Google and XTX Markets backed the German stellarator developer.
Google and XTX Markets backed the German stellarator developer.
@soundboy @proximafusion Incredible! Glad we have this ‘energy’ in Europe
@RWE_AG @Google 3/ Proxima’s also the fusion company that has seen the most meaningful state support in Europe so far, with the Bavarian government committing hundreds of millions of euros to the buildout of Alpha, paving the way for fusion to power the grid with abundant clean energy.
@RWE_AG @Google 4/ In 2022, I developed a strong conviction that high-field superconducting magnets and advanced simulation were about to change what was possible in stellarator fusion. Through a tangled chain of introductions, I met Francesco Sciortino.
1/ @proximafusion just raised €411M, valued at over €2.4B - Europe’s best-funded and most valuable fusion company. Plural is the earliest and largest investor and we are deeply motivated by this mission.
@RWE_AG @Google 6/ They’ve worked relentlessly to hire leaders across plasma physics, HTS magnets, cryogenics, manufacturing, advanced structural engineering and the myriad of other disciplines that are required.
@RWE_AG @Google 7/ Europe has always been home to hard science, but hasn’t always converted that into global champions. Proxima is on a path to build a new global energy champion from Europe.
2/ The round was led by XTX Ventures and East X Ventures, with @RWE_AG and @Google also participating. It takes total funding raised past €650 million in under three years.
@RWE_AG @Google 8/ You can read more about the news in today’s @FT here: https://www.ft.com/content/3b1665f4-9a48-4ec1-a0bc-528c528db96e?syn-25a6b1a6=1
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