The Munich-based venture is developing a stellarator device that confines burning plasma with high-tech magnetic coils to generate zero-emission electricity. To source the required materials, Proxima may invest 140 million euros into a specialized manufacturing hub in Lower Saxony capable of churning out 5,000 kilometers of conductor tape each year by 2030. Backed by a $468 million funding round that pegged its valuation at $2.7 billion, the company seeks to build resilient domestic supply networks. Ultimately, leadership hopes this operational blueprint will yield net energy gain during the next decade.
Key points
International partnerships are supplying the specialized plasma-heating gyrotrons and mag…: International partnerships are supplying the specialized plasma-heating gyrotrons and magnet components essential for commercial stellarator deployment.
Proxima Fusion intends to utilize capital from its recent $468 million funding round to e…: Proxima Fusion intends to utilize capital from its recent $468 million funding round to erect vital European manufacturing infrastructure.
Securing vast quantities of domestic superconducting tape remains central to Proxima's am…: Securing vast quantities of domestic superconducting tape remains central to Proxima's ambition of demonstrating net energy gain by the early 2030s.
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The race is on to build the world's first commercial fusion power plant — and one of Europe's leading contenders in the field has just received a boost.
Munich-based Proxima Fusion signed memoranda of understanding with two Japanese industrial partners, Fujikura and Kyoto Fusioneering, in Tokyo on Oct. 28. Japanese Prime Minister Sanae Takaichi and German Chancellor Friedrich Merz — who was visiting in a bid to deepen trade ties — were both in attendance.
Ann Mettler, president of Catalyse Europe, a Brussels-based clean-energy think tank, and a former vice president of Breakthrough Energy, said developing the technology should be a strategic imperative for Europe.
"Europe is a resource-poor geography and we are very dependent on China. The world is in competition for technological supremacy — this is a zero-sum game," Mettler told CNBC, speaking in a personal capacity.
"Fusion is a silver bullet because the promise is abundant, clean, limitless energy."
Fusion energy seeks to replicate the way the sun produces power, using super-heated plasma to fuse two light atomic nuclei into one heavier one, releasing vast amounts of…
Armed forces across the globe are heavily upgrading rotary-wing aircraft to deliver precision strikes from extreme standoff distances. By equipping platforms with advanced, extended-range munitions, military planners are blurring the conventional lines dividing traditional aviation, unmanned systems, and cruise weapons. This evolving doctrine significantly increases survivability by letting crews strike valuable land and naval targets well beyond hostile defensive perimeters.
The FIA-certified milestone establishes a high-performance benchmark for battery-powered vehicles, demonstrating that modern electric platforms can achieve extreme velocity previously dominated by conventional supercars. The run serves as an international technical showcase for the company's proprietary battery chemistry and active chassis management systems.
The Guardian has published a new Saturday Opinion illustration that examines critical issues surrounding modern technological developments. Created as a