Munich Startup
7 million euros for Proxima Fusion

7 million euros for Proxima Fusion

The founding team of Proxima Fusion in Munich Urban Colab

The founding team of Proxima Fusion in Munich Urban Colab

Maximilian Feigl

Maximilian Feigl

Munich-based startup Proxima Fusion is developing a fusion power plant based on the so-called stellarator concept. In its pre-seed round, the spin-off from the Max Planck Institute for Plasma Physics (IPP) has now raised 7 million euros.

June 6, 2023

3 min. read time

Proxima Fusion plans to build its first fusion power plant already in the 2030s. To achieve this, the startup relies on the concept of a so-called stellarator. In this design, the plasma required for the fusion reaction – a mixture of the hydrogen isotopes deuterium and tritium at temperatures of 100 million degrees Celsius or higher – is confined in a magnetic field generated by a variety of complex electromagnets outside the plasma. This is necessary because the plasma would cool down too much if it came into contact with the wall of a material vessel, preventing the fusion reaction from continuing.

The magnetic field can in principle be arranged in different ways, leading to different reactor concepts, including the stellarator. A well-known example is the Wendelstein 7-X reactor, operated by the IPP in Greifswald. The second promising concept, the tokamak, combines simple external electromagnets with a large current within the plasma. This solution is used, for example, in the international research project ITER.

The design of stellarators is considered significantly more complex than that of tokamaks, but it offers decisive advantages for a fusion power plant. The steady-state operation of the reactor requires lower operational effort, and managing the heat load on material surfaces is easier. The disadvantages of early stellarators, such as poor plasma confinement at high temperatures or high losses of fusion products, have been resolved in recent years.

“The experimental progress of W7-X and recent advances in stellarator modeling have radically changed the picture,”

explains Francesco Sciortino, co-founder and CEO of Proxima Fusion.

“Stellarators can now overcome the main problems of tokamaks and be significantly further developed, thereby improving plasma stability and achieving steady-state peak performance.”

Proxima Fusion ready to “change the status quo”

Proxima Fusion’s work builds on the IPP’s Wendelstein 7-X. Progress in research enables the startup to use modern optimization and design tools to accelerate the timeline for fusion energy. UVC Partners is now investing 7 million euros in Proxima Fusion together with Plural as lead investor. Additionally, the High-Tech Gründerfonds (HTGF) and the Wilbe Group are joining the pre-seed round.

 Benjamin Erhart, General Partner at UVC Partners, says:

“In the coming years, the energy transition will be one of our most existential challenges. We already know today that we need a smart mix of different energy sources. Proxima Fusion’s efforts build on Germany’s massive investments in stellarators. We are convinced that the team is ready to change the status quo – globally and especially in Germany and Europe, where reliable energy sources beyond wind and solar are urgently needed.”

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