Proxima Fusion Lands ‍€130M for Stellarator Fusion Reactor

⁤ Updated June 12, 2025

German startup Proxima ‍fusion has secured €130 million in Series A‍ funding, the largest private investment in European fusion power to date. Investors include Balderton Capital, Cherry Ventures, and Plural.

The Munich-based company aims to advance stellarator technology,a type of fusion machine that uses twisted magnetic fields to contain superheated plasma. This approach offers potential advantages⁣ over tokamaks, the more common technology used in projects like ITER.

Daniel waterhouse,a partner ⁢at Balderton Capital,considers Proxima⁣ Fusion a leading European contender in the global race for commercial fusion energy.

Unlike tokamaks, stellarators can theoretically operate continuously without ⁢breaks, making them a promising option for future fusion ⁢reactors.Francesco Sciortino, co-founder and CEO ⁢of Proxima Fusion, ⁤believes stellarators are the only fusion technology guaranteeing continuous operation.

While stellarators were initially shelved⁣ due to engineering complexity,⁤ advances in AI-powered simulations are helping Proxima Fusion overcome these challenges. ian Hogarth, a partner at Plural, believes Proxima’s stellarator design positions⁣ Europe‍ to lead in⁤ fusion technology.

Proxima Fusion plans to complete its first demo device, Alpha, in six years. This will lay the groundwork for Stellaris, a 1GW ⁢fusion reactor the company hopes⁣ to power up in the 2030s. Type One Energy, backed‍ by Bill Gates, is also pursuing⁤ stellarator technology with similar timelines.

“While they are harder to design, we believe that stellarators will leapfrog tokamaks as they are⁤ easier to operate and are more suitable for power plants,” Sciortino said.

What’s next

With this funding, Proxima Fusion aims to accelerate the growth of its stellarator technology, contributing to Europe’s energy security and possibly positioning the continent as a leader in the commercial fusion energy landscape.