Investment in nuclear fusion technology company Proxima Fusion
Portfolio fund Cherry Ventures V invested in Proxima Fusion’s Series A round in the second quarter. At the end of 2023, portfolio fund Plural II had already invested in the Seed round of this German startup. Proxima Fusion has developed innovative technology that makes generating energy through nuclear fusion safer and more efficient. The company uses precision engineering and AI optimization to build a new, improved type of nuclear reactor. The Stellarator Model Coil (SMC) uses extremely strong magnets to sustain a continuous nuclear fusion reaction, enabling the generation of very large amounts of energy. Development of the SMC runs through the end of 2027, followed by four years of testing, with commissioning planned for 2031.
