Germany’s Marvel Fusion raises €112mn as nuclear fusion race heats up

Germany’s Marvel Fusion raises €112mn as nuclear fusion race heats up

EQT Ventures and Siemens Energy among new backers in Munich-based start-up’s latest funding round

Munich’s fusion energy firm Marvel Fusion secures €50M

Munich-based Marvel Fusion, a fusion energy company, has extended its Series B funding round by €50M, bringing the total to €113M.  The German company has extended its Series B funding round, bringing its total raised capital to €385M, to date. This includes €170M in private investments and €215M in public cooperation projects. The latest extension round includes new investments from EQT Ventures, Siemens Energy Ventures, and the European Innova…

The Munich-based startup Proxima Fusion aims to solve today's energy problems through nuclear fusion. It's not yet clear whether this is technologically and economically viable—but that hasn't stopped investors from offering the founding team a lot of money.

Germany, which had closed the door to nuclear power in the last decade, is strongly betting on nuclear fusion, a form of clean energy generation that promises to overcome the current limitations of renewables and fossil fuels. The great novelty is the alliance between RWE, one of the country’s energy giants, and the start-up Focused Energy, which seeks to build a 1 gigawatt nuclear fusion pilot plant at facilities where the Biblios nuclear power…