Market & RegulationInvestment · €411M
Google backs Proxima Fusion in €411m raise
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Why it matters
- →Proxima Fusion's funding highlights the growing momentum in nuclear fusion as a clean energy source.
- →Google's investment signals increased interest from major tech companies in European fusion initiatives.
- →The development of the stellarator could position Europe as a leader in the global fusion energy race.
Proxima Fusion, based in Munich, has raised €411 million in a funding round led by XTX Ventures and East X Ventures, with participation from Google and other investors. This investment values the company at €2.5 billion and will be used to develop a stellarator for nuclear fusion. The project, named Alpha, aims to demonstrate the potential of fusion energy by the early 2030s. Google's involvement marks its first investment in a European fusion company, highlighting the growing interest in fusion as a clean energy source.
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