MiRESSO Co.,Ltd. (Headquarters: Misawa City, Aomori Prefecture; CEO: Masaru Nakamichi; hereinafter referred to as “MiRESSO”), a startup aiming to contribute to the social implementation of fusion through the stable supply of mineral resources, has successfully raised ¥250 million in its first external funding round. The lead investor is Genesia Ventures, with additional investments from JGC MIRAI Innovation Fund L.P. (JGC Mirai Investment Business Limited Partnership / General Partner: Global Brain Corporation) and MITSUI SUMITOMO INSURANCE Venture Capital Co., Ltd.. MiRESSO is a fusion startup certified by the National Institutes for Quantum Science and Technology (hereinafter referred to as “QST”).
Background and Purpose of Funding
Business Background
Fusion reactors are power generation systems that extract electrical energy from fusion energy using deuterium and tritium (triple hydrogen) in a plasma state as fuel. However, since tritium is almost non-existent in nature, it must be self-produced within devices called blankets that surround the plasma. To self-produce tritium, a large amount of beryllium (Be), a neutron multiplier that increases fusion neutrons from one to two, is required.
However, there are significant challenges in procuring beryllium. The current price of beryllium is extremely high, and the amount required for a single fusion prototype reactor exceeds the total global production, leading to a severe shortage. Therefore, securing beryllium cheaply and stably is considered one of the critical challenges for realizing fusion prototype reactors, which are currently under design for construction.
MiRESSO’s Low-Temperature Refining Technology
Masaru Nakamichi, CEO of MiRESSO, and others at QST have been advancing research and development to reduce the cost of beryllium refining. They have successfully developed a new low-temperature refining technology using a combination of chemical processing and microwave heating (patent pending). Traditional beryllium refining required high-temperature heat treatment at 2,000°C during the dissolution process of beryllium ore, which is difficult to dissolve. In contrast, the newly developed low-temperature refining technology can easily dissolve beryllium ore (beryl) at a low temperature of 300°C and atmospheric pressure, enabling beryllium refining at an overwhelmingly low cost and energy-saving manner. Through this technology, MiRESSO aims to solve the challenges related to beryllium procurement in fusion and contribute to the social implementation of fusion through the stable supply of mineral resources.
the low-temperature refining process
Purpose of Funding
- Accelerating the Pilot Demonstration of Beryllium Refining MiRESSO was selected for a ¥2 billion SBIR Phase 3 grant (fusion field) by the Ministry of Education, Culture, Sports, Science and Technology (MEXT) in October 2023
(https://miresso.co.jp/2023/10/16/miresso_selected_japansbir_oct2023/)
As a scale-up demonstration of the low-temperature refining technology, MiRESSO is advancing the construction and demonstration of a pilot plant with a beryllium production capacity of 1 ton/year, targeting 2027. This funding will accelerate the above pilot plant demonstration. - Strengthening the Team To expand the business in the future, MiRESSO plans to hire personnel for CXO positions, business development, plant engineering, research, and technology development, strengthening the team structure.
- Launching the Technology Platform Business MiRESSO’s low-temperature refining technology can be applied to the refining and recycling processes of other rare metals and rare earths that require high-temperature treatment. Therefore, MiRESSO will start a technology platform business that conducts research and development according to the materials and challenges handled by customers, proposes processes to realize them, introduces equipment, and licenses technology.
Comments from CEO Masaru Nakamichi
We are very pleased to receive investment from such reliable investors. Based on the funds raised, we will accelerate the pilot plant demonstration and start the technology platform business. In the future, we plan to expand partnerships with companies interested in the beryllium business and the technology platform business. We are also looking for partners who sympathize with our business and would like to work together, so please feel free to contact us.
The List of Investors
■Genesia Ventures Partner
https://www.genesiaventures.com/en/top-en/
■ JGC Corporation
■JGC MIRAI Innovation Fund (JGC Mirai Investment Business Limited Partnership)
■Mitsui Sumitomo Insurance Capital Co., Ltd.
https://www.msivc.co.jp/