Proxima Fusion Raises €411 Million In Funding Led By Google And XTX Markets
Proxima Fusion has secured €411 million in funding led by algorithmic trading firm XTX Markets and UK-based East X at a €2.4 billion valuation. The round includes participation from technology company Google and German energy utility RWE, marking Google’s first investment in a European fusion startup.
The Munich-based company will build a €2 billion demonstration nuclear fusion facility in Germany by the early 2030s, targeting grid connection for its first commercial plant by the late 2030s. The capital supports a push to secure reliable electricity for data centers, the chief executive said.
From the sources (9 posts)
@businessGerman startup Proxima Fusion has raised €411 million from a range of investors, including national energy firm RWE and Google, to develop a nuclear fusion plant it hopes will be operational in the 2030s
@firstsquawkGERMAN STARTUP PROXIMA FUSION SECURES €411 MILLION IN FUNDING FROM INVESTORS LIKE RWE AND GOOGLE TO BUILD A NUCLEAR FUSION PLANT TARGETING OPERATION IN THE 2030S.
@cnbcGoogle backs nuclear fusion startup targeting Europe’s first commercial power plant
@sebjohnsonukA German startup has just raised €411m to build the world’s FIRST nuclear fusion plant. It comes at a time when Europe’s energy security is being scrutinised more than ever. Germany in particular has been criticised for closing down all o
@sebjohnsonuk"I developed a strong conviction that high-field superconducting magnets and advanced simulation were about to change what was possible in stellarator fusion" There are very few investors like @soundboy. Unsurprising to hear that @plural
@wallstengineGoogle and XTX Markets backed German fusion startup Proxima Fusion in a €400M round, valuing the company at €2.4B. XTX reportedly led the round and contributed about 25% of the total. Google joined as a strategic investor, its first invest
@techmemeMunich-based nuclear fusion startup Proxima Fusion raised €411M led by trading firm XTX and UK-based East X at a €2.4B valuation, with participation from Google (Bloomberg) (Visit Techmeme dot com for the link and full context!)
@chigrlGoogle and RWE Back German Nuclear Startup Proxima Fusion at €2.4 Billion Valuation German startup Proxima Fusion has raised €411 million ($469 million) from a range of investors, including national energy firm RWE AG and Alphabet Inc.’s G
@sebjohnsonukMake Energy Cheap Again