# Fusion Fuel Cycles funding: rounds and investors

> Fusion Fuel Cycles has raised $15M across 1 round since 2025. Investors include MUFG Bank. Every round with its source.

Source: https://millionrounds.com/company/fusion-fuel-cycles (Millionrounds; every figure on the page links to its filing or article)

Canada · [Funded startup](https://millionrounds.com/companies)

# Who invested in *Fusion Fuel Cycles*

One round we have observed, with the one investor named in it. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy

Funding summary Updated 26 Oct 2026

**$15M** raised across 1 round since 2025, from 1 source

- **Latest round:** Debt, $15M Sept 2025
- **Investors:** 1

See who backed them

## The rounds

- **Sept 2025** Debt **$15M** [MUFG Bank](https://millionrounds.com/fund/mufg-bank) Source recorded

## Founders and team

From Fusion Fuel Cycles's own website: 8 on the team.

- **Ian Castillo** Co-Chief Executive Officer
- **Kiyoshi Seko** President and Chief Operating Officer
- **Satoshi Konishi** Chief Executive Officer
- **Yuhei Nozoe** Co-Chief Executive Officer
- **Sean Bovingdon** Chief Financial Officer and VP of Corporate Services
- **Christian Day** Chief Technical Officer
- **Matthew Cloutier** Chief Operating Officer
- **Sam Suppiah** Chief Scientist

## Everyone who backed them

[MUFG Bank](https://millionrounds.com/fund/mufg-bank) Investment firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=fusion-fuel-cycles).

## Quick answers about Fusion Fuel Cycles

### Who invested in Fusion Fuel Cycles?

Fusion Fuel Cycles's investors include MUFG Bank.

### How much has Fusion Fuel Cycles raised?

Fusion Fuel Cycles has raised $15M across 1 round since 2025.

### When did Fusion Fuel Cycles last raise?

Fusion Fuel Cycles's most recent round was a Debt of $15M in Sept 2025.

### What was Fusion Fuel Cycles's biggest round?

Its most recent round, $15M in Sept 2025, is also its largest on record.

### Who backed Fusion Fuel Cycles first?

Fusion Fuel Cycles's first round on record, in Sept 2025, was backed by MUFG Bank.

### What stage is Fusion Fuel Cycles at?

Fusion Fuel Cycles's latest named round is a Debt, in Sept 2025.

### Where is Fusion Fuel Cycles based?

Fusion Fuel Cycles is based in Canada.

## Companies like Fusion Fuel Cycles

In the same sector, and raised in the last eighteen months.

[**Kanin Energy** $100M · Sept 2026](https://millionrounds.com/company/kanin-energy)[**Summit Nanotech** $3.0M · Sept 2026](https://millionrounds.com/company/summit-nanotech)[**General Fusion** $241M · Jul 2026](https://millionrounds.com/company/general-fusion)[**NORAM Electrolysis Systems Inc** $4.0M · Jun 2026](https://millionrounds.com/company/noram-electrolysis-systems-inc)[**Foremost Clean Energy** $35K · Jun 2026](https://millionrounds.com/company/foremost-clean-energy)[**Full Circle Lithium** $3.5M · Jun 2026](https://millionrounds.com/company/full-circle-lithium)

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