Europe’s nuclear fusion potential draws record investment round

A German start-up, Proxima Fusion, has raised a record €130 million in funding to advance its fusion energy technology, focusing on developing a stellarator device, which is seen as a viable alternative to traditional tokamaks. This investment, led by Cherry Ventures and Balderton Capital, positions Proxima as a potential leader in fusion power, aiming to construct a unique magnet by 2027 and a demonstration plant by 2031, as emphasized by CEO Francesco Sciortino. With strong governmental support and a commitment to innovation, Proxima seeks to ensure Europe remains at the forefront of fusion research.

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