Google and RWE invested 411 million euros in nuclear fusion startup Proxima Fusion

German startup Proxima Fusion has raised €411 million ($469 million) in a new funding round led by energy giant RWE AG and Alphabet Inc., the parent company of Google, bringing the company's valuation to €2.4 billion. The company is developing a nuclear fusion power plant, which it expects to commission in the 2030s.

Who invested in the fusion startup

The round includes RWE AG — one of Germany's largest energy conglomerates — and Alphabet Inc., Google's parent company. The participation of a major energy player and one of the world's leading tech giants highlights growing interest from traditional energy and big tech in nuclear fusion as a source of virtually unlimited and low-carbon energy.

• Round size — €411 million ($469 million)
• New company valuation — €2.4 billion
• Investors include RWE AG and Alphabet Inc. (Google)
• Goal — nuclear fusion power plant, commissioning in the 2030s
• Proxima Fusion — a German startup

Why Google is investing in nuclear fusion

The interest of tech giants in nuclear fusion energy in recent years is primarily explained by the rapidly growing energy consumption of data centers that train and power artificial intelligence models. Major cloud providers are already signing long-term agreements with nuclear and promising energy startups to secure sufficient stable, low-carbon energy for decades to come. Nuclear fusion in theory could provide an almost unlimited source of energy without the long-lived radioactive waste characteristic of traditional nuclear plants — but there are no commercially operating reactors in the world yet.

What this means

The investment shows that the race for AI power is extending beyond traditional nuclear generation and solar-wind capacity: major businesses are willing to finance technologies with payback horizons of a decade or more, just to meet the future power demands of data centers.

Frequently asked questions

How much did Proxima Fusion raise?

The company raised €411 million ($469 million) in the new round, bringing its valuation to €2.4 billion.

Who invested in Proxima Fusion?

Investors in this round include the German energy conglomerate RWE AG and Alphabet Inc., Google's parent company.

When will

Proxima Fusion's nuclear fusion power plant be operational?

The company expects to commission the power plant in the 2030s, though no exact date has been announced.