Proxima Fusion Secures €130M to Build World's First Stellarator-Based Fusion Plant

Deal News | Jun 11, 2025 | Balderton Capital

Proxima Fusion Secures €130M to Build World's First Stellarator-Based Fusion Plant

Proxima Fusion, Europe's leading fusion energy company, has raised a record-breaking €130 million ($150 million) in a Series A funding round led by Cherry Ventures and Balderton Capital. This funding is the largest private fusion investment in Europe to date and brings Proxima's total funding to over €185 million ($200 million). Founded in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics, Proxima Fusion aims to construct the world's first commercial fusion power plant using a stellarator design. The Series A funding will accelerate its efforts to advance stellarator technology, with plans to complete the Stellarator Model Coil by 2027 and initiate operations of a demonstration plant, Alpha, by 2031. This strategic investment positions Proxima Fusion as a forefront contender in the shift towards clean fusion energy, leveraging its robust engineering team and collaborations with top European research institutions and manufacturers.

Sectors

  • Energy
  • Venture Capital

Geography

  • Europe – The funding and development efforts are centered in Europe, involving multiple European countries and institutions, including Germany, the UK, France, and Italy.

Industry

  • Energy – The article discusses developments in fusion energy, a sector concerned with generating power through nuclear fusion processes, specifically through stellarator technology.
  • Venture Capital – Proxima Fusion's funding round has been supported by venture capital firms, highlighting investment in early-stage companies with high growth potential in innovative sectors.

Financials

  • €130M – The amount raised in Proxima Fusion's Series A funding round, marking the largest private fusion investment in Europe.
  • €185M – The total funding amount Proxima Fusion has accumulated from private and public capital sources.

Participants

NameRoleTypeDescription
Proxima FusionTarget CompanyCompanyA fusion energy company spun out from the Max Planck Institute for Plasma Physics, working on stellarator-based fusion technology.
Balderton CapitalInvestorCompanyA venture capital firm co-leading the €130 million Series A funding round for Proxima Fusion.
Cherry VenturesInvestorCompanyA venture capital firm co-leading the Series A funding round for Proxima Fusion.
Max Planck Institute for Plasma PhysicsResearch PartnerCompanyA leading research institution in plasma physics and a partner in Proxima Fusion's efforts to develop stellarator-based fusion technology.
Francesco SciortinoCEO and Co-founderPersonCEO and co-founder of Proxima Fusion, leading the company in its mission to develop commercial fusion energy.