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▶ 4:24 · Nuclear Energy · Stellarator fusion de-risked by W7-X validation and HTS magnets, enabling steady-state baseload power
episode briefing
Scaling Europe

Building the critical power infrastructure for clean energy: Francesco Sciortino, Proxima Fusion

2026-07-16 · 3 company · 6 thematic
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speakers
francesco sciortino

Former tokamak researcher at MIT and Max Planck Institute; pivoted to stellarator approach in 2022 after W7-X validation; raised €411M Series B at €2.4B valuation to build commercial fusion power plants.

now playing · Nuclear Energy
Nuclear Energytailwindscore 8/10francesco sciortino
Stellarator fusion de-risked by W7-X validation and HTS magnets, enabling steady-state baseload power
The 2022 full-power success of the W7-X stellarator at Max Planck Institute proved the physics basis for stellarators, eliminating the last major physics drawback (high-energy particle conf…
Nuclear Energytailwindscore 8/10francesco sciortino
Stellarator fusion path de-risked: W7-X validation enables engineering-first approach to commercial power by late 2030s
The Wendelstein 7-X stellarator achieved full-power operation in 2022, retiring the last major physics risk (high-energy particle confinement). Proxima now pursues an engineering-first path…
Energy & Power Generationtailwindscore 8/10francesco sciortino
European fusion sovereignty playbook: public-private capital stack with Bavarian €400M non-dilutive anchor unlocks private Series B
Bavarian government provided €400M non-dilutive capital alongside Max Planck Institute (1,200 people) and RWE, creating a de-risked ecosystem that catalyzed a €411M private round led by Eur…
Government Technologytailwindscore 7/10francesco sciortino
Bavarian government's 400M non-dilutive fusion funding creates repeatable European deep-tech playbook
The Bavarian government committed 400M euros non-dilutive capital to Proxima Fusion alongside Max Planck Institute and RWE, de-risking private investment by validating the ecosystem (nation…
Grid & Power Infrastructuretailwindscore 7/10francesco sciortino
Fusion as dispatchable baseload complement to solar/wind lowers total system cost despite higher LCOE
Fusion does not need to beat photovoltaics on LCOE; it needs to complement intermittent renewables by providing dispatchable gigawatt-scale power so the overall energy system becomes cheape…
Critical Minerals & Supply Chainriskscore 6/10francesco sciortino
HTS tape supply chain concentrated in Japan with China rising; Europe must develop sovereign capacity for fusion
High-temperature superconducting tape — the critical material for fusion magnets — is currently dominated by Japanese suppliers, with China scaling rapidly. Europe and the US have nascent e…