Proxima Fusion, a Munich, Germany-based company that develops power plants via optimized stellarators, devices that form magnetic cages for high-energy matter, raised €7M in Pre-Seed funding.
The round was co-led by Plural and UVC Partners, joined by High-Tech Gründerfonds (HTGF) and the Wilbe Group.
The company intends to use the funds to expand operations and its development efforts.
Led by CEO Francesco Sciortino, Jorrit Lion, and Martin Kubie, Proxima Fusion is a spin-out from the Max Planck Institute for Plasma Physics (IPP), which built and operates the most advanced stellarator on the planet, W7-X. Connecting partners from industry and academia, the Proxima Fusion founding team, coming together from the Max Planck Society, MIT and Google, is now working to develop viable fusion power plants via optimized stellarators, devices that form magnetic cages for high-energy matter.
FinSMEs
30/05/2023