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Google backs €411M funding for Proxima Fusion's plan for Europe's first commercial fusion power plant

Market News
07 Jul 2026
CNBC
View Source
Bullish
pluang ai news

Google has invested in Germany-based Proxima Fusion, which raised €411 million ($468 million) to develop Europe's first commercial fusion power plant. Proxima aims to have a fusion demonstrator operational by the early 2030s, using stellarator technology to create clean, abundant energy through nuclear fusion. The funding will support expanding production of superconducting cables and magnets, as well as engineering and manufacturing capabilities. This move highlights Europe's ambition to compete with the US and China in fusion energy, although commercial fusion remains technically challenging and unproven at scale.

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