StoryFunding
Proxima Fusion raises €411 million to build its Alpha stellarator demonstrator
Munich-based Proxima Fusion announced a record €411 million funding round, valuing the company at more than €2.4 billion. The money is tied to Alpha, a stellarator demonstrator meant to show the energy confinement and heat removal a commercial plant would need, with Stellaris to follow.
- The round is €411 million, described by the company as the largest in European fusion; valuation is above €2.4 billion
- The private financing meets a condition of the February 2026 agreement between Bavaria, Proxima, RWE and the Max Planck Institute for Plasma Physics
- Alpha still needs €1.2 billion in federal funding that has not yet been committed
- Alpha is to be built near the Max Planck institute in Garching; no construction or completion date was given
- Stellaris, the planned pilot power plant, could be built at the former Gundremmingen nuclear plant site