'Don't pick a new Northvolt': Proxima Fusion’s CEO on how to fund ‘civilisation-changing’ green projects
7 maj 2026
16:58
Proxima Fusion recently secured state backing to build a €2bn fusion test facility in Germany.
As the startup embarks on one of Europe's most ambitious deep tech projects, CEO and co-founder Francesco Sciortino shares his vision for how the continent can fund brand new green industries.
"Some things are simply bigger than any one company,” he tells Impact Loop in an interview.
As the startup embarks on one of Europe's most ambitious deep tech projects, CEO and co-founder Francesco Sciortino shares his vision for how the continent can fund brand new green industries.
"Some things are simply bigger than any one company,” he tells Impact Loop in an interview.
When Northvolt went bankrupt last year it all but ended Europe’s dream for a homegrown battery champion. It also left many unanswered questions about how green projects should be funded.
Francesco Sciortino, CEO and co-founder of Proxima Fusion, which recently secured Germany’s backing to build a €2bn fusion test facility in Bavaria, thinks Europe can learn a thing or two from Northvolt’s struggles.