Proxima Fusion seeks €2 Billion to build a nuclear fusion test facility

Proxima Fusion, a Munich-based nuclear energy startup, has outlined plans to raise about €2 billion to build a major fusion test facility in Germany that could be a milestone on the path to commercially viable fusion power.

The company expects more than half of that, roughly €1.2 billion, to come from the German federal government, with the rest supplied by regional support and private investment.

Proxima Fusion was formed in 2023 as a spin-out from the Max Planck Institute for Plasma Physics, bringing together scientists and engineers from Europe’s established fusion research ecosystem.

It is developing a specific type of fusion reactor called a stellarator, which uses twisted magnetic fields to hold super-hot plasma in place. Proxima’s leadership argues this design could offer greater stability and continuous operation compared with the more widely known tokamakapproach.

The planned facility, provisionally called Alpha, would ...