Proxima Fusion Secures €130M to Build First Fusion Power Plant
Deal News | Jun 11, 2025 | Omnes Capital SAS
Proxima Fusion, a burgeoning force in European fusion energy, has secured a substantial €130 million in Series A financing, marking the largest private investment in fusion technology within Europe. Spearheaded by Cherry Ventures and Balderton Capital, the round included participation from prominent investors such as Omnes Capital. Founded in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics, Proxima aims to establish the world’s first commercial fusion power plant by the 2030s. With its groundbreaking stellarator design, the company is set to shift Europe’s energy landscape from dependency on natural resources to technological leadership. The investment will allow Proxima to finalize key projects like the Stellarator Model Coil by 2027, and initiate operations for their demonstration reactor, Alpha, targeting a net energy gain (Q>1) by 2031, thereby paving the path for fusion as a clean energy source.
Sectors
- Energy
- Technology
- Investments
Geography
- Europe – Proxima Fusion is based in Munich, Germany, and is focusing on advancing energy technology in Europe. It is also collaborating with European research institutes and governments.
Industry
- Energy – The primary focus of the article is on Proxima Fusion's efforts to develop a fusion power plant, which falls under the energy sector, specifically clean and renewable energy.
- Technology – Proxima Fusion is leveraging advances in high-temperature superconducting technology and simulation-based engineering, which is crucial for the technological edge in energy solutions.
- Investments – The article discusses significant Series A funding activities involving multiple private equity and venture capital firms.
Financials
- €130 million – The Series A funding amount raised by Proxima Fusion.
- €185 million – Proxima Fusion's total funding raised to date, including public and private capital.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Proxima Fusion | Target Company | Company | An emerging European fusion energy company aiming to build the world's first commercial fusion power plant. |
| Omnes Capital | Investor | Company | A private equity firm that participated in Proxima Fusion's Series A funding round. |
| Cherry Ventures | Co-lead Investor | Company | A venture capital firm leading the Series A funding round for Proxima Fusion. |
| Balderton Capital | Co-lead Investor | Company | A venture capital firm that co-led the Series A funding round for Proxima Fusion. |
| Max Planck Institute for Plasma Physics (IPP) | Research Partner | Company | A scientific institution collaborating with Proxima Fusion in developing fusion technology. |
| Francesco Sciortino | CEO and Co-founder | Person | CEO and co-founder of Proxima Fusion, spearheading the company's fusion power plant initiative. |
| Filip Dames | Founding Partner at Cherry Ventures | Person | A Founding Partner at Cherry Ventures, leading the investment into Proxima Fusion. |
| Daniel Waterhouse | Partner at Balderton Capital | Person | A Partner at Balderton Capital, co-leading the investment into Proxima Fusion. |
| Ian Hogarth | Partner at Plural | Person | A partner at Plural, one of the investing firms in Proxima Fusion. |