Mizuho buys stake in fusion power tech firm Zap Energy

Mizuho said that this is part of its bid for carbon neutrality.

Mizuho Financial Group has bought a stake in US firm Zap Energy through its innovation firm Mizuho Innovation Frontier.

Zap Energy develops fusion power and related technology. It is a spin-off of a research institution jointly funded by the University of Washington and Lawrence Livermore National Laboratory.

The Japanese megabank said that the investment is part of its pursuit of carbon neutrality.

“In fusion power generation, a colossal amount of energy is created by the fusion of light atomic nuclei to produce heavier ones. This power generation method is a potential game changer for the clean energy transition, as greenhouse gases are not emitted and it is a sustainable energy source,” Mizuho said in a press release announcing its investment.

Mizuho did not specify how big of a stake it bought, or how much it invested in Zap Energy.