Proxima Fusion, founded in 2023 in Munich, Germany, by former Max Planck Institute for Plasma Physics researchers, designs stellarator fusion power plants and plans Alpha, a net-energy demonstrator. In July 2026 it raised €411 million, which it describes as the largest private investment in European fusion.
At a glance
| Price from | Custom |
| Best for | Utilities and investors tracking fusion power |
From Proxima Fusion's own website.
What stands out
- Strategic backing from Google and RWE
- Builds on decades of stellarator research
Worth knowing
- Pre-revenue
- No power plant built yet
How it ranks
Proxima Fusion is ranked 5th of 10 in Best Fusion Energy Companies (Lister Score 92.0).
#5 in Best Fusion Energy Companies · Lister Score 92.0
Proxima Fusion, based in Munich with offices in Oxford and Zurich, designs stellarator power plants and plans Alpha, a net-energy demonstrator near Munich. In July 2026 it raised €411 million, which it describes as the largest private investment in European fusion.
Google and RWE joined Proxima Fusion's €411 million round in July 2026 as strategic investors..
| Rank | Best Fusion Energy Companies | Score |
|---|---|---|
| 1 | Commonwealth Fusion Systems | 97.0 |
| 2 | Helion Energy | 95.8 |
| 3 | TAE Technologies | 94.5 |
| 4 | Pacific Fusion | 93.2 |
| 5 | Proxima Fusion | 92.0 |
| 6 | Type One Energy | 90.7 |
| 7 | Tokamak Energy | 89.4 |
| 8 | General Fusion | 88.1 |
| 9 | Zap Energy | 86.8 |
| 10 | Thea Energy | 85.4 |
Frequently asked questions
How does Proxima Fusion rank on Lister?
Proxima Fusion is ranked 5th of 10 in Best Fusion Energy Companies (Lister Score 92.0).
Appears in
- #6 in Best Deep Tech Startups in Europe · Startups
Add this badge to your site
If you work at Proxima Fusion, paste this code into your website to show where it ranks on Lister. The badge links to the ranking and updates within a day when the rank changes.