Proxima Fusion, a German startup, has raised €130 million in Series A funding, totaling over €185 million to date. This positions it well in the competitive fusion energy sector alongside significant U.S. firms. The company is focusing on stellarators, which offer a more stable alternative to traditional tokamaks, potentially paving the way for a commercial fusion power plant. Proxima's CEO envisions substantial developments in fusion energy by the early 2030s, which will enhance global energy security, making it a critical area of investment.
"Wait for the early 2030s and you will see fusion giants in each geopolitical block," Proxima's CEO Francesco Sciortino predicted.
The funding reflects reaching a milestone in half the time promised to investors, showcasing Proxima's progress in fusion technology.
Proxima's plans focus on stellarators, which offer stability and do not require plasma currents, differentiating them from traditional tokamaks.
Proxima's funding exceeds €185 million, positioning it as a strong contender in the European fusion race, critical for energy security.
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