Proxima Fusion
Assembly Line
Proxima Fusion bags €20 million seed to accelerate timeline to fusion power
Proxima Fusion, the first spin-out from the Max Planck Institute for Plasma Physics (IPP), has raised €20 million in seed funding to propel the Munich-based startup towards building the first generation of fusion power plants based on quasi-isodynamic (QI) stellarators with high-temperature superconductors. Proxima Fusion’s seed round, led by redalpine, was preempted and oversubscribed, with participation from the Bavarian government-backed Bayern Kapital, German government-backed DeepTech & Climate Fonds, and the Max Planck Foundation. Existing investors, including Plural, UVC Partners, High-Tech Gründerfonds, Wilbe, and TOMORROW of Visionaries Club have doubled down on their pre-seed investments.
Founded in 2023, the company builds on groundbreaking results from the Wendelstein 7-X (W7-X) experiment, the world’s largest stellarator at the Max Planck IPP, resulting from €1.3B of visionary public investment by the German Government and the European Union.