German startup Proxima Fusion has raised a landmark €130 million (~$148 million) in Series A funding, making it the largest early stage investment in a European fusion energy venture to date.
The capital will be used to accelerate the company’s plans to deliver the continent’s first commercially viable fusion energy facility.
From Physics Lab to Industrial Reality
Spun out of the prestigious Max Planck Institute for Plasma Physics, Proxima Fusion is pioneering the development of stellarator-based fusion reactors an alternative to traditional tokamak systems.
Stellarators offer enhanced plasma stability, which is critical for long duration energy generation.
“This marks a fundamental shift from theoretical research to scalable energy engineering,” said Dr. Francesco Sciortino, CEO and co-founder. “Our goal is to turn decades of scientific progress into tangible infrastructure.”
Investor Confidence Soars
The funding round was led by Redalpine, with strong participation from HV Capital, BMW i Ventures, UVC Partners, and High Tech Gründerfonds. Returning backers such as Plural, BlueYard Capital, and TA Ventures also recommitted.
Cherry Ventures partner Filip Dames commented, “This is proof that Europe has the talent, vision, and determination to lead the global energy transition.”
Clear Path to Commercialization
Proxima Fusion aims to:
- Complete a Stellarator Model Coil by 2027
- Build a €1 billion prototype power plant by 2031
- Launch a commercial fusion reactor in the 2030s
The company’s advanced design draws inspiration from the Wendelstein 7-X, the world’s most sophisticated stellarator, while leveraging modern advancements in superconducting magnets and AI-assisted design optimization to streamline complexity and cost.
Fusion: The Future of Clean Energy
Unlike conventional nuclear power, fusion generates energy by combining atoms, producing no long term radioactive waste and eliminating meltdown risks.
If successful, Proxima’s efforts could lead to a new era of zero-emission, reliable base-load electricity transforming both energy markets and climate policy across Europe.
