BERLIN, February 26. /TASS/. German startup Proxima Fusion, the German state of Bavaria, energy company RWE, and the Max Planck Institute for Physics have signed a memorandum of cooperation to build the world's first commercial fusion power plant, Proxima Fusion announced in a press release.
"Another milestone in Bavaria’s high-tech success story: nuclear fusion represents an entirely new technology capable of delivering baseload, CO-free, clean electricity in virtually unlimited quantities. It has the potential to meet the exponential growth in power demand driven by electric mobility, AI and data centers," Dr. Markus Soder, Minister-President of Bavaria, said as quoted in the press release.
The project will be implemented in two phases. In the next decade the Alpha demonstration fusion reactor, costing €2 billion, will be built. Then, a power plant is to open in Gundremmingen, Bavaria, where Germany's largest nuclear power plant operated until 2021. The Bavarian government has indicated it could cover up to 20% of the project's cost. Proxima Fusion hopes to secure an additional 20% in private investment.