Helical Fusion

What Helical Fusion does

Helical Fusion is a Japanese fusion energy startup founded in 2021 and officially incorporated on January 11, 2022 in Tokyo as a spin-off from the National Institute for Fusion Science (NIFS). It is developing a helical stellarator fusion reactor built on approximately 70 years of accumulated Japanese plasma-physics research, with a roadmap (the 'Helix Program') that runs from the Helix HARUKA integrated demonstration device — Phase 1 magnet validation underway at the NIFS campus in Toki, Gifu with a coil current test targeted for 2027 — to the Helix KANATA first commercial fusion power generation unit targeted for the 2030s. The company's core technology stack comprises a proprietary high-temperature superconducting (HTS) cable wound into non-planar helical coils (validated as a world-first under fusion-relevant conditions in October 2025), and a dual-function liquid-metal blanket/divertor system (with the proprietary GALOP test apparatus) co-developed with Mitsui Mining & Smelting. Helical Fusion is pre-revenue: it has signed Japan's first Power Purchase Agreement (PPA) for fusion-generated electricity with supermarket chain Aoki Super in December 2025 for delivery in the 2030s, but recognizes no current commercial revenue.

The company monetizes primarily through venture equity financing (cumulative ~JPY 9.8 billion / ~$65M USD across seed, Series A, Series A Extension, Series B 1st close, plus grants and loans) and large-scale Japanese government non-dilutive programs, including MEXT SBIR Phase 3 grant, Tokyo Metropolitan Government's Zero Emission Tokyo Innovation Promotion Project (up to JPY 10 billion over three years), Aichi Deeptech Launchpad (three consecutive years), and Gifu Prime Startup. Its go-to-market is enterprise/B2B/B2G long-dated offtake of fusion electricity via PPAs, augmented by an industrial coalition ('Helix Program Official Partners') of long-established Japanese manufacturers (NICHIAS, Hasetora Spinning, Seno Kisen, plus component suppliers Fujikura, Sugino Machine, RYOKI TOOL, Mitsui Kinzoku, Toshiba Energy Systems, Fujitsu Electric). Customer segments targeted include commercial/industrial electricity offtakers (retail, manufacturing), national/regional utilities and governments seeking clean baseload power, and resource-constrained geographies (MENA, island nations) where compact fusion could displace imported fossil fuels. Headcount is 11-50, with active international expansion including a US subsidiary and conference presence across MENA, Europe, Africa, and Asia-Pacific.

Name

Helical Fusion

Legal name

株式会社Helical Fusion (Helical Fusion Co., Ltd.)

Website

https://helicalfusion.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Helical Fusion is a Japanese fusion energy startup commercializing helical stellarator reactors using proprietary high-temperature superconducting magnets and liquid-metal blankets. Spun out from NIFS, it targets commercial fusion power in the 2030s via its Helix HARUKA demonstration device and Helix KANATA first commercial plant.

Ownership category

akta.pro rank

Product category

Fusion Energy / Nuclear Fusion Power Generation

NAICS

Semiconductor Machinery Manufacturing (333242), Power, Distribution, and Specialty Transformer Manufacturing (335311)

SIC

Electronic Coils, Transformers & Other Inductors (3677)

akta.pro primary industry

Gen IV / Advanced Reactor Systems (SFR, LFR, GFR, MSR, HTGR, Microreactors) (EUAKADAC)

akta.pro secondary industry

Reactor Vessel, Internals & Primary Circuit Components (RPV, piping, pumps, valves) (EUAKADAE)

Keywords

• Nuclear fusion energy
• Helical stellarator reactors
• High-temperature superconducting magnets
• Fusion power generation
• Liquid metal blanket systems

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Operations

Revenue model

1. Future fusion electricity sales (Power Purchase Agreements): Long-term PPAs for fusion-generated electricity; first signed with Aoki Super supermarket chain in Japan (Dec 2025) for delivery starting in the 2030s. Revenue not yet recognized; pre-commercial.
2. Government grants and subsidies: Non-dilutive funding from Japanese government programs: MEXT SBIR Phase 3, Tokyo Metropolitan Government 'Zero Emission Tokyo' Innovation Promotion Project (up to JPY 1 billion over three years, then expanded up to JPY 10 billion), Aichi Deeptech Launchpad, Gifu Prime Startup subsidy (up to JPY 10 million).
3. Venture capital and corporate equity financing: Multiple funding rounds: seed (~USD 6M, 2023 led by SBI Investment), Series A (JPY 2.3B / ~USD 15M, Jul 2025), Series A Extension (~JPY 870M / ~USD 5.5M, Dec 2025), Series B 1st close (~JPY 2.7B / ~USD 18M, Apr 2026). Cumulative funding incl. grants/loans ~JPY 9.8B (~USD 65M).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels10 records

Core offering

Helical Fusion is developing a commercial helical stellarator fusion reactor to deliver carbon-free baseload electricity via the Helix Program. Its core hardware offering consists of high-temperature superconducting (HTS) non-planar helical coils and a liquid-metal blanket/divertor system, integrated into the Helix HARUKA demonstration device (Phase 1 at NIFS Toki targeting 2027 power-on) and the future Helix KANATA commercial power generation unit targeted for the 2030s. The company is pre-revenue and currently monetizes through grants, equity financing, and long-dated PPAs for future fusion electricity delivery (first signed with Aoki Super in December 2025).

Product overview

Helical Fusion is a Japanese fusion energy startup offering a single integrated hardware platform built around the helical stellarator reactor concept. Its portfolio centers on the Helix Program, an end-to-end development roadmap whose flagship outputs are the Helix HARUKA integrated demonstration device (with Phase 1 magnet testing underway at NIFS in Gifu targeting a 2027 power-on test, and Phase 2 integrated verification to follow) and the Helix KANATA commercial power generation unit targeting practical fusion power in the 2030s. These products are enabled by two core technology modules developed in-house: the High-Temperature Superconducting (HTS) Magnet (which achieved a world-first demonstration under fusion-relevant magnetic conditions in October 2025) and the Blanket/Divertor System (a liquid-metal blanket, validated through the proprietary GALOP test equipment). Supporting these is a custom HTS coil manufacturing machine built with Sugino Machine, and the broader Helical-type (Helical Stellarator) Nuclear Fusion Reactor architecture inherited from approximately 70 years of Japanese national fusion research.

Differentiator

Problem solved

Functional benefit

Brands

• Helix Program (ヘリックス計画): The company's branded development roadmap aiming for the world's first commercial fusion power plant by the 2030s, comprising Helix HARUKA (integrated demonstration device) and Helix KANATA (first commercial power unit).
• Helix HARUKA
• Helix KANATA

Products and services

• Helix HARUKA (Integrated Demonstration Device) Helix HARUKA is Helical Fusion's final integrated demonstration device for the Helix Program. Phase 1 (NIFS Toki site) focuses on assembling and current-testing three-dimensional helical-structure high-temperature superconducting (HTS) coils with a power-on test planned for 2027. Phase 2 targets integrated verification including HTS magnets and the blanket/divertor system to confirm technical viability for the Helix KANATA commercial unit, with demonstration operations aimed for approximately 2030. Intended for fusion R&D stakeholders, NIFS, and demonstration validation.
• Helix KANATA (First Commercial Fusion Power Generation Unit) Helix KANATA is Helical Fusion's first commercial power generation unit, designed to achieve the world's first practical fusion power generation meeting all three commercial requirements — steady-state operation, net electricity output, and maintainability. Targeted for delivery to commercial/industrial off-takers (e.g., Aoki Super) in the 2030s with an interim target of net-power steady-state operation by 2034. A scale model has been publicly exhibited. Intended for commercial/industrial electricity off-takers and national/regional utilities.
• Helical-type (Helical Stellarator) Nuclear Fusion Reactor The foundational reactor design Helical Fusion develops, based on approximately 70 years of Japanese national research including the Large Helical Device (LHD) at NIFS. The helical stellarator is positioned as the only approach currently able to meet the three commercial fusion reactor requirements (steady-state operation, net electricity output, and maintainability) using existing technology. Helical Fusion is described as the only private company leveraging this research.
• High-Temperature Superconducting (HTS) Magnet System Proprietary high-temperature superconducting magnet system designed to confine plasma in the helical stellarator. Uses stacked HTS tape wire (from suppliers including Fujikura) bundled in flexible tubes to produce a spiral-shaped, highly bendable cable. In October 2025, Helical Fusion completed the world's first successful demonstration of an HTS coil under fusion-relevant magnetic conditions (cryogenic temperature of -253°C, 8 Tesla magnetic field, 19 kA current). A core enabling technology for the Helix HARUKA and Helix KANATA devices.
• Blanket / Divertor System (Liquid Metal Blanket) Combined blanket and divertor system using flowing liquid metal as the heat-removal mechanism inside the fusion reactor. The blanket extracts energy as heat, breeds tritium fuel, and protects surrounding components from neutrons. A proprietary liquid metal blanket test device called GALOP has been installed. Being developed in partnership with Mitsui Mining & Smelting, RYOKI TOOL, and others, including beryllium material sourcing from MiRESSO. A core enabling technology for the Helix HARUKA and Helix KANATA devices.
• Custom HTS Coil Manufacturing Machine Custom-built machine developed in collaboration with Sugino Machine Limited to wind Helical Fusion's proprietary HTS cables into spiral-shaped coils for the Helix HARUKA demonstration device. Enables efficient production of high-performance HTS coils and supports the on-site assembly of Helix HARUKA scheduled to begin in 2026. Intended for in-house coil production and supply to industrial manufacturer partners.
• GALOP (Liquid Metal Blanket Test Equipment) Helical Fusion's proprietary liquid metal blanket test device installed to validate liquid metal circulation and blanket performance, supporting the development of the commercial blanket/divertor system for Helix HARUKA and Helix KANATA. Used as a test bed for the Tokyo Metropolitan Government Zero Emission Tokyo blanket development program.
• Fusion Electricity Offtake (Long-term PPA) Long-term Power Purchase Agreements (PPAs) for fusion-generated electricity to be produced by Helix KANATA. The first PPA was signed with Aoki Super supermarket chain in December 2025 for delivery starting in the 2030s; volume target is tens of megawatts of fusion power as early as mid-2030s. Targeted at commercial/industrial electricity off-takers seeking carbon-free 24/7 baseload power.

Quantifiable outcome

• ~JPY 9.8 billion (~$65M USD) total funding incl. grants/loans as of April 2026
• +4 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

15 partnerships are on record, tiered flagship (helix program official partner #1), flagship (helix program official partner #2), flagship (helix program official partner #3), strategic (blanket co-development partner + investor), strategic (key materials supplier), strategic (co-development partner), strategic (precision manufacturing partner), strategic (hts current lead joint development), strategic (power supply partner), flagship (founding research partner), strategic (academic r&d partner), minor (research collaboration), minor (r&d partner), minor (materials partnership) and flagship (japan's first fusion ppa off-taker).

• NICHIAS Corporation (ニチアス)flagship (helix program official partner #1)Strategic or Co-development PartnerJoined Helical Fusion's Helix Program Official Partners industrial coalition (announced April 2026) as a founding partner, with both capital commitment via Series B and active industrial collaboration. Participated in the Tokyo Helix Program Partnering Event.
• Hasetora Spinning Co., Ltd. (長谷虎紡績)flagship (helix program official partner #2)Strategic or Co-development PartnerFounded in the Meiji era; joined Helix Program Official Partners (April 2026) as a founding partner with Series B capital commitment and active collaboration; CEO Kyoji Haseya participated in Tokyo partnering event and 全国知識製造業会議2026 panel.
• Seno Kisen Co., Ltd. (瀬野汽船)flagship (helix program official partner #3)Strategic or Co-development PartnerFounded in Ehime; joined Helix Program Official Partners (April 2026) as a founding partner with Series B capital commitment and active industrial collaboration.
• Mitsui Mining & Smelting Co., Ltd. (三井金属鉱業)strategic (blanket co-development partner + investor)Strategic or Co-development PartnerOriginally invested via Mitsui Kinzoku Corporate Venture Capital (2023); later signed a joint development agreement (April 2025) to co-develop the liquid-metal 'blanket' for commercial fusion power plants. Combines 150 years of non-ferrous metals/material expertise with Helical Fusion's fusion know-how.
• Fujikura Ltd. (フジクラ)strategic (key materials supplier)Technology or IntegrationGlobal leader in rare-earth HTS tape wire; supplies HTS tape wire that Helical Fusion uses for its proprietary helical HTS magnet. Agreed on additional procurement (April 2025) to build a strategic-supply chain for fusion commercialization; tens of thousands of km procurement planned.
• Sugino Machine Limited (杉野機械)strategic (co-development partner)Strategic or Co-development PartnerTechnical collaboration to develop a custom coil manufacturing machine that winds Helical Fusion's proprietary HTS cables into spiral-shaped coils for the Helix HARUKA device. Machine completed February 2026.
• RYOKI TOOL / Hondou Metal Mold Industry (菱輝金型工業)strategic (precision manufacturing partner)Strategic or Co-development PartnerAichi-based precision metalworking manufacturer (aerospace/automotive molds). Completed all 10 coil case parts for Helix HARUKA and a prototype breeding blanket component (March 2026). Also active in Aichi Deeptech Launchpad collaboration on blanket prototype.
• Toshiba Energy Systems (東芝エネルギーシステムズ)strategic (hts current lead joint development)Strategic or Co-development PartnerSigned a basic contract for joint development of HTS coil current leads - a critical component for fusion power plants.
• Fujitsu Electric (富士電機)strategic (power supply partner)Technology or IntegrationContracted to supply power-supply units (a key component) for Helical Fusion's HTS magnet development for commercial fusion power plants.
• National Institute for Fusion Science (NIFS) / 自然科学研究機構 核融合科学研究所flagship (founding research partner)Strategic or Co-development PartnerOrigin institution: Helical Fusion was spun out from NIFS in 2021. Established the 'HF Joint Research Group' (HF共同研究グループ) on the NIFS campus in Toki, Gifu with dedicated experimental space (2024). NIFS is the site of Helix HARUKA Phase 1 construction and the planned 2027 coil current test. Joint research agreement renewed April 2026.
• Tohoku University Institute for Materials Researchstrategic (academic r&d partner)Strategic or Co-development PartnerJointly developed new metallic materials for fusion reactors (announced January 2024).
• Fukuoka Universityminor (research collaboration)Strategic or Co-development PartnerJoint research on the world's first construction of 'fusion ethics' (核融合倫理) framework.
• University of Fukui - Far-Infrared Region Development Research Centerminor (r&d partner)Strategic or Co-development PartnerJoint research on miniaturization and usability improvements of high-power electromagnetic-wave source gyrotrons for fusion.
• MiRESSOminor (materials partnership)Strategic or Co-development PartnerBusiness partnership for beryllium, a rare-metal candidate material for the 'blanket' that extracts energy in fusion reactors.
• Aoki Super Co., Ltd. (アオキスーパー)flagship (japan's first fusion ppa off-taker)OthersNagoya-based supermarket chain (~50 stores in Aichi Prefecture). Signed Japan's first Power Purchase Agreement (PPA) for fusion-generated electricity with Helical Fusion (Dec 2025) for delivery in the 2030s; also an equity investor (since July 2024). Represents first commercial offtake of fusion energy in Japan.

Scale indicators9 records

Recent moves7 records

Expansion highlights7 records

Broad incumbents

• TAE Technologies: US-based fusion company pursuing field-reversed configuration (FRC) with particle beam heating. Broader incumbent in private fusion targeting commercial electricity generation by the early 2030s; comparable as a similarly-staged private fusion competitor.
• Mitsubishi Heavy Industries: Major Japanese industrial conglomerate with extensive nuclear and fusion engineering capabilities, including participation in ITER and DEMO reactor design studies. Comparable as a broader Japanese nuclear/fusion incumbent that could be a partner or competitor in commercial fusion deployment.
• Tokamak Energy: UK-based private fusion company developing spherical tokamak technology with HTS magnets. Comparable as another magnetic confinement fusion company using HTS coils, but pursuing a tokamak rather than stellarator architecture.
• General Fusion: Canada-based private fusion company pursuing magnetized target fusion (MTF) with steam-piston plasma compression. Comparable as a similarly-staged private fusion developer targeting commercial demonstration within the same horizon.
• Commonwealth Fusion Systems: US-based leading private fusion company pursuing a compact tokamak design with HTS magnets. Well-capitalized (over $2B raised) and targeting commercial operation around the same time horizon; serves as the leading benchmark for private fusion company scale and execution.
• Helion Energy: US-based fusion company developing pulsed field-reversed configuration (FRC) fusion with direct electricity generation. Comparable as a similarly-staged private fusion competitor that has also signed long-dated electricity offtake agreements with major customers (e.g., Microsoft).

Emerging players

• Renaissance Fusion: French startup developing stellarator-based fusion with HTS magnets, building on the legacy of the German Wendelstein 7-X project. Comparable as an emerging stellarator peer with similar technical thesis but earlier stage.

Direct peers

• Proxima Fusion: Germany-based stellarator fusion startup spun out of the Max Planck Institute for Plasma Physics, developing quasi-isodynamic stellarator designs with HTS magnets. Directly comparable as a privately funded European stellarator company competing in the same target market.
• Type One Energy: US-based fusion startup also pursuing the stellarator architecture using high-temperature superconducting magnets. It is the closest direct peer to Helical Fusion, building on similar physics foundations and targeting commercial fusion power in the early 2030s.

Others

• Toshiba Energy Systems & Solutions: Existing strategic partner of Helical Fusion for HTS coil current lead joint development. Also a major Japanese manufacturer of nuclear and fusion-related equipment including ITER components, making it both a partner and adjacent industry participant.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xyoutube.com/@HelicalFusion
• YouTubeyoutube.com/@HelicalFusion
• Facebookfacebook.com/helicalfusion
• LinkedInlinkedin.com/company/helical-fusion

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors32 records

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M&A

Investments

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Frequently asked questions about Helical Fusion