francesco sciortino

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 confinement). Combined with high-temperature superconducting magnet scaling, this enables a steady-state, intrinsically stable fusion device that operates continuously without tokamak-like disruptions, making commercial fusion a credible 2030s prospect rather than a 2040s+ science project.

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.

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 (national lab, private capital, site access). This public-private partnership model — leveraging existing research infrastructure, energy utility sites, and staged government funding — is a template Europe can replicate for other capital-intensive deep-tech sectors.

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 cheaper. The stellarator's steady-state operation (like a microwave oven, not pulsed) makes it uniquely suited for baseload grid integration, targeting 50 reactors by 2050 to achieve system-level cost reduction.

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 efforts but lack volume. Proxima intends to help European suppliers scale, but sovereign fusion deployment requires Europe to 'punch' and establish domestic HTS tape production to avoid strategic dependency.