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Another 20 million euros for Proxima Fusion, the company born as the first spin-out of the Max Planck Institute for Plasma Physics, less than a year after the pre-seed round of 7.5 million.
An operation, the one announced in these hours, which will support the Munich-based start-up towards the construction of the first generation of fusion energy plants based on quasi-isodynamic stellarators (QI) with high-temperature superconductors.
After all – as told by the founders of the start up a few months ago to Il Sole 24 Ore – Proxima Fusion’s vision is to lead Europe into a new era of clean energy. The one that comes from the stars.
The seed round was launched following spontaneous interest from investors and received great support. The investment was led by redalpine, with participation from the Bavarian government-backed Bayern Kapital, the German government-backed DeepTech & Climate Fonds and the Max Planck Foundation. While existing investors from pre-seed, including Plural, Uvc Partners, High-Tech Gründerfonds, Wilbe and Tomorrow by Visionaries Club, have extended their investments.
The innovation proposed by Proxima Fusion has attracted some interest in the energy world, because QI stellarators promise a clean, safe and practically unlimited source of energy. The science behind this class of magnetic fusion confinement devices has been researched for more than six decades; However, achieving conditions to create sustainable and commercially viable energy with fusion remains a challenge. A challenge that the Bavarian start-up has decided to undertake with determination. Also because in 2022 new exceptional stellarator optimization results have given completely new perspectives to the sector, allowing Proxima Fusion to face the challenge with an engineering and simulation-focused approach, leveraging advanced computational methods.