Series A · Climate tech
Proxima Fusion closes €130 million Series A for stellarator development
Cherry Ventures and Balderton Capital co-lead the financing as the company moves further into hardware engineering.
The financing follows publication of Stellaris, Proxima’s stellarator concept integrating plasma physics, engineering and maintenance requirements. The company combines simulation-led design with high-temperature superconducting magnets.
Proxima plans to complete a model-coil demonstration in 2027 and choose a site for Alpha, its demonstration stellarator. The programme is intended to test the engineering needed for a future commercial fusion power plant.
Use of funds
Complete a stellarator model coil hardware demonstration
Select a site for the Alpha demonstration stellarator
Grow the engineering and scientific team