francesco sciortino

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: SMC full-scale HTS magnet by end-2027, then Alpha net-energy device, then Stellaris commercial plant. Steady-state operation avoids tokamak disruptions, enabling dispatchable baseload.

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 European investors (Google, KfW, family offices). Model demonstrates how sovereign deep-tech champions can be built without early US capital dependence.

Stellaris targets 50 reactors by 2050 by being commercially compelling — not cheaper than photovoltaics, but lowering overall system cost by providing firm dispatchable power that eliminates need for massive overbuild and storage. Cost and schedule discipline are the ultimate metrics.