Website: [proximafusion.com](https://www.proximafusion.com) ### Introduction Proxima Fusion is a European fusion energy company founded in April 2023 as a spin-off from the Max Planck Institute for Plasma Physics. The company is headquartered in Munich, Germany, and was established by Francesco Sciortino, Lucio Milanese, Jorrit Lion, Jonathan Schilling, and Martin Kubie, all of whom are former scientists and engineers from prestigious institutions such as the Max Planck Institute, the Massachusetts Institute of Technology (MIT), and X Development (formerly Google-X). While exact employee count data is not publicly available as of the latest information, Proxima Fusion is described as Europe’s fastest-growing fusion startup, indicating a rapidly expanding team. Their mission is to design and build the first generation of fusion power plants using quasi-isodynamic (QI) stellarators, aiming to provide abundant, clean, and safe energy with the clearest path to grid deployment [Proxima Fusion](https://www.proximafusion.com/about). Proxima Fusion is a private company and does not have a public ticker symbol. Their focus on stellarator technology, which offers advantages over traditional tokamak designs in terms of plasma stability, positions them as an innovative player in the nuclear fusion sector. The company aims to address global energy challenges by developing fusion reactors that can deliver continuous, carbon-free energy, with plans to have their first power plant operational in the 2030s [Wikipedia](https://en.wikipedia.org/wiki/Proxima_Fusion). ### Key Products and Technology - **Stellaris Fusion Power Plant (Stellarator-Based Reactor)** - **Technical Specifications**: Specific power output figures in MW/MWe or efficiency metrics are not yet publicly detailed, as the design is still in the conceptual and development phase. However, the Stellaris concept is designed to operate reliably and continuously, addressing challenges of plasma stability inherent in other fusion approaches [Proxima Fusion Press](https://www.proximafusion.com/press-news/proxima-fusion-and-partners-publish-stellaris-fusion-power-plant-concept-to-bring-limitless-safe-clean-energy-to-the-grid). - **Fuel Type or Energy Source**: Likely deuterium and tritium, common fuels for fusion reactions, though specific fuel choices are not explicitly confirmed in available data. - **Key Differentiators**: Utilizes quasi-isodynamic (QI) stellarator design, which offers superior plasma confinement and stability compared to tokamaks, reducing the risk of disruptions. This design is touted as the most robust path to grid-scale fusion energy due to its potential for continuous operation. - **Development Stage**: Conceptual design published in a peer-reviewed paper in *Fusion Engineering and Design* in 2025. The company aims to build the world’s first stellarator-based fusion power plant in the 2030s, indicating they are in early-stage development with a focus on simulation and engineering [Proxima Fusion Press](https://www.proximafusion.com/press-news). - **Target Customers**: Primarily utilities and grid operators seeking clean, baseload power, with potential applications for industrial energy needs and government-backed energy resilience programs. ### Regulatory and Licensing Status As a European company based in Germany, Proxima Fusion operates under the regulatory frameworks of the European Union and German authorities rather than the U.S. Nuclear Regulatory Commission (NRC). Specific details on their regulatory application status or licensing milestones are not publicly available in the latest data. Fusion energy, unlike fission, poses fewer safety and waste concerns, which may streamline regulatory processes compared to traditional nuclear technologies. However, fusion power plants will still require rigorous safety and environmental assessments before deployment. Proxima Fusion has not disclosed specific regulatory milestones achieved or upcoming timelines beyond their target of building a power plant in the 2030s. Given the nascent stage of commercial fusion technology globally, regulatory frameworks for stellarator-based reactors are likely still evolving. The estimated timeline to first commercial deployment remains around the 2030s, as stated in multiple sources [Business Wire](https://www.businesswire.com/news/home/20250611597730/en/Proxima-Fusion-Raises-%E2%82%AC130M-Series-A-to-Build-Worlds-First-Stellarator-Based-Fusion-Power-Plant-in-the-2030S). ### Team and Leadership - **Francesco Sciortino (Co-Founder and CEO)**: A former scientist at the Max Planck Institute for Plasma Physics, Sciortino leads Proxima Fusion’s strategic vision to commercialize stellarator technology. - **Lucio Milanese (Co-Founder and CTO)**: With a background in plasma physics and engineering from MIT and the Max Planck Institute, Milanese oversees the technical development of the Stellaris concept. - **Jorrit Lion (Co-Founder)**: A plasma physicist from the Max Planck Institute, contributing to the scientific foundation of the QI stellarator design. - **Jonathan Schilling (Co-Founder)**: An engineer with experience in fusion research, focused on reactor design and implementation. - **Martin Kubie (Co-Founder)**: A former engineer at X Development, bringing innovation and systems expertise to the team. Specific X handles for the leadership team are not verified or publicly listed in the available data, so they are omitted here [Wikipedia](https://en.wikipedia.org/wiki/Proxima_Fusion). ### Funding and Financial Position Proxima Fusion has raised significant capital to support its ambitious goals. The company secured an initial €7.5 million in pre-seed funding in 2023 from investors including Plural Platform, UVC Partners, Visionaries Club, Wilbe, and High-Tech Gründerfonds. This was followed by a €20 million seed round led by redalpine, with participation from Bayern Kapital, DeepTech & Climate Fonds, and the Max Planck Foundation. Most notably, in June 2025, Proxima Fusion closed a €130 million Series A financing round, marking the largest private financing round in the European fusion energy sector to date. This brings their total public and private funding to over €185 million [MPG.de](https://www.mpg.de/24881966/record-financing-for-proxima-fusion). As a private company, market cap and stock performance data are not applicable. Key institutional investors include redalpine, Bayern Kapital, and the Max Planck Foundation, indicating strong backing from both venture capital and academic-affiliated entities. Proxima Fusion remains pre-revenue, with no commercial contracts or operational plants reported as of the latest information [Business Wire](https://www.businesswire.com/news/home/20250611597730/en/Proxima-Fusion-Raises-%E2%82%AC130M-Series-A-to-Build-Worlds-First-Stellarator-Based-Fusion-Power-Plant-in-the-2030S). ### Recent News and Developments | Date | Event | Details | |---------------|--------------------------------|---------------------------------------------------------------------------------------------| | Dec, 2025 | Industry Sentiment on Fusion | Posts on X highlight growing interest in fusion energy, with Proxima Fusion frequently mentioned as a key player in the race for clean energy [X Sentiment]. | | Jun 17, 2025 | Record Financing Announcement | Proxima Fusion raises €130 million in Series A funding, the largest private round for fusion in Europe, to develop stellarator-based power plants [MPG.de](https://www.mpg.de/24881966/record-financing-for-proxima-fusion). | | Jun 11, 2025 | Series A Funding Press Release | Official announcement of €130 million Series A round, aimed at building the first stellarator-based fusion plant by the 2030s [Business Wire](https://www.businesswire.com/news/home/20250611597730/en/Proxima-Fusion-Raises-%E2%82%AC130M-Series-A-to-Build-Worlds-First-Stellarator-Based-Fusion-Power-Plant-in-the-2030S). | | Feb 26, 2025 | Stellaris Concept Published | Peer-reviewed paper on Stellaris, the first integrated concept for a commercial stellarator fusion power plant, published in *Fusion Engineering and Design* [Proxima Fusion Press](https://www.proximafusion.com/press-news/proxima-fusion-and-partners-publish-stellaris-fusion-power-plant-concept-to-bring-limitless-safe-clean-energy-to-the-grid). | | Feb, 2025 | Public Awareness Growth | Social media posts on X highlight Proxima Fusion’s Stellaris design as a potential game-changer for clean energy by 2030 [X Sentiment]. | ### Partnerships and Collaborations Specific partnerships or collaborations are not extensively detailed in the available data. However, Proxima Fusion’s origins as a spin-off from the Max Planck Institute for Plasma Physics suggest strong academic and research ties, likely involving collaborative efforts in stellarator research and development. Their recent publication of the Stellaris concept in a peer-reviewed journal indicates potential collaboration with other academic or industry partners in the fusion community, though named partners are not specified [Proxima Fusion Press](https://www.proximafusion.com/press-news/proxima-fusion-and-partners-publish-stellaris-fusion-power-plant-concept-to-bring-limitless-safe-clean-energy-to-the-grid). No utility agreements, offtake contracts, or government programs specific to Proxima Fusion are documented in the latest information. ### New Hampshire Relevance Proxima Fusion’s technology, while promising, is geographically and developmentally distant from immediate relevance to [[New Hampshire]]. The company is based in Munich, Germany, and focuses on European energy markets, with no expressed interest or connections to the Northeast U.S. or New Hampshire specifically. Their Stellaris fusion power plant is targeted for deployment in the 2030s, which may align with longer-term energy planning in New Hampshire, such as potential interest in carbon-free baseload power to complement the [[Seabrook Station]] nuclear facility or support the ISO-NE grid. However, the technology remains in early development stages, far from readiness for NH deployment timelines. New Hampshire’s legislative initiatives, such as HB 710 which explores advanced nuclear options including SMRs, could theoretically encompass fusion technologies like Proxima Fusion’s stellarators in the future. Potential applications in NH could include grid power for utilities, energy for data centers (a growing load in the region), or industrial heat for manufacturing. However, without specific U.S. partnerships or regulatory engagement, Proxima Fusion’s relevance to NH is speculative and long-term at best. No direct connections or plans for U.S. expansion are noted in the available data. ### Competitive Position Proxima Fusion operates in a competitive field of fusion energy startups, each pursuing different technological approaches. Compared to **[[Commonwealth Fusion Systems]] ([[Commonwealth Fusion Systems|CFS]])**, a U.S.-based company focusing on tokamak reactors with high-temperature superconducting magnets, Proxima Fusion’s stellarator approach offers greater plasma stability but may face slower development timelines due to the complexity of stellarator design. CFS aims for a demonstration plant (SPARC) by the mid-2020s, potentially outpacing Proxima’s 2030s target. Against **[[Helion]] Energy**, another U.S. startup targeting direct energy conversion via pulsed fusion, Proxima Fusion’s continuous operation design may appeal more to utilities seeking baseload power, though [[Helion]] claims a faster path to commercialization. Finally, compared to **[[TAE Technologies]]**, which focuses on field-reversed configuration fusion, Proxima Fusion’s academic roots and European focus may provide unique research advantages but less immediate commercial traction in the U.S. market. A key risk for Proxima Fusion is the unproven scalability of stellarator technology at a commercial level, while their funding and academic backing are significant advantages. ### Closing Note Proxima Fusion is an early-stage fusion energy company with ambitious plans to deploy stellarator-based power plants by the 2030s, supported by substantial funding and a strong scientific foundation. *Report generated December 24, 2025*