411 million euros for Proxima Fusion: Another milestone for the German fusion sector
08.07.2026
The Munich-based startup Proxima Fusion has closed a funding round of 411 million euros, bringing its valuation to more than 2.4 billion euros.
This makes the company one of the world’s leading fusion companies and sends a strong signal for Bavaria, Germany, and Europe as technology hubs.
Proxima Fusion plans to use the fresh capital to take the next step toward the industrial application of nuclear fusion. The funds will be used, among other things, to build Alpha, the planned net-energy demonstrator, as well as to expand key development and manufacturing capacities and technologies. The fact that two heavyweights—RWE and Google—are taking strategic stakes is also a strong signal.
Bayern Innovativ as a Partner to the Fusion Industry
We at Bayern Innovativ are particularly pleased about this milestone because we’ve been supporting Proxima Fusion since shortly after its founding—from initial discussions and networking events to company visits and workshops. The focus has always been on how to create an industrial ecosystem for nuclear fusion.
This was also the case at FusionX:Global 2026. As the local host, we brought the international fusion community—including investors—to Munich for the first time. The event thus provided a strong platform for local players such as Proxima Fusion. That same week, the startup signed a memorandum of understanding with the Free State of Bavaria, among others. It lays the foundation for Alpha in Garching and for Stellaris, which is set to become the world’s first commercial stellarator fusion power plant on the RWE site in Gundremmingen.
CEO Dr. Francesco Sciortino already highlighted the impact this visibility and networking had on Proxima Fusion at FusionX:Global: “We are incredibly grateful that Bayern Innovativ supports us and the entire ecosystem. It’s because of Bayern Innovativ that FusionX came to Munich, and this event is the most important one for fusion. […] Without Bayern Innovativ, we wouldn’t have been able to network so effectively with the Bavarian government to bring such an event together.”
Companies Can Now Benefit, Too
The current funding round demonstrates just how much interest in nuclear fusion has grown. It is no longer merely a promise of energy but is evolving into a key industrial technology. This is because the path toward a fusion power plant is creating new demands on various industries, such as manufacturing, materials, sensor technology, and the supply chain. This is precisely where companies from Bavaria and Germany can already play an important role.
For Bavaria and Germany as a whole, this development is therefore more than just good news for a single startup. It demonstrates the potential that arises when research, industry, capital, politics, and international networks come together at an early stage. Bayern Innovativ will continue to support this journey. After all, FusionX:Global is returning to Munich in 2027.
More information about FusionX:Global: FusionX:Global: Bayern Innovativ