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Proxima Fusion plans €140M factory for fusion-grade HTS tape

Proxima Fusion plans €140M factory for fusion-grade HTS tape Image: Primary
Proxima Fusion said Wednesday it plans to build a €140 million ($162.6 million) factory to produce fusion-grade high-temperature superconducting tape, the key component for the magnets in its reactor design. The Germany-based startup will use a mix of public and private funding, with the state of Lower Saxony contributing €21 million. Its demonstration plant will need 20,000 kilometers of HTS tape, and its commercial power plant twice as much. Most HTS tape is currently made in China and Japan. The announcement follows a €411 million raise months earlier. The factory is planned, not built, and no production date or output capacity was stated.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
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