Japanese company EX-Fusion is establishing its international presence in South Australia, with plans to produce a safe and reliable source of green energy.
The announcement was made at the Australia-Japan Business Co-Operation Committee Joint Conference in Melbourne, which was attended by Trade and Investment Minister Nick Champion.
EX-Fusion is developing cutting-edge laser fusion technology that fuses hydrogen isotopes to produce safe, sustainable, and reliable energy for power generation.
Laser fusion technology is increasingly gaining global popularity and is being touted for its potential to help Australia achieve its carbon neutrality target by 2050 by addressing load fluctuations and meeting market demands while decarbonising existing energy sources.
EX-Fusion aims to reduce carbon emissions by about 14.49 billion tonnes, which is equivalent to two per cent of the world’s total emissions by 2050, by commercialising fusion energy and collaborating with industry.
The company’s work builds on more than 50 years of research at Osaka University to develop the technology.
EX-Fusion planned to establish a presence in South Australia to leverage the state’s first mover advantage, backed by the state government’s $593 million Hydrogen Jobs Plan, along with a legislative framework and significant industry development and opportunities in the space, the government said in a media release.
The company also sees potential for biomedical industries and collaborations with SAHMRI 2, the Australian Bragg Centre for Proton Therapy and Research.
The Japanese company is slated to establish a wholly-owned subsidiary in South Australia by the end of 2023.
“South Australia’s world-leading renewable energy credentials align perfectly with EX-Fusion’s goal to support and grow the State’s hydrogen economy,” said Minister Champion.
“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,” he added.
In December 2022, EX-Fusion signed a memorandum of understanding with laser fusion firm HB-11 Energy and the University of Adelaide to assist and expedite laser and photonic research through shared facilities.
