The Munich-based deeptech company Marvel Fusion has Series B to a total of 113 million euros. The newly acquired financing of 50 million euros comes from EQT Ventures, Siemens Energy Ventures, and the European Innovation Council (EIC) Fund. Existing investors Tengelmann Ventures and Bayern Kapital also participated again.
With this expansion, the company says its total funding raises to €385 million. Of this, €170 million is from private investments and €215 million from public collaborations. The funds are intended to support Marvel Fusion in its transition from the research and development phase to industrial deployment.
Marvel Fusion is working on a new Fusion technology, which could significantly accelerate the commercialization of fusion energy as an energy source. A $150 million laser facility is currently being built in collaboration with Colorado State University, representing an important milestone on this path.
Strategic partnerships for a new energy future
Another key aspect of the company's strategy is the industrial partnership with Siemens Energy. The two companies are jointly developing a concept for a fully integrated fusion power plant. Juha Pankakoski, Executive Vice President Global Functions at Siemens Energy, explains:
"We have been involved in Marvel Fusion for a long time, contributing our expertise, and we look forward to continuing our work together. We hope to see this important technology become a reality and enable a reliable energy supply. When that day comes, Siemens Energy will be at the forefront."
The European Innovation Council also sees fusion energy as a strategic technology for Europe’s future. Svetoslava Georgieva, Chair of the EIC Fund’s Board of Directors, stresses:
“The participation of the European Innovation Council in the Fund is a significant step forward, underlining the EIC’s commitment to high-impact innovations from private fusion companies and reflecting the position of fusion technology as a strategic technology for Europe.”
Moritz von der Linden, founder and CEO of Marvel Fusion, says:
"It is fantastic to welcome the EIC Fund, EQT Ventures, and Siemens Energy to our shareholder board; this gives us the financial and operational support to achieve the necessary milestones toward building the world's first fusion prototype."
