Proxima Fusion Partners with Japanese Firms to Build European Superconducting Tape Supply Chain
Munich-based fusion startup Proxima Fusion has signed memoranda of understanding with Japanese companies Fujikura and Kyoto Fusioneering to bolster the development of commercial fusion energy technology. The partnership aims to address critical supply chain shortages, specifically regarding high-temperature superconducting (HTS) tape required for magnetic confinement in stellarator devices. Proxima Fusion plans to establish a manufacturing facility in Lower Saxony, Germany, with an estimated cost of 140 million euros. This facility targets an annual production of 5,000 kilometers of HTS tape by 2030 to support the company's 'Alpha' demonstrator and future 'Stellaris' power station. The move is viewed as a strategic effort to reduce Europe's technological dependence on external powers like China and secure industrial leadership in the clean energy sector.
Tickers: $FJIKY
Topics: clean energy technology fusion energy strategic partnerships supply chain development