The Spark - The Technology Prize: This German company wants to build Europe's first fusion power plant

Munich. This company could revolutionize the energy industry. Jorrit Lion makes this clear: “We want to bring the sun to the earth.” Lion is co-founder and chief scientist at the Munich-based fusion start-up Proxima Fusion. With the vision, Proxima Fusion won second place in “The Spark – The Technology Prize”.

This year, the company Proxima Fusion, founded three years ago in Munich, became the first fusion energy unicorn in Europe. In July, the company raised more than 400 million euros in a financing round and has since been valued at more than two billion euros. Start-ups with a valuation of one billion dollars or more are considered unicorns.

In addition to the financial arm of the London trading center XTX Markets, XTX Ventures, and the venture capitalist East “We expect Proxima to prove in the next few years that the first commercial fusion power plant will be built in Europe – and not elsewhere,” says Benjamin Erhard from UVC.