The round drew strategic investments from Alphabet’s Google and German energy giant RWE, which committed €25m. It also triggered a matching €400m public funding contribution from the Bavarian regional government.
Proxima Fusion, a spin-out from the Max Planck Institute for Plasma Physics, is leveraging advanced computing and high-temperature superconducting magnets to develop stellarator fusion reactors. Through a partnership with RWE, the company plans to construct its debut power plant at the decommissioned Gundremmingen nuclear site in Bavaria.
Reporting by Frank Prenesti for Sharecast.com