RWE has invested 25 million euros in the funding round of Munich-based magnetic fusion start-up Proxima Fusion. RWE had already signaled its willingness to make a financial investment in the cooperation agreement signed in February between the Free State of Bavaria, Proxima Fusion, the Max Planck Institute for Plasma Physics (IPP) and RWE. In this agreement, the partners reaffirm their intention to collaborate towards the first commercial magnetic fusion power plant at RWE’s Gundremmingen site.
Nuclear fusion is developing at a rapid pace worldwide – and Germany is playing an increasingly important role in this field. The involvement of renowned international investors in Proxima Fusion clearly demonstrates that German fusion companies are recognized globally as key drivers of fusion innovation. Germany offers a unique environment for nuclear fusion: excellent research institutions, ambitious start-ups, committed industrial partners, an efficient supply chain and suitable former nuclear sites that can be utilized for fusion development. These are outstanding conditions for gaining a decisive speed advantage in the global competition for fusion energy. Germany therefore has the best chance of maintaining and further expanding its leading role in nuclear fusion within the global competitive landscape.
Dr. Markus Krebber, CEO RWE AG: 'Thanks to strong research and innovative start-ups such as Proxima Fusion, Germany can become a key player in nuclear fusion. It is now crucial that the federal and state governments shape the framework conditions in such a way as to specifically accelerate the development towards a commercial fusion reactor in Germany. RWE is contributing to this by investing in both magnetic and laser fusion companies and by making available our decommissioning sites, with their existing nuclear infrastructure, and our expertise in regulatory approvals. In doing so, we are creating significant time and cost advantages in the international race for fusion.'
Proxima Fusion has chosen the Gundremmingen site for the development of the first commercial magnetic fusion power plant. The company, together with the IPP and with the support of the Free State of Bavaria, has submitted a bid in the federal government’s ongoing tender for a magnetic fusion hub. RWE will – if the site is awarded the contract for the magnetic fusion hub – consistently continue the decommissioning process in order to make the existing nuclear infrastructure available as early as possible for reuse in fusion-related activities. Gundremmingen will thus play a central role in the industrialization of fusion technology in Germany. Proxima Fusion will now initiate the necessary approval process for Gundremmingen with the Bavarian Ministry of the Environment.
Source: RWE
