Latest news with #Stellaris
Sustainability Times
20-06-2025
- Business
- Sustainability Times
'Germany Goes Fusion-First': Company Pushes Bold Plan to Build World's First Operational Nuclear Fusion Power Plant
IN A NUTSHELL 🔋 Proxima Fusion secures $150 million in Series A funding to develop a commercial fusion power plant. secures $150 million in Series A funding to develop a commercial fusion power plant. 🏗️ Significant funding is allocated to achieving engineering milestones, including the Stellarator Model Coil by 2027. by 2027. 🌍 The company is finalizing the location for its demonstration stellarator, ' Alpha ,' set to begin operations in 2031. ,' set to begin operations in 2031. 🛠️ Proxima Fusion introduces the 'Stellaris' concept, a peer-reviewed stellarator design leveraging high-temperature superconducting technology. With the world on the brink of an energy revolution, the focus has shifted dramatically towards technological innovations that promise sustainable and abundant power. One such pioneering endeavor is led by Proxima Fusion, a Munich-based start-up determined to harness the power of nuclear fusion. Recently securing $150 million in its Series A financing round, bringing its total funding to over $213 million, Proxima Fusion is making significant strides toward constructing a commercial fusion power plant using the stellarator design. This bold initiative not only signals a shift from traditional energy resources but also positions Proxima Fusion at the forefront of technological leadership in global energy. Engineering Milestones and Strategic Goals A significant portion of Proxima Fusion's new funding is dedicated to achieving specific engineering and development milestones. The primary objective is the completion of the Stellarator Model Coil (SMC) by 2027. This project serves as a crucial hardware demonstration aimed at de-risking the application of high-temperature superconducting (HTS) technology in stellarator designs. Such advancements are pivotal in fostering innovation across Europe. Proxima Fusion's approach is defined by a simulation-driven engineering strategy that integrates advanced computing to refine its designs. This methodology is instrumental in overcoming complex challenges associated with fusion technology. 'Fusion has become a real, strategic opportunity to shift global energy dependence from natural resources to technological leadership,' remarked Francesco Sciortino, CEO and Co-founder of Proxima Fusion. The engineering efforts are not just about achieving technical success but also about paving the way for a sustainable energy future. China Caught Off Guard as U.S. Unleashes Liquid Uranium Rocket to Conquer Mars with Unmatched Nuclear Speed Finalizing the Alpha Demonstration Stellarator In tandem with engineering advancements, Proxima Fusion is in the process of finalizing the location for its demonstration stellarator, aptly named 'Alpha.' This facility is a critical component of the company's roadmap, designed to demonstrate a net energy gain (Q>1), which is essential for the development of a functional fusion power plant. Set to commence operations in 2031, Alpha represents a significant step toward realizing commercial fusion energy. Negotiations are currently underway with several European governments to determine the most suitable site for this facility. Established in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics, Proxima Fusion operates within a public-private partnership, leveraging the experimental outcomes from the IPP's Wendelstein 7-X stellarator. This collaboration underscores the importance of partnerships in advancing groundbreaking technologies. 'Space Needs Nuclear Now': This New Global Race to Harness Atomic Power Beyond Earth Is Accelerating Faster Than Expected Revealing the Concept of 'Stellaris' Proxima Fusion has introduced the 'Stellaris' concept, a robust, peer-reviewed stellarator design that integrates physics, engineering, and maintenance considerations from the onset. The Stellaris concept focuses on quasi-isodynamic (QI) stellarators, which are seen as a promising path to commercial fusion energy. By utilizing HTS technology, Stellaris can generate stronger magnetic fields, allowing for the construction of smaller, yet highly efficient stellarators. Stellaris is designed with materials readily available within the current supply chain, mitigating potential delays from awaiting new technologies. This strategic decision is crucial for maintaining project timelines and achieving near-term goals. The comprehensive peer-review process and supportive simulations affirm Stellaris's capability to address known limitations in stellarator development, positioning Proxima Fusion as a leader in fusion energy innovation. 'Reactor Has a Mind Now': U.S. Nuclear Plants Given Digital Twins That Predict Failures Before They Even Exist The Road Ahead for Proxima Fusion Looking forward, Proxima Fusion's journey is marked by ambitious goals and strategic planning. The recent influx of funding is a testament to the confidence investors have in the company's vision for a sustainable energy future. As Proxima Fusion advances toward its hardware and site selection goals, it continues to build on its strong foundation of engineering excellence and innovative design. The fusion industry, while challenging, offers immense potential for transforming global energy systems. With Proxima Fusion at the helm, the quest for fusion energy is not just a dream but a tangible reality within reach. What will the future hold for this groundbreaking technology, and how will it redefine the global energy landscape? Our author used artificial intelligence to enhance this article. Did you like it? 4.5/5 (27)
Korea Herald
20-06-2025
- Business
- Korea Herald
Faraday Factory Japan signed an agreement to deliver superconductor tape for the demo stellarator magnet of Proxima Fusion
Proxima Fusion's first-of-a-kind power plant Stellaris will use high temperature superconductor magnets to confine the burning plasma TOKYO, June 20, 2025 /PRNewswire/ -- Proxima Fusion and Faraday Factory Japan have signed a contract for the supply of high temperature superconducting (HTS) tape. This delivery will help the leading European stellarator developer Proxima Fusion to achieve its next milestone – a superconducting demo magnet. Stellarators are fusion machines which contain hot, ionized matter (plasma) within a magnetic field of remarkable strength and sophisticated geometry. Significant progress including the highest plasma triple product sustained for tens of seconds was attained recently with the W7-X stellarator, which is built and operated by the Max Planck Institute of Plasma Physics (IPP) in Germany. Proxima Fusion, originally spun out from the IPP, is building on the record-breaking expertise of W7-X, combining it with advances in stellarator optimization, computational design and state-of-the-art HTS magnet technology. After completing delivering its demo magnet in 2027, Proxima will focus on the delivery of Alpha in 2031, Proxima's net-energy demo stellarator, followed by the first-of-a-kind commercial fusion power plant Stellaris in the 2030s. Timely supply of high-quality HTS tape is essential to keep fusion on fast track. While it takes thousands of kilometers of superconducting tape to build a typical energy-positive fusion prototype, scaling up the fusion industry to commercial power will require millions of kilometers. Since 2020, Faraday Factory has ramped up production by 10 times. The new HTS tape delivery contract is an important milestone, further strengthening the HTS supply chain for the nascent but transformative fusion industry.
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Business Standard
18-06-2025
- Business
- Business Standard
Techfino raises ₹65 crore to expand MSME lending in smaller cities
Techfino to use fresh funding from Stellaris and Saison Capital to scale secured loans, expand branches, and boost tech-led lending in underserved MSME markets Peerzada Abrar New Delhi Listen to This Article Techfino, a tech-enabled non-banking financial company, has raised ₹65 crore in a funding round led by Stellaris Venture Partners and Saison Capital, the venture investment arm of Tokyo-listed Credit Saison Co. The Bengaluru-based lender said it will use the fresh capital to broaden its branch network, enhance its technology infrastructure and scale its secured lending operations. There is also a focus on micro, small and medium enterprises (MSMEs) in India's underserved Tier II and III cities. Founded with an emphasis on asset-backed lending, Techfino specialises in loans against property (LAP), operating primarily through a branch-led model. The company currently maintains
Yahoo
13-06-2025
- Business
- Yahoo
German fusion energy firm Proxima Fusion secures $150m financing
European fusion energy company Proxima Fusion has closed a €130m ($150m) Series A financing round, bringing its total funding to more than €185m in private and public capital. The Series A round, the largest private fusion investment in Europe to date, was jointly led by Cherry Ventures and Balderton Capital, with substantial contributions from a consortium of investors including UVC Partners, DeepTech & Climate Fonds, Elaia Partners, Visionaries Tomorrow and redalpine. redalpine led Proxima Fusion's seed round in 2024, just one year earlier. Proxima Fusion CEO and co-founder Francesco Sciortino stated: "Fusion has become a real, strategic opportunity to shift global energy dependence from natural resources to technological leadership. Proxima is perfectly positioned to harness that momentum by uniting a spectacular engineering and manufacturing team with world-leading research institutions, accelerating the path toward bringing the first European fusion power plant online in the next decade." This influx of capital bolsters Proxima's mission to pioneer commercial fusion energy, a move supported by the European Union and national governments including Germany, the UK, France and Italy, who view fusion as critical for achieving energy independence and sustainable economic growth. Cherry Ventures founding partner Filip Dames stated: 'We back founders solving humanity's hardest problems — and few are bigger than clean, limitless energy." "Proxima Fusion combines Europe's scientific edge with commercial ambition, turning world-class research into one of the most promising fusion ventures globally. This is deep tech at its best, and a bold signal that Europe can lead on the world stage.' Established in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics (IPP), Proxima Fusion maintains a strong public-private partnership with IPP. The company's approach to engineering is driven by simulations, utilising advanced computing and high-temperature superconducting (HTS) technologies. These strategies build upon the IPP's Wendelstein 7-X stellarator experiment's results. In early 2025 Proxima Fusion, alongside IPP, KIT and other partners, unveiled Stellaris — a stellarator concept that integrates physics, engineering and maintenance. The fresh investment will enable Proxima Fusion to complete its Stellarator Model Coil (SMC) by 2027, a crucial step in validating HTS technology for stellarators and promoting European HTS innovation. The company is finalising the location for Alpha, its demonstration stellarator, and is in discussions with several European governments. Alpha, expected to commence operations in 2031, will be pivotal for demonstrating net energy gain (Q>1) and advancing towards the first-of-its-kind fusion power plant. Proxima Fusion is also expanding its team, which currently exceeds 80 members, across three locations: its Munich headquarters, the Paul Scherrer Institute near Zurich and the Culham fusion campus near Oxford. "German fusion energy firm Proxima Fusion secures $150m financing" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Business Wire
11-06-2025
- Business
- Business Wire
Proxima Fusion Raises €130M Series A to Build World's First Stellarator-Based Fusion Power Plant in the 2030S
MUNICH--(BUSINESS WIRE)-- Proxima Fusion, Europe's fastest-growing fusion energy company, today announced the close of its €130 million ($150 million) Series A financing — the largest private fusion investment round in Europe. The Series A financing was co-led by Cherry Ventures and Balderton Capital. Significant participation also came from UVC Partners, DeepTech & Climate Fonds (DTCF), Plural, Leitmotif, Lightspeed, Bayern Kapital, HTGF, Club degli Investitori, Omnes Capital, Elaia Partners, Visionaries Tomorrow, Wilbe and redalpine, the latter of which led Proxima Fusion's seed round just one year ago. This brings Proxima Fusion's total funding to more than €185 million ($200 million) in private and public capital, accelerating its mission to build the world's first commercial fusion power plant based on a stellarator design. Francesco Sciortino, CEO and Co-founder of Proxima Fusion, said: "Fusion has become a real, strategic opportunity to shift global energy dependence from natural resources to technological leadership. Proxima is perfectly positioned to harness that momentum by uniting a spectacular engineering and manufacturing team with world-leading research institutions, accelerating the path toward bringing the first European fusion power plant online in the next decade." Shifting global energy dependence Proxima was founded in April 2023 as a spin-out from the Max Planck Institute for Plasma Physics (IPP), with which it continues to work closely in a public-private partnership to lead Europe into a new era of clean energy. The EU, as well as national governments including Germany, UK, France and Italy, increasingly recognize fusion as a generational technology essential for energy sovereignty, industrial competitiveness, and carbon-neutral economic growth. By building on Europe's long-standing public fusion investment and industrial supply chains, Proxima Fusion is laying the groundwork for a new high-tech energy industry—one that transforms the continent from a leader in fusion research to a global powerhouse in fusion deployment. 'We back founders solving humanity's hardest problems — and few are bigger than clean, limitless energy," said Filip Dames, Cherry Ventures Founding Partner."Proxima Fusion combines Europe's scientific edge with commercial ambition, turning world-class research into one of the most promising fusion ventures globally. This is deep tech at its best, and a bold signal that Europe can lead on the world stage.' Proxima is taking a simulation-driven approach to engineering that leverages advanced computing and high-temperature superconducting (HTS) technology to build on the groundbreaking results of the IPP's Wendelstein 7-X stellarator experiment. Just earlier this year, together with the IPP, KIT and other partners, Proxima unveiled Stellaris. As the first peer-reviewed stellarator concept to integrate physics, engineering, and maintenance considerations from the outset, Stellaris has been widely recognized as a major breakthrough for the fusion industry, advancing the case for quasi-isodynamic (QI) stellarators as the most promising pathway to a commercial fusion power plant. Daniel Waterhouse, Partner at Balderton Capital, said:"Stellarators aren't just the most technologically viable approach to fusion energy—they're the power plants of the future, capable of leading Europe into a new era of clean energy. Proxima has firmly secured its position as the leading European contender in the global race to commercial fusion. We are thrilled to partner with Proxima's game-changing team of engineers, alongside Europe's top manufacturers, to build a company that will be transformational for Europe." With this new funding, the company will complete its Stellarator Model Coil (SMC) in 2027, a major hardware demonstration that will de-risk high-temperature superconductor (HTS) technology for stellarators and stimulate European HTS innovation. Proxima will also finalize a site for Alpha, its demonstration stellarator, for which it is in talks with several European governments already. Alpha is scheduled to begin operations in 2031, and is the key step to demonstrating Q>1 (net energy gain) and moving towards a first-of-a-kind fusion power plant. The company will continue to grow its 80+-strong team across three offices: at the headquarters in Munich, at the Paul Scherrer Institute near Zurich (Switzerland), and at the Culham fusion campus near Oxford (UK). ' Fusion energy is entering a new era—moving from lab-based science to industrial-scale engineering, ' said Dr. Francesco Sciortino. 'This investment validates our approach and gives us the resources to deliver hardware that is essential to make clean fusion power a reality.' Ian Hogarth, Partner at Plural said: 'Proxima Fusion exemplifies a new kind of European ambition - a full force effort to develop the world's first fusion power plant. Since their first round of funding two years ago, Francesco and the team have hit extremely challenging milestones ahead of schedule and hired a team that spans plasma physics, advanced magnet design and computer simulation. Their peer-reviewed stellarator power plant design concept confirms that fusion really can be commercially viable, and creates an opportunity for Europe to be first to the target.' About Proxima Fusion Proxima Fusion spun out of the Max Planck Institute for Plasma Physics (IPP) in 2023 to build fusion power plants using QI-HTS stellarators. Proxima has since assembled a world-class team of engineers, scientists and operators from leading companies and institutions, such as the IPP, MIT, Harvard, SpaceX, Tesla, and McLaren. By taking a simulation-driven approach to engineering that leverages advanced computing and high-temperature superconductors to build on the groundbreaking results of the IPP's W7-X stellarator, Proxima is leading Europe into a new era of clean energy, for good.
