Proxima Fusion has secured €411 million ($468 million) in a new financing round, raising its valuation to €2.4 billion ($2.7 billion). The capital injection makes the Max Planck Institute for Plasma Physics spin-out the most funded fusion entity in Europe. The company plans to deploy these resources toward the engineering, manufacturing, and hardware scaling necessary to build its net-energy stellarator demonstrator, named Alpha.
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