Stellaris by Proxima Fusion: status and timeline

Milestones

Next · Stellaris planned after Alpha success

Stellaris planned after Alpha successTarget 2030Not yet reached.

Upcoming

2030Stellaris planned after Alpha success (next)

About Proxima Fusion

The team behind Stellaris

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