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HomeFunding Munich-based Deeptech Startup Proxima Fusion has Extended its Pre-Seed Round to...

[Funding alert] Munich-based Deeptech Startup Proxima Fusion has Extended its Pre-Seed Round to €7.5 Million

Munich-based deeptech startup Proxima Fusion has extended its pre-seed round to €7.5 million. bring to the table a plethora of unicorn founders, family offices, and business titans.
Team – Proxima Fusion

Munich-based deeptech startup Proxima Fusion has extended its pre-seed round to €7.5 million. bring to the table a plethora of unicorn founders, family offices, and business titans.

Using a quasi-isodynamic stellarator configuration of energetic ions at low plasma beta, the company reports that multiple top scientists and engineers from TUM, EPFL, Stanford, MIT, Harvard, Lilium, Tesla, and Google are moving to Munich to work on what might become the first commercial fusion power plant in history.

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Although nuclear fission is perhaps well known to the uninitiated spectator of nuclear power, it essentially involves dividing an atom into smaller ones in order to liberate the binding energy at its centre.

In contrast, a fusion reaction generates energy when two lighter atomic nuclei unite or fuse to form a heavier nucleus by being heated to extremely high temperatures. Only helium, an inert gas, is produced throughout the process instead of long-lived radioactive nuclear waste.

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Nuclei become plasma, an arrangement of positively charged particles (ions) and negatively charged particles (electrons), because they have to be heated to such high temperatures in order to fuse. Fusion reactions in restricted plasma happen at the moment of particle impact, in contrast to the uncontrollable reaction that takes place during a hydrogen bomb detonation.

The QI stellarators method utilised by Proxima Fusion is based on the observation that the majority of the magnetic field is produced outside of the containment structure, negating the need for an inductive toroidal current to do so.

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Proxima Fusion co-founder and CEO Francesco Scortino commented: “We are determined to make Proxima Fusion a European clean energy champion. Over the past 10 months, we have demonstrated quality of execution, again and again.We are thrilled at the unicorn founders, family offices and industry leaders who have now invested in Proxima, many of them via the Visionaries Tomorrow fund, and will support us along the way.”

About Proxima Fusion

Proxima Fusion, a Fusion Energy Germany-based startup. They think there is a chance that fusion will produce safe, plentiful, and clean energy. As the strategy with the clearest path to grid deployment of fusion energy, they are pursuing QI stellarators.

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