Google and German utility RWE participated in a €411 million ($469 million) funding round for Proxima Fusion. The investment values the Munich-based startup at €2.4 billion.
Proxima Fusion aims to develop Europe’s first commercial fusion power plant. The company will use the capital to support the development of its stellarator demonstrator technology.
This move aligns with Alphabet’s broader strategy to back sustainable and carbon-free energy solutions. The project represents a significant expansion into the renewable energy sector for the technology giant.