Proxima Fusion bets €140M on a critical fusion ingredient dominated by Asian suppliers
Proxima Fusion is investing €140 million in a new factory to produce high-temperature superconducting (HTS) tape for its fusion reactors. This move aims to reduce reliance on Asian suppliers for a critical component of fusion energy technology.
Why it matters
Securing the supply chain for fusion components is essential for the commercial viability of clean energy startups.
Proxima Fusion is betting on a critical ingredient for its fusion reactors: superconducting tape.
Proxima Fusion said Wednesday it plans build a €140 million factory ($162.6M) to produce fusion-grade high-temperature superconducting (HTS) tape, which will provide the startup with key component to its reactor design.
The move comes months after Proxima raised €411 million in a round that catapulted the company up the ranks of the best-funded fusion startups . The Germany-based fusion startup plans to use a mix of public and private funding to complete the factory, with the state of Lower Saxony chipping in €21 million.
Proxima will use HTS tape to generate powerful magnetic fields to contain the plasma required to spark fusion reactions.
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