Investment in U.S.-Based Fusion Company SHINE Technologies

Strengthening Collaboration to Expand Near- to Mid-Term Businesses in Medical and Neutron
Imaging Fields and to Advance Future Fusion Power Deployment

NEW YORK, March 10, 2026 /PRNewswire/ -- Sumitomo Corporation (Head Office: Chiyoda-ku, Tokyo; President and CEO: Shingo Ueno) announced that it has made an investment, through Sumitomo Corporation of Americas (hereinafter collectively referred to as the "Sumitomo Corporation Group"), in SHINE Technologies ("SHINE"), a U.S.-based fusion¹ company engaged in the development of fusion-derived applications including medical isotopes², neutron imaging technologies³, nuclear waste recycling, and fusion energy.

The investment builds upon a Memorandum of Understanding (MOU) executed in January 2025, under which Sumitomo Corporation Group and SHINE have collaborated on business development in areas where commercialization is advancing, particularly in the expansion of medical isotopes and neutron sources generated through deuterium-tritium (D-T) fusion reactions, with a particular focus on Asian markets. The investment strengthens this collaboration by transitioning the relationship from an MOU framework to a strategic partnership supported by equity participation.

Sumitomo Corporation Group will work closely with SHINE to support the company's business development initiatives, deepen executive-level collaboration, and share strategic insights. Through this partnership, Sumitomo Corporation Group will help advance commercialization strategies, particularly in Japan and other Asian markets, while strengthening collaboration across SHINE's portfolio of businesses as it moves into its next stage of growth, including the commercialization of fusion-derived applications, the development of advanced technologies for nuclear waste recycling, and initiatives toward the future realization of fusion power generation.

Advancing Sumitomo Corporation Group's Long-Term Fusion Strategy

With a view to the future deployment of fusion energy, Sumitomo Corporation Group views fusion energy as an integrated value chain spanning research and development through the commercialization of related and derived technologies and is working to build an industrial foundation across a wide range of industries and applications.

In 2022, Sumitomo Corporation Group made its first investment in the fusion power sector in TAE Technologies and has since promoted collaboration between Japanese and U.S. companies to develop supply chains, related technologies, and commercialization foundations to support the social implementation of fusion energy.

This investment further advances these initiatives and represents a core component of the Group's fusion ecosystem strategy, which organically connects technology, industry, and markets. Beyond capital, Sumitomo Corporation Group will leverage its global network, industry relationships, and expertise in large-scale commercialization to support SHINE's growth.

"Our decision to invest was based on the achievements and strategic alignment realized through our MOU with SHINE. Through equity participation, we will move beyond exploratory collaboration and establish a stronger partnership that supports long-term value creation for both companies," said Tsutomu Sakamoto, General Manager of Energy Innovation Initiative Americas at Sumitomo Corporation of Americas. "The realization of fusion energy requires a robust ecosystem encompassing a broad range of fields, including materials, fuel cycles, advanced equipment, and related services. By fully leveraging the information, networks, and partnerships developed through this investment, we will support the development of that ecosystem."

About Sumitomo Corporation of Americas
Established in 1952, Sumitomo Corporation of Americas (SCOA) is the largest subsidiary of Sumitomo Corporation, an integrated trading company with a strong global network comprising 125 offices in 63 countries and regions. The Sumitomo Corporation Group consists of approximately 500 companies and 80,000 employees on a consolidated basis. The Group's business activities are spread across nine groups: Steel, Automotive, Transportation & Construction Systems, Diverse Urban Development, Media & Digital, Lifestyle Business, Mineral Resources, Chemical Solutions and Energy Transformation Business. Sumitomo Corporation is committed to creating greater value for society under the corporate message of "Enriching lives and the world," based on Sumitomo's business philosophy passed down for over 400 years.

Related Information:

Strategic Partnership Formed with SHINE Technologies to Explore the Deployment of Fusion-Derived Technologies and Medical Isotopes in Japan and Asia

¹Fusion is a reaction in which light atomic nuclei, such as hydrogen, fuse to form a slightly heavier nucleus such as helium, releasing a large amount of energy. Fusion power generation, which uses thermal energy produced by this reaction, is expected to serve as a next-generation baseload energy source because it does not emit greenhouse gases and offers stable fuel supply.
²Medical isotopes are radioactive isotopes used in the medical field for the diagnosis and treatment of diseases.
³Neutron imaging technology uses neutrons to analyze internal structures of materials and conduct non-destructive inspections. Similar neutron irradiation facilities can also be used for materials testing.

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SOURCE Sumitomo Corporation of Americas