Alpha by Proxima Fusion: status and timeline

Milestones

Next · Design phase complete; construction planning

Design phase complete; construction planningTarget 2026Current milestone.
Alpha construction beginsTarget 2027Not yet reached.
Alpha first plasma targetTarget 2030Not yet reached.

Upcoming

2026Design phase complete; construction planning (next)
2027Alpha construction begins
2030Alpha first plasma target

Current obstacles

Engineering scale-upMoving from research devices to demonstration and power scales is the primary engineering challenge.

Physics limits

Complexity of constructionStellarator coils are geometrically complex and harder to manufacture than tokamak coils, raising cost per megawatt.

How it works

1 part

Geometry

Twisted magnetic field

The stellarator uses a twisted coil geometry to confine plasma without relying on the plasma current itself, avoiding tokamak disruptions.

About Proxima Fusion

The team behind Alpha

Proxima Fusion

Stellarator fusion, Alpha demo, Stellaris power plant

Proxima Fusion builds stellarator fusion reactors. Founded in 2023 as the first research spin-off from the Max Planck Institute for Plasma Physics, it is developing Alpha, a demonstration facility in Germany, followed by Stellaris, a commercial fusion power plant.

In July 2026, Proxima raised €411 million in Series A funding, reaching €2.4 billion in valuation—the best-funded fusion company in Europe.
XTX Ventures and East X Ventures led the round, with strategic investments from RWE and Google.
The company has secured over €650 million in three years, including €95 million in public grants.

proximafusion.com (opens proximafusion.com)Company profile →

Founded: 20233 yrs
Headquarters: Germany
Status: Private
Valuation: $2.6BprivateJul 2026
Staff: ~200
Raised: $479M3 rounds
Last round: Series A (€411M) · $450MJul 2026
Works in: EnergyFusion
Coverage: 2 programs · 3 updateslatest 1 Jul 2026checked 10 Oct
Lead investors: XTX VenturesEast X VenturesredalpinePlural PlatformUVC Partners
Partners: Max Planck Institute for Plasma Physics (opens ipp.mpg.de)
Investors: RWE (opens rwe.com)Google (opens google.com)
People: Francesco Sciortino (opens proximafusion.com)CEO & Co-founder