{"id":110271,"date":"2025-06-12T15:34:00","date_gmt":"2025-06-12T13:34:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=110271"},"modified":"2025-06-12T10:24:40","modified_gmt":"2025-06-12T08:24:40","slug":"proxima-fusion-series-a","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/110271\/proxima-fusion-series-a\/","title":{"rendered":"130 million euros for Proxima Fusion"},"content":{"rendered":"
\n

Proxima Fusion, a spin-off from the Max Planck Institute for Plasma Physics, has raised \u20ac130 million in its Series A financing round. The round is the largest private investment in fusion energy in Europe. It was led by Cherry Ventures and Balderton Capital, with participation from UVC Partners, Deeptech & Climate Fonds, Plural, Leitmotif, Lightspeed, and Bayern Kapital. Other investors include Club degli Investitori, Omnes Capital, and Elaia Partners.<\/p>\n\n\n\n

After Seed financing<\/a> About a year ago, the company now has more than 185 million euros in public and private funding. CEO Francesco Sciortino<\/strong> explained:<\/p>\n\n\n\n

\n

"Fusion marks a turning point: It enables us to replace our current dependence on natural resources with a stronger focus on technological leadership, thus opening up new growth and competitive potential. Proxima is perfectly positioned to capitalize on this momentum: We are bringing together a spectacular engineering and manufacturing team with world-leading research institutions, thus accelerating the path to the first European fusion power plant in the next decade."<\/p>\n<\/blockquote>\n\n\n\n

Stellarator \u201cAlpha\u201d planned for 2031<\/h2>\n\n\n\n

Proxima Fusion is pursuing a simulation-based approach<\/a> with high-temperature superconducting technology (HTS). The basis is the Wendelstein-7-X experiment at IPP. At the beginning of the year, Proxima, together with IPP, KIT, and other partners, presented the "Stellaris" stellarator concept, which integrates physical, technical, and maintenance-related requirements.<\/p>\n\n\n\n

Daniel Waterhouse<\/strong> from Balderton Capital says:<\/p>\n\n\n\n

\n

"Stellarators are not only the most technologically viable approach to fusion energy\u2014they are the power plants of the future that can lead Europe into a new era of clean energy. Proxima has firmly secured its position as a leading European contender in the global race for commercial fusion. We are delighted to be working with Proxima's groundbreaking engineering team and Europe's leading manufacturers to build a company that will transform Europe."<\/p>\n<\/blockquote>\n\n\n\n

With the fresh capital, the Munich-based startup plans to develop a model coil by 2027 that will make HTS technology usable in stellarators. At the same time, the site search is underway for the demonstration stellarator "Alpha," which is scheduled to go into operation in 2031 and achieve net energy gain (Q>1).<\/p>\n\n\n\n

Sciortino <\/strong>emphasizes:<\/p>\n\n\n\n

\n

"Fusion energy is entering a new era, making the leap from the laboratory to industry. This new funding validates our approach and gives us the resources to deliver the hardware essential to making clean fusion energy a reality."<\/p>\n<\/blockquote>\n\n\n\n

Munich as a European center for fusion technology<\/h2>\n\n\n\n

With locations in Munich, the Paul Scherrer Institute near Zurich, and the Culham Fusion Campus near Oxford, Proxima Fusion is further expanding its 80-person team. Collaborations with leading research institutions and support from European governments are laying the foundation for a new high-tech energy industry in Europe, according to the startup.<\/p>\n\n\n\n

Filip Dames<\/strong> from Cherry Ventures summarizes: <\/p>\n\n\n\n

\n

"Proxima Fusion combines Europe's scientific leadership with commercial ambition. This is deep tech at its finest and a clear signal that Europe can take a leading role on the world stage."<\/p>\n<\/blockquote>\n<\/div>","protected":false},"excerpt":{"rendered":"

The Munich-based startup Proxima Fusion has secured \u20ac130 million in a Series A financing round\u2014a record sum for European fusion energy. 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