British trading billionaire Alex Gerko has backed Europe's biggest nuclear fusion company as start-ups race to crack the holy grail of renewable energy.
XTX Markets, Mr Gerko's trading firm, has led a €411m (£351m) investment round in Germany's Proxima Fusion.
Google has also invested in the company, as has East X Ventures, the venture capital arm of British investment firm East X.
Munich-based Proxima positions itself as Europe's champion in fusion energy against a raft of US companies seeking to crack the technology.
The company says it hopes to successfully demonstrate fusion power in the early 2030s, paving the way for a commercial plant by the end of the decade.
XTX Markets, Mr Gerko's trading firm, has led a €411m (£351m) investment round in Germany's Proxima Fusion.
Google has also invested in the company, as has East X Ventures, the venture capital arm of British investment firm East X.
Munich-based Proxima positions itself as Europe's champion in fusion energy against a raft of US companies seeking to crack the technology.
The company says it hopes to successfully demonstrate fusion power in the early 2030s, paving the way for a commercial plant by the end of the decade.
4 months ago
