Proxima Fusion, RWE, Bavaria and Max Planck sign agreement to build world's first commercial stellarator fusion power plant in Europe

Proxima Fusion has signed a memorandum of understanding with the Free State of Bavaria, RWE and the Max Planck Institute for Plasma Physics. The agreement aims to build the first commercial stellarator fusion power plant in Europe. The roadmap starts with a demonstration stellarator called Alpha near the Max Planck Institute in Garching. When operational in the 2030s Alpha will seek to demonstrate net energy gain. It will also allow testing of key technologies in shorter cycles ahead of the commercial plant Stellaris. Stellaris is planned for the site of a former nuclear fission power plant in Gundremmingen that RWE is decommissioning. The four partners will collaborate on site selection, permitting, project structure and financing. The Max Planck Institute for Plasma Physics will lead on plasma physics and scientific leadership for Alpha. Proxima Fusion will lead on engineering, public procurement and construction. RWE will contribute experience in power plant construction and operation plus its global industrial network. The partners are pooling efforts to secure federal funding under the High-Tech Agenda Germany. Proxima Fusion intends to finance about 20 percent of costs through private international investors. The Free State of Bavaria has indicated potential state co-financing of 20 percent subject to federal funding. RWE has signaled willingness to participate financially. The projects are expected to create thousands of jobs and supplier contracts for European manufacturers and engineers in construction, manufacturing, electrical systems and magnet systems.