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Proxima Raises Record $149 Million in Drive to First Fusion Power Plant

Proxima Raises Record $149 Million in Drive to First Fusion Power Plant

German fusion technology startup Proxima Fusion announced today that it has raised €130 million (USD$149 million) in a Series A funding round, with proceeds aimed at supporting its efforts to build the first stellarator-based fusion power plant in the 2030s. The financing marks the largest private fusion investment round in Europe to date. Fusion, the process of combining two atoms…