TechCrunch Startup News Proxima Fusion joins the club of well-funded nuclear contenders with €130M Series A
Jun 12, 2025
A German startup makes waves by securing €130 million in Series A funding for its ambitious clean nuclear fusion technology. Hear about their groundbreaking stellarator-designed power plant and how it aims to revolutionize the energy landscape in Europe. The discussion highlights the significance of venture capital in kickstarting potentially limitless energy solutions, bringing us one step closer to a clean energy future.
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Proxima Fusion's Stellarator Advantage
- Proxima Fusion raised €130 million, becoming a top European contender in nuclear fusion funding.
- Their stellarator design offers more stability than tokamaks by avoiding plasma currents, enabling cleaner fusion energy.
Funding Timeline and Milestones
- Venture capital supports Proxima until around 2031, with big milestones like a hardware demo in 2027.
- Later funding will shift to other capital forms as fusion development nears practical application.
Founder’s European Commitment
- Francesco Ciutino, a physicist from Italy, worked across UK, Switzerland, and the US before returning to Europe.
- His pride in Europe drives him to build a fusion future on the continent.