Proxima Fusion signed memoranda of understanding in Tokyo on October 28 with Fujikura and Kyoto Fusioneering to develop the world’s first commercial fusion power plant. Its project with Fujikura focuses on the industrial manufacture in Germany of high-temperature superconducting tape for the magnets that confine plasma in Proxima’s stellarator. The company aims to produce around 5,000 kilometers of the tape annually by 2030 at a 140 million euro facility financed partly by a $468 million funding round. Proxima expects to achieve net energy gain in the early 2030s but faces competition from companies in the United States, Canada, China and Japan. Ann Mettler says Europe must build the supply chain several years in advance to turn its scientific leadership into industrial capability.
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