Google invests nearly $500 million in Proxima Fusion's German stellarator effort
Google has invested nearly half a billion dollars in Proxima Fusion, a Germany-based startup aiming to build Europe's first commercial nuclear fusion power plant.
They're betting on stellarator tech, which could mean cleaner and safer energy if it works out, though Google cautions that making fusion practical is still a big challenge.
Proxima Fusion valued at $2.7B
This funding round, led by XTX Ventures and East X Ventures (with Google and RWE also jumping in), now values Proxima at $2.7 billion.
The money will go toward building key tech, scaling up engineering, and hiring more talent.
CEO and co-founder Francesco Sciortino says this shows Europe can compete with the US and China in breakthrough tech, and they're planning to launch their first fusion demo in the early 2030s, with hopes for a real power plant later that decade.