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Proxima Fusion develops quasi-isodynamic stellarator fusion reactors and power plants.
Proxima Fusion develops stellarator fusion technology, including quasi-isodynamic designs intended to produce fusion energy. The company is based in Munich, Germany, and was founded in 2023 by Francesco Sciortino, Lucio Milanese, Jorrit Lion, Martin Kubie and Jonathan Schilling. In July 2026, it raised EUR 411 million in Series B funding from new and returning investors, including XTX Ventures, East X Ventures, RWE Generation, GV, Plural, Balderton Capital and Lightspeed Venture Partners. The proceeds are intended to fund its Alpha demonstrator near Munich and expand magnet production and engineering.
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