Stellarator Fusion Investments

Google has backed Germany-based Proxima Fusion in a €411 million funding round, supporting the company's goal of developing Europe's first commercial fusion power plant. The round, led by XTX Ventures and East X Ventures with participation from RWE, raised Proxima's valuation to $2.7 billion, making it Europe's best-funded fusion startup.

Proxima is developing stellarator fusion technology, targeting a proof-of-concept demonstrator in the early 2030s followed by a commercial power plant later that decade. The funding will expand production of high-temperature superconducting cables and magnets while strengthening the engineering and manufacturing capabilities needed to scale the technology.

Google's investment shows how growing private-sector backing is accelerating fusion energy development, even as commercial deployment remains a long-term technical challenge.

Image Credit: