What does Proxima Fusion do?
Proxima Fusion is dedicated to developing fusion energy solutions by leveraging advanced computing and high-temperature superconducting technologies to build the first generation of stellarator fusion power plants.
How much did they raise?
The company raised €130m in a Series A round led by Cherry Ventures and Balderton Capital, with additional participation from investors including UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, Omnes Capital, Elaia Partners, Visionaries Tomorrow, Wilbe, and redalpine.
What are their plans for the money?
Proxima Fusion plans to use the funding to expand its operations and scale up its development efforts, potentially advancing the commercialization of fusion energy and strengthening public-private partnerships with institutions like the Max Planck Institute for Plasma Physics.
What have they achieved so far?
The company has already built on the outcomes of the IPP’s Wendelstein 7-X stellarator experiment and, in collaboration with leading research institutions, released Stellaris—a comprehensive stellarator concept that integrates engineering and maintenance considerations.
