Proxima Fusion, founded in Munich in 2023, has raised over €185M in funding to develop the world's first commercial stellarator-based fusion power plant. The recent €130M Series A funding, co-led by Cherry Ventures and Balderton Capital, will speed up the development of their Stellarator Model Coil aimed for completion in 2027. The company also aims to finalize a site for its Alpha demonstration stellarator, with operations starting in 2031, targeting Q>1 net energy gain. This round represents Europe's largest private fusion investment, leveraging existing research infrastructure and advanced technology.
"We see this funding round as a crucial milestone for Proxima Fusion, allowing us to accelerate the development of our Stellarator Model Coil and move towards commercial fusion power."
"Our innovative quasi-isodynamic stellarator design, combined with advanced superconducting technology, positions Proxima Fusion uniquely in the competitive landscape of fusion technology."
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