Alpha is Proxima Fusion's planned demonstration quasi-isodynamic stellarator near the Max Planck IPP in Garching, estimated at €2 billion and targeted for the early 2030s. Proxima raised €411 million in July 2026, bringing its total to over €650 million, with Bavaria pledging up to €400 million in public support.
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Current state
| Status | Design |
| Country | Germany |
| Location | Garching, near Munich, Bavaria |
| Developer | Proxima Fusion |
| Developer type | Private |
| Concept | Stellarator |
| Fuel | D-T |
| Purpose | Demonstration |
| Site | Near IPP Garching (per 2026 MoU) |
| Private funding raised | EUR 650m (as of 2026-07-07) |
| Public funding | Bavaria up to €400m (High-Tech Agenda); €95m public grants received |
Notes
first plasma target not set: sources say 'early 2030s'/'2030s' without a year. Series A month (June 2025) from secondary coverage. FIA's 2026 report cites a $518m Proxima round (likely USD conversion including other tranches) vs. €411m announced.
Timeline
- 2025-06 — Proxima Fusion closed a €130 million Series A, bringing total funding above €185 million. (source)
- 2026-03-03 — Proxima signed an MoU with Bavaria, RWE and Max Planck IPP to build the Alpha demonstrator near Garching and a plant at Gundremmingen. (source)
- 2026-07-07 — Proxima raised €411 million at a €2.4 billion valuation, taking total funding to over €650 million. (source)
The timeline is append-only: corrections are added as new entries. Stated targets appear in the current-state table, never as milestones.
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Sources
- Largest European fusion investment on record sees Proxima Fusion raise €411 million — EU-Startups, checked 2026-10-11
- Proxima Fusion Raises €411 Million to Build Europe's Commercial Fusion Champion — Proxima Fusion (primary), checked 2026-10-11
- Proxima Fusion signs MOU with Bavaria, RWE, and Max Planck IPP — ANS Nuclear Newswire, checked 2026-10-11
- Proxima Fusion raises €130M Series A — Chemeurope, checked 2026-10-11