The 77 Bank decided to invest in クリーンプラネット, a startup originating from Tohoku University, and subscribed to its private placement. The investment amount is estimated to be tens of millions of yen. The investment in the company, which is advancing research into thermal energy using cold fusion, has been disclosed.
The 77 Bank invested in クリーンプラネット, a startup originating from Tohoku University, through Fund No. 3 formed with its subsidiary 77 Capital. The investment amount is estimated to be tens of millions of yen, and the bank subscribed to the company's private placement.
Established in 2012, クリーンプラネット engages in research and development of quantum hydrogen energy, which generates thermal energy using specially processed metals and hydrogen. The technology uses a cold-fusion mechanism and is characterized as producing neither carbon dioxide nor radiation.
The company plans to establish a new facility early in the new year in preparation for mass production, and the funds raised are expected to be used to develop the facility and for other purposes. It will conduct joint research with Tohoku University, initially targeting commercialization as a heat source for industrial boilers.