The Spark – The Technology Prize: How a Munich Start-up Wants to Revolutionize the Energy Industry
Runner-up for "The Spark – Der Technologiepreis": Proxima Fusion from Munich. The fusion technology start-up could revolutionize the energy industry.
Proxima Fusion, a Munich-based fusion startup, aims to revolutionize the energy sector with its vision to "bring the sun to Earth". The company, co-founded and led by Jorrit Lion, has won the second place in "The Spark - Der Technologiepreis" and has become Europe's first fusion energy unicorn. In July, Proxima Fusion raised over €400 million in funding and was valued at over €2 billion.
The company has investors including RWE, UVC Partners, Cherry Ventures, XTX Ventures, and East X Ventures. UVC's Benjamin Erhard expects Proxima to prove that the first commercial fusion power plant will be built in Europe.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
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