Munich-based deeptech company Marvel Fusion has increased its Series B to a total of 113 million euros. The newly raised funding of 50 million euros comes from EQT Ventures, Siemens Energy Ventures, and the European Innovation Council (EIC) Fund. Existing investors Tengelmann Ventures and Bayern Kapital have also participated again.
With the expansion of this funding round, total funding has reached 385 million euros according to the company. Of this, 170 million euros comes from private investments and 215 million euros from public cooperation projects. The funds are intended to support Marvel Fusion in the transition from research and development to industrial deployment.
Marvel Fusion is working on a novel fusion technology that could significantly accelerate the commercialization of fusion energy as an energy source. In collaboration with Colorado State University, a 150 million dollar laser facility is currently being built, which represents an important milestone on this path.
Strategic partnerships for a new energy future
Another central aspect of the company’s strategy is the industrial partnership with Siemens Energy. Together, the two companies are developing a concept for a fully integrated fusion power plant. Juha Pankakoski, Executive Vice President Global Functions at Siemens Energy, explains:
“We have been involved with Marvel Fusion for a long time and have contributed our expertise, and we look forward to continuing our joint work. We hope that this important technology becomes a reality and enables reliable energy supply. When that day comes, Siemens Energy will be in the forefront.”
The European Innovation Council also sees fusion energy as a strategic technology for Europe’s future. Svetoslava Georgieva, Chair of the Board of the EIC Fund, emphasizes:
“The participation of the European Innovation Council in the fund is a significant step forward that underscores the EIC’s commitment to high-impact innovations by private fusion companies and reflects the position of fusion technology as a strategic technology for Europe.”
Moritz von der Linden, founder and CEO of Marvel Fusion, says:
“It is fantastic to welcome the EIC Fund, EQT Ventures, and Siemens Energy to our shareholder base; this gives us the financial and operational support to achieve the required milestones on the path to building the world’s first fusion prototype.”
