coupled with a high gain, aneutronic solid target to achieve commercial fusion. BLF plans to complete its first prototype in 2025, and demonstrate a commercial-ready fusion reactor by 2030.
CEO of Blue Laser Fusion, Shuji Nakamura commented, "As we work to commercialize our innovative fusion technology to achieve our vision of a future powered by clean, limitless energy, we are proud to announce that SoftBank Corp., the Maezawa Fund, and Itochu Corporation are becoming shareholders of Blue Laser Fusion. We look forward to working with these world-renowned companies and strategic investors to deliver clean, on-demand renewable energy to the world."
"Successfully closing our seed round of financing with $37.5M in funding for our U.S. based company by Japanese investors truly shows strong support for our unique and pioneering technical approach for fusion," said Richard Ogawa, General Counsel and Secretary of Blue Laser Fusion.
"We are thrilled to be part of the journey with Blue Laser Fusion," said Akihiko Nakano, Vice President and Head of the Green Transformation Promotion Division at SoftBank Corp. He further emphasized, "As electricity demand for data centers are expected to increase rapidly due to the spread of AI, we hope to utilize CO2-free clean energy generated by Blue Laser Fusion's unique and innovative laser technology, and realize a decarbonized society."
Yusaku Maezawa commented, "Investing in Blue Laser Fusion represents more than just a financial opportunity; it is an investment in the future of energy and our planet. Fusion has the potential to revolutionize how we power our world, and we are proud to be backing a company at the forefront of this transformative technology."
Tetsuya Yamada, Chief Operating Officer, Energy Division of Itochu Corporation added, "Joining forces with Blue Laser Fusion represents a strategic investment in the future of clean energy. Fusion has long been touted as the holy grail of sustainable power, and we're confident that BLF has what it takes to bring this vision to fruition."
About Blue Laser Fusion, Inc.
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 high efficiency laser coupled with a high gain, aneutronic solid fuel target. The technology creates a complete clean energy system for providing electrical power to homes, businesses, and electric vehicles. "Blue Laser Fusion" and the logo are trademarks of Blue Laser Fusion Inc. www.bluelaserfusion.com
About SoftBank Corp.
Guided by the SoftBank Group's corporate philosophy, "Information Revolution - Happiness for everyone," SoftBank Corp. (TOKYO: 9434) operates telecommunications and IT businesses in Japan and globally. Building on its strong business foundation and compelling number of customer touchpoints, SoftBank Corp. is expanding into non-telecom fields in line with its "Beyond Carrier" growth strategy while further growing its telecom business. Also, by fully harnessing the power of AI, 5G/6G, IoT, Digital Twin, Non-Terrestrial Network (NTN) solutions, including High Altitude Platform Station (HAPS)-based stratospheric telecommunications, and other advanced technologies, SoftBank Corp. aims to be "a company that provides next-generation social infrastructure essential to the development of a digital society." To learn more, please visit https://www.softbank.jp/en/
About Itochu Corporation
ITOCHU Corporation was founded in 1858 when the Company's founder Chubei Itoh commenced linen trading operations. Since then, ITOCHU has evolved and grown over 160 years. With approximately 100 bases in 62 countries, ITOCHU, one of the leading sogo shosha, is engaging in domestic trading, import/export, and overseas trading of various products such as textile, machinery, metals, minerals, energy, chemicals, food, general products, realty, information and communications technology, and finance, as well as business investment in Japan and overseas. https://www.itochu.co.jp/en/
About Maezawa Fund
The Maezawa Fund, a joint-stock company established by a private investor Yusaku Maezawa, invests in entrepreneurs and organizations that focus on solving social issues. Yusaku Maezawa (born 22 November 1975) is a Japanese billionaire entrepreneur and art collector. He founded "ZOZO" (formerly "Start Today") in 1998 and launched the online fashion retail website ZOZOTOWN in 2004, now Japan's largest. In September 2019, he sold shares to one of the SoftBank Group companies "Yahoo! JAPAN" led by Masayoshi Son and stepped down as president. Since then, he has continued to take on various challenges, including a space mission on the ISS as a private citizen, while at the same time supporting various venture entrepreneurs in Japan and abroad. https://www.mzfund.co.jp
Media contact:
Blue Laser Fusion Inc.
contact@bluelaserfusion.com
SOURCE: Blue Laser Fusion Inc.
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