Proxima Fusion has announced plans to construct a production facility for high-temperature superconducting (HTS) tape. The project is valued at €140 million, or approximately $162.6 million. The company intends to utilize this component to generate the magnetic fields necessary for containing plasma within its fusion reactors.
The startup, based in Germany, will finance the factory through a combination of public and private capital. The state of Lower Saxony has committed €21 million to the initiative. This investment follows a recent funding round in which the company raised €411 million, positioning it among the most well-funded startups in the fusion sector.
The demand for HTS tape is significant for the company's development. Its demonstration plant requires 20 000 kilometers of the material, while the planned commercial power plant will necessitate double that amount. Currently, the global supply of HTS tape is primarily concentrated in China and Japan.
HTS tape is considered a foundational technology for modern fusion startups, as it allows for the creation of smaller and more efficient reactor designs by generating strong magnetic fields at higher temperatures. Beyond fusion energy, companies such as Veir are exploring the use of this tape to improve power density and efficiency in data centers.
