Marvel Fusion targets 35 million euros onshore

In addition, Siemens Energy, Trumpf and Thales are supporting the company in the development of nuclear fusion.

Munich-based startup Marvel Fusion has received 35 million euros in a Series A round. Most of the money came from investor firm Earlybird. Other new investors include Primepulse, Tobi Lütke and Fiona McKeans of Thistledown Capital, Taavet Hinrikus and Sten Tamkivi of OÜ Notorius, Nicolas Berggruen of Charitable Trust, and Heinz Dürr of Invest GmbH. Existing investors Hartmut Neven, Albert Wenger and Chris Hitchen from Possible Ventures also participated again in the round. In total, the company has already raised funds of €60 million.

Marvel Fusion aims to advance nuclear fusion technology and make it profitable. This is seen as a potential key technology for stemming the climate crisis. It is based on nuclear energy, is considered particularly safe, is said to cause no CO2 emissions, and produces no long-lived and problematic waste. In order to develop the technology further, Marvel Fusion has now sought reinforcement from industrial giants: energy group Siemens Energy, technology company Trumpf and technology company Thales are to accelerate the development of nuclear fusion.

In the future, Marvel Fusion plans to generate electricity in its own power plant. The company's approach to fusion energy in part involves so-called ultrashort, ultra-intense lasers that interact with fuels. The laser technology used is based on the approach of Donna Strickland and Gérard Mourou, who won the 2018 Nobel Prize in Physics.