Core Insights - Proxima Fusion, a German startup, has raised a record €130 million in funding, marking the largest financing round in the European fusion sector [2][3] - The company aims to develop a stellarator fusion device, which contrasts with the traditional tokamak approach, potentially offering greater plasma stability and commercial viability [3][4] Funding and Investment - The funding round was led by Cherry Ventures and Balderton Capital, with Cherry Ventures' partner expressing confidence in Proxima's potential to address significant global challenges [2] - Proxima Fusion was founded two years ago with an initial seed funding of €7 million from the Max Planck Institute for Plasma Physics [2] Technology and Development - Proxima Fusion is focusing on the development of a stellarator, which has a more complex design than the tokamak but is believed to be better suited for commercial power generation [3] - The company plans to construct a "Stellarator Model Coil," a powerful magnet, by 2027, which is seen as a critical technological milestone [4] Future Plans - Proxima aims to build a demonstration plant by 2031, with an estimated cost of €1 billion, and hopes to secure partial funding from the European government [4] - The ultimate goal is to establish the first commercial fusion power plant in the 2030s, although the commercialization of fusion energy still faces significant uncertainties [4]