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Google Joins €411 Million Funding Round For Proxima Fusion

Google has joined a €411 million ($468 million) funding round for German startup Proxima Fusion, backing the company’s ambition to build Europe’s first commercial nuclear fusion power plant.

The investment is part of Proxima’s latest financing round, led by XTX Ventures and East X Ventures, with RWE, Google, Plural, UVC Partners, Balderton and Cherry Ventures also participating. The deal values the Munich-based company at $2.7 billion.

Why Fusion Is Drawing Attention

Nuclear fusion has long been viewed as one of the energy sector’s biggest breakthroughs. By fusing hydrogen atoms into helium, the process has the potential to generate vast amounts of carbon-free electricity with far less long-lived radioactive waste than conventional nuclear power.

Despite its promise, fusion remains commercially unproven, with companies still working to overcome significant engineering and materials challenges before the technology can operate at scale.

Unlike fusion, today’s nuclear power stations generate electricity through nuclear fission, which splits atoms to release energy.

Google Expands Its Fusion Investments

The latest investment strengthens Google’s growing presence in the fusion sector as the company looks for long-term sources of clean, reliable electricity to support its expanding energy needs.

“Europe is racing with the United States and China to get to the first fusion power plant,” said Proxima co-founder and CEO Francesco Sciortino. “This financing demonstrates that Europe can not only invent breakthrough technologies, but also build globally competitive companies around them.”

Building A European Fusion Champion

Proxima is developing stellarator reactors, a fusion design widely regarded as more complex than the better-known tokamak but potentially capable of delivering greater long-term operational stability.

The company aims to complete a fusion demonstrator in the early 2030s before developing a commercial power plant later in the decade.

The new funding will be used to expand production of high-temperature superconducting magnets and cables, strengthen manufacturing capabilities and accelerate hiring across engineering, operations and industrial development.

Competition Is Intensifying

While Proxima is now Europe’s best-funded fusion startup, U.S. competitors continue to lead in total capital raised.

According to Dealroom, Commonwealth Fusion Systems has secured $2.9 billion in funding after raising $863 million last year. Helion Energy, backed by Sam Altman, has raised a total of $1.5 billion following a $465 million financing round announced last month.

Google is also an investor in Commonwealth Fusion Systems and signed an electricity purchase agreement with the company in 2025, contingent on its first commercial fusion plant becoming operational.

At the time, Google described fusion as a technology with the potential to provide “clean, abundant and inherently safe” energy, while acknowledging that bringing it to commercial scale remains an immense technical challenge.

Europe’s Deadly Summer Heat Exposed The Cost Of A Warming Continent

Europe experienced its deadliest summer for heat-related deaths on record in 2026, with an estimated 24,400 excess deaths linked to extreme temperatures across 30 countries. Researchers estimate that human-induced climate change was responsible for around 32,000 of the deaths attributed to heat in the study’s broader analysis, accounting for 65% of the total.

The findings highlight the growing public-health consequences of global warming, largely driven by fossil fuel use, as extreme heat becomes more frequent and severe.

A Summer Of Dangerous Heat

Between June and August, heatwaves pushed temperatures in Western Europe to an average of 2.9°C above the 1991–2020 norm, with some days reaching 12°C above average. Nearly a third of estimated heat-related deaths occurred during a particularly intense heatwave between 17 June and 1 July.

“These numbers are a stark reminder that our hotter, more extreme summers are having an increasingly severe impact on public health,” said Dr Clair Barnes, a researcher at Imperial College London and co-author of the study.

The estimated toll exceeded previous peaks of around 29,000 deaths in summer 2022 and 28,000 in 2003 across the region studied.

How Researchers Estimated The Toll

Researchers modelled the relationship between temperature and mortality across 854 urban areas in the EU, UK, Norway and Switzerland, covering around 40% of the population in the 30 countries studied.

The analysis incorporated temperature records, age, socioeconomic conditions, environmental factors and access to healthcare. By comparing actual temperatures with those expected without human-induced warming, the team estimated the additional deaths attributable to climate change.

Final official mortality figures for summer 2026 are not yet available in many countries, and heat-related deaths are often underreported because their effects can be difficult to identify directly.

Older People Face The Greatest Risk

People aged 85 and over accounted for roughly half of the estimated deaths. However, the impact extended across age groups, with around 800 excess deaths among adults aged 20–44 and approximately 6,000 among people under 65.

Southern Europe experienced the highest mortality burden, reflecting hotter temperatures and other vulnerabilities, including air pollution, limited green space and unequal access to healthcare and heat-alert systems.

Italy, France And Spain Record Highest Toll

Italy recorded an estimated 13,303 heat-related excess deaths, followed by France with 7,268 and Spain with 6,824. Germany recorded around 6,340, while the UK saw an estimated 4,354 deaths.

In the UK, the heat also placed significant pressure on healthcare services. Andrew Hartle, Professor of Practice of Anaesthesia at Imperial College Healthcare, said demand during the summer resembled that of a severe winter virus season.

Cities Urged To Strengthen Heat Protection

Researchers say cities can reduce the risks through climate shelters, external shading and building retrofits, alongside measures to help residents avoid exposure during the hottest hours. Checking on vulnerable people, staying hydrated and following heat alerts are also important.

The researchers stress that adaptation must go hand in hand with reducing fossil fuel use to limit further warming. The findings underline that extreme heat is already a major public-health threat across Europe, with thousands of lives at risk each summer.

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