The Japanese company, EX-Fusion, plans to produce a revolutionary source of green energy – the company will establish its international presence in South Australia, fuelling the State’s position as a global hydrogen leader.
EX-Fusion is developing cutting-edge laser fusion technology – fusing hydrogen isotopes – to produce safe, sustainable, and reliable energy for power generation.
EX-Fusion Technology CEO, Dr Kazuki Matsuo, said, “EX-Fusion has chosen South Australia to head up its operations in Australia for its proximity to innovative high-tech industries, its agile market access capabilities and the ability to work closely with government and research in a dedicated incubator environment.”
Trade and Investment Minister Nick Champion was at the Australia-Japan Business Co-Operation Committee Joint Conference for the announcement in Melbourne overnight.
Laser fusion energy is being touted as a gamechanger to achieving Australia’s target of carbon neutrality by 2050, helping to respond to load fluctuations and meet market demands, while decarbonising existing energy sources.
By commercialising fusion energy and working with industry, EX-Fusion aims to reduce carbon emissions by approximately 14.49 billion tonnes – equivalent to two per cent of the world’s total emissions by 2050.
The company, led by Dr Kazuki Matsuo, draws on more than 50 years of research at Osaka University to develop the technology, which is increasingly sought after.
Invest SA has been working closely with EX-Fusion who was attracted to South Australia through its first mover advantage, backed by the Malinauskas Labor Government’s $593 million Hydrogen Jobs Plan along with legislative framework and significant industry development and opportunities in the space.
The company also sees potential for bio-medical industries and collaborations with SAHMRI 2, the Australian Bragg Centre for Proton Therapy and Research.
The company will set up a wholly owned subsidiary, expected to be operational in South Australia by the end of the year.
To help prepare for the move, 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.