Munich-based startup Proxima Fusion has signed a Memorandum of Understanding with Japanese firm Kyoto Fusioneering. The partnership aims to develop critical technologies for commercial fusion power plants, specifically focusing on plasma heating systems and fuel cycle technologies.
Proxima Fusion, a 2023 spin-out from the Max Planck Institute for Plasma Physics, is currently developing the Alpha demonstration stellarator, with a target date in the early 2030s. This will be followed by the development of Stellaris, intended to be the world's first commercial stellarator power plant later that decade.
The company has seen significant financial growth since its inception. Following a €7 million pre-seed round in 2023 and a €20 million seed round in 2024, it raised €130 million in a Series A in June 2025, later extended by €15 million. In July 2026, the firm secured an additional €411 million.
Total reported funding and public grants for Proxima Fusion now exceed €650 million. This capital supports the company's efforts to establish industrial-scale supply chains for fusion components, aligning with the German government's goal to host the world's first fusion power plant.
