Google backs Europe's first fusion energy unicorn in record €411m funding round
7 Jul 2026
10:17
Proxima Fusion has raised the largest private fusion round in European history, hitting a €2.4bn valuation.
Google and German energy giant RWE joined as strategic investors, with the cash funding Alpha, the startup's net-energy demonstrator in Bavaria, Germany.
"We are not playing around with the idea of running away to San Francisco," Francesco Sciortino, co-founder and CEO of Proxima Fusion, told Impact Loop in an interview in May.
Google and German energy giant RWE joined as strategic investors, with the cash funding Alpha, the startup's net-energy demonstrator in Bavaria, Germany.
"We are not playing around with the idea of running away to San Francisco," Francesco Sciortino, co-founder and CEO of Proxima Fusion, told Impact Loop in an interview in May.
Proxima Fusion has raised €411m at a €2.4bn valuation, making the Munich-based startup Europe's first fusion energy unicorn.
The round is the largest private investment ever in a European fusion company. It also makes Proxima the best-funded fusion startup on the continent.