Japan's Itochu and SoftBank buy into U.S. nuclear fusion startup - Nikkei Asia
Japan's Itochu and SoftBank buy into U.S. nuclear fusion startup - Nikkei Asia
PALO ALTO, California -- Trading house Itochu and investment company SoftBank are investing in Blue Laser Fusion (BLF), a nuclear fusion startup in the U.S. developing technology for stable electricity generation using proprietary laser technology.
The two high profile companies are the first investors from the Japanese private sector in the company, which has set 2030 as its commercial launch target date.
Related Knowledge Center: ENERGY BASICS: nuclear
Nuclear energy provides almost 20 percent of the U.S. electricity supply. Advocates have called for an expanded role for nuclear as an emissions-free fuel source. But the economics of building new reactors are daunting. In addition, lingering safety concerns are an institutionalized part of the calculation of nuclear regulation, and highly radioactive nuclear waste remains a can that public officials have been inclined to kick down the road. The Energy Information Administration projects a sharp decline in nuclear power generation over the next decade, as new nuclear plants — two are planned — are more than offset by anticipated retirements of several operating reactors.