Proxima Fusion has raised €130 million Series A funding to develop the world's first stellarator-based commercial fusion power plant, aiming to drive Europe towards a new era of clean energy.

Information on the Target

Proxima Fusion is a pioneering fusion energy company based in Munich, Germany. Established in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics (IPP), Proxima Fusion aims to develop the world's first stellarator-based commercial fusion power plant. The company has successfully secured a total funding of over €185 million ($200 million), bolstered by a recent €130 million ($150 million) Series A financing round—marking the largest private investment in the fusion sector in Europe.

Led by CEO and Co-founder Francesco Sciortino, Proxima Fusion’s mission is to transition global energy dependencies from traditional natural resources to innovative technological solutions. The firm collaborates closely with premier research institutions to position itself at the forefront of Europe's clean energy transformation.

Industry Overview in Germany

Germany has long been a leader in fusion research, with a strong commitment to developing clean energy technologies. The country's energy policies increasingly recognize fusion energy as a viable