Proxima Fusion, a Munich-based nuclear energy startup, has outlined plans to raise about €2 billion to build a major fusion test facility in Germany that could be a milestone on the path to commercially viable fusion power. The company expects more than half of that, roughly €1.2 billion, to come from the German federal government, with the rest supplied by regional support and private investment. Proxima Fusion was formed in 2023 as a spin-out from the Max Planck Institute for Plasma Physics, bringing together scientists and engineers from Europe’s established fusion research ecosystem. It is developing a specific type of…

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