Fusion Fuel Cycles Inc. Secures CA$20M Loan from JBIC and MUFG to Advance UNITY-2 Test Loop
CHALK RIVER, ON, Sept. 18, 2025 /PRNewswire/ -- Fusion Fuel Cycles Inc. (FFC), a joint venture between Canadian Nuclear Laboratories and Kyoto Fusioneering, is pleased to announce that it has secured a CA$20 million loan from the Japan Bank for International Cooperation (JBIC), and MUFG Bank, Ltd (MUFG Bank). This financing demonstrates a shared commitment between Canada and Japan to accelerate the deployment of clean energy technologies and strengthen international collaboration in the growing global fusion industry.
The loan will directly support the advancement of FFC's flagship project, the "Unique Integrated Testing Facility" (UNITY-2), the world's first fully-integrated fusion fuel cycle. By providing access to real-world, operationally relevant testing, UNITY-2 will serve as a platform for advancing fuel cycle technologies critical to achieving commercial fusion power.
"Fusion energy is a truly international challenge, and meeting it requires international cooperation," said Mr. Yuhei Nozoe, Co-CEO of FFC. "This loan underscores the importance of UNITY-2 as a bridge between Canadian and Japanese expertise. Together, we are laying the foundation for the global fusion industry by ensuring that tritium fuel cycle technologies can be tested, proven, and deployed at scale."
The support from Japanese financial institutions from both the public and the private sector represents a strong alignment with both Canada's and Japan's national strategies for clean energy innovation. For Canada, UNITY-2 will anchor the country's role as a hub for fusion fuel cycle development, leveraging decades of tritium-handling expertise at Canadian Nuclear Laboratories. For Japan, this loan complements the nation's long-standing investments in fusion research and Kyoto Fusioneering's leadership in advanced tritium and heat management technologies.
"This collaboration between Canada and Japan highlights how strategic international partnerships can accelerate innovation, create good jobs, and drive sustainable economic growth," said the Honourable Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions. "Canada has long recognized the transformative potential of fusion energy and has invested in this sector to position our country as a global leader. The federal government is steadfast in our commitment to supporting fusion development as part of our clean energy and innovation future."
Both the Canadian and Japanese governments recognize the potential economic benefits that leadership in fusion energy can bring, not only through the creation of highly skilled jobs, but also by positioning domestic industries at the forefront of a multi-billion-dollar clean energy market. The UNITY-2 project represents a direct opportunity to expand advanced manufacturing, technology exports, and knowledge-sharing between Canada and Japan. By supporting the development of a robust supply chain for fusion fuel cycle components, this collaboration ensures that both nations can capture the economic value of fusion while contributing to global energy security and decarbonization.
"The development of UNITY-2 right here in Ontario solidifies our province's reputation as a leader in energy innovation," said Vic Fedeli, Minister of Economic Development, Job Creation and Trade. "This financing milestone will create new, good-paying jobs across the province, strengthen our advanced-manufacturing sector, and deepen collaboration with Japan, one of our closest allies."
Founded in 2024, FFC has already established itself as a focal point of collaboration between the Canadian and Japanese fusion industries. The JBIC loan will ensure that UNITY-2 continues to advance as a global testing platform, enabling companies from around the world to validate technologies in conditions that simulate future commercial fusion power plants.
About FFC
Fusion Fuel Cycles Inc. (FFC) is a joint venture between two of the world's leading fusion service providers – Canadian Nuclear Laboratories (CNL) and Kyoto Fusioneering (KF). Founded in 2024, FFC combines over 70 years of tritium research and management expertise with the nimble, customer-focused approach of a start-up.
At Fusion Fuel Cycles Inc., we provide end-to-end solutions to deliver performance-driven fuel cycle systems. From design to full operations, our systems are built to boost fuel efficiency, reduce tritium inventory, and maximize heat transfer for power conversion—enabling safe, high-performance, and cost-effective fusion energy solutions.
For more information on FFC's activities, please visit www.ffc.inc.
About JBIC
The Japan Bank for International Cooperation (JBIC) is Japan's policy-based financial institution, wholly owned by the Japanese government. JBIC's mission is to contribute to the sound development of Japan and the international economy by supporting the overseas development and securement of vital resources, maintaining and improving Japan's international competitiveness, promoting environmental conservation through strategic investment and financing, and preventing disruptions to the international financial order and addressing the resulting damages.
For more information, visit www.jbic.go.jp.
About MUFG Bank
MUFG Bank, Ltd. is Japan's premier bank, with a global network spanning around 40 countries. Outside of Japan, the bank offers an extensive scope of commercial and investment banking products and services to businesses, governments and individuals worldwide. MUFG Bank's parent, Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo and with over 360 years of history, MUFG has a global network with
approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexibly respond to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges.
For more information, visit https://www.mufg.jp/english.
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