The Munich-based start-up Proxima Fusion, a spin-out from the Max Planck Institute for Plasma Physics, has raised €130 million in capital. The company plans to use the funds to finance the development of the world’s first stellarator-based fusion power plant, which is scheduled to be built in the 2030s. The investment represents the largest private financing round in the field of fusion energy in Europe to date. Proxima Fusion now has a total of more than €185 million in public and private funding at its disposal.