Founder & CEO
Proxima Fusion
Proxima Fusion is developing commercial fusion power plants based on quasi-isodynamic (QI) stellarators paired with high-temperature superconducting (HTS) magnets. The company's integrated approach combines simulation-driven design, advanced magnet technology, and industrial manufacturing capabilities to deliver continuous, grid-ready fusion energy. Its roadmap includes the Alpha demonstration stellarator targeting net energy gain in the early 2030s, followed by the Stellaris commercial power plant concept.
- Energy
- Clean Technology
- Hardware
- Artificial Intelligence
Updated 6 days ago
Funding
Raised to date
€583.5MRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Est. $636Macross 5 rounds
+26€411M · Series B
Announced Jul 2026 · from article date
Disclosed cumulative: $636M
5/5
RoundDateAmountValuationInvestors
Founders
Product
Problem
Current large-scale fusion approaches, such as tokamaks, require complex plasma current control and are prone to disruptive instabilities, making continuous, grid-ready operation difficult and costly. Additionally, the lack of industrial-scale manufacturing pathways for high-performance magnetic systems slows the transition from laboratory experiments to commercial power plants.
Solution
Proxima Fusion develops quasi-isodynamic (QI) stellarators that eliminate toroidal plasma currents, removing current-driven instabilities and enabling steady-state operation. By integrating high-temperature superconducting (HTS) magnets, the company achieves stronger magnetic fields in a more compact geometry, reducing plant size and cost. Their cloud-based optimization platform, StarFinder, accelerates design cycles through rapid simulation and machine-learning-guided prototyping. Proxima's roadmap includes the Alpha demonstration stellarator (early 2030s) to prove net-energy gain, followed by the Stellaris commercial power-plant concept (late 2030s) that combines electromagnetic, structural, thermal, and neutronics models into a coherent, grid-ready design. Partnerships with the Max Planck Institute for Plasma Physics, RWE, and a consortium of European industrial firms provide the manufacturing, engineering, and regulatory support needed to scale the technology.
Target Audience
Primary customers are utility operators and energy infrastructure investors seeking large-scale, low-carbon baseload power, as well as industrial partners and engineering firms that supply high-performance superconducting magnets, cryogenics, and power-plant construction services.
Features
- QI stellarator architecture that cancels toroidal currents, eliminating disruption risks and simplifying continuous operation
- High-temperature superconducting (HTS) magnet system delivering higher field strength with reduced cryogenic requirements
- StarFinder cloud platform for automated stellarator geometry optimization, leveraging supercomputing and AI to cut design time and cost
- Integrated design workflow that unifies electromagnetic, structural, thermal, and neutronics simulations into a single, validated plant model
- Island divertor heat-exhaust solution proven on W7-X, ensuring reliable plasma-wall interaction management
- Dedicated HTS magnet factory and supply-chain network coordinated through the Alpha Alliance industrial consortium