# Proxima Fusion raises €411 million at a €2.4 billion valuation for its stellarator programme

Canonical page: https://technooptimist.io/stories/proxima-fusion-raises-411-million-at-a-2-4-billion-valuation-for-its-65ceb1bd
Date: 7 Jul 2026
About: [Proxima Fusion](https://technooptimist.io/companies/proxima-fusion.md) · [Stellaris](https://technooptimist.io/energy/stellaris.md)
Original source: https://www.proximafusion.com/press-news/proxima-fusion-raises-eu411-million-to-build-europes-commercial-fusion-champion

On July 7, 2026, Proxima Fusion announced a €411 million round, about $468 million, valuing the German stellarator developer at €2.4 billion. The money is for completing the Stellarator Model Coil and expanding production of high-temperature superconducting cable and magnets.

## Key facts

- XTX Ventures and East X Ventures led the round; RWE and Google joined as strategic investors.
- The funds go to completing the Stellarator Model Coil, expanding high-temperature superconducting cable and magnet production, and building the engineering and manufacturing systems stellarators need.
- Proxima's plan starts with the Alpha demonstration stellarator near the Max Planck Institute for Plasma Physics in Garching, followed by the Stellaris commercial plant.
- The company has not set a date for Stellaris beyond saying it would follow Alpha later in the decade.

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