Proxima Fusion recently raised €411m at a €2.4bn valuation, the largest funding round in European fusion. The company is building a fusion reactor designed to produce clean, safe energy continuously, without the risk of a runaway reaction.
Francesco Sciortino is Co-Founder and CEO of Proxima Fusion. The company has around 200 people working across Munich, Zurich and Oxford. Proxima's next milestone is a full-scale magnet that will prove the reactor design works, expected by the end of 2027.
The Scaling Europe show is presented by Deel. Check them out here: https://get.deel.com/ruynb7o4lfjk
Sponsors:
Chargebee: https://www.chargebee.com/events/beelieve/london/2026
SurrealDB: https://surrealdb.com/
Airwallex: https://www.airwallex.com/uk?utm_source=other&utm_medium=partner_referral&utm_campaign=v01_emea_multi_ib_dg_prtmk_mofu_scalingeurope
Lovable: https://lovable.dev/
Timestamps:
0:00 - Introduction
0:09 - Proxima Fusion's €411m raise
0:50 - What fusion actually is
4:04 - Why Proxima bets on stellarators over tokamaks
9:29 - What's changed to bring investors on board
11:42 - Inside the Bavarian government partnership
16:12 - The next milestone: the Stellarator Model Coil
18:29 - Publishing the Stellaris power plant design
20:38 - Supply chain risk for fusion magnets
