<ul><li>Proxima Fusion, a German startup, secures a €130 million Series A round of funding led by Balderton Capital and Cherry Ventures, totaling its public and private funding to over €185 million ($200 million).</li><li>The company aims to become one of Europe's top contenders in the pursuit of fusion energy as an alternative to fission by utilizing stellarators for fusion, with plans for a working fusion power plant showcased in a peer-reviewed journal.</li><li>The significant milestone achieved by Proxima in reaching its design goals resulted in an oversubscribed funding round, attracting partners like Balderton Capital and Cherry Ventures who are also well-equipped to finance the company in future stages.</li><li>Proxima Fusion's venture capital funding is crucial for meeting upcoming milestones, with a hardware demonstration scheduled for 2027, and aims to reach a major goal by 2031. The company has attracted European investors and views fusion as an opportunity for Europe to lead the global energy transition.</li></ul>

Proxima Fusion joins the club of well-funded nuclear contenders with €130M Series A

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