Backed by lead investor Earlybird, the fusion technology pioneer Marvel Fusion has raised EUR 35 million in its Series A financing to advance its theoretical and experimental campaigns in the development of a novel approach to fusion energy. Collaborating with Siemens Energy, TRUMPF and Thales, Marvel Fusion seeks to provide access to abundant zero-carbon emission energy for a large range of global energy consumers.
Fusion energy is recognized as a potential game-changer in addressing climate change and rising global energy demand. In 2021, the fusion industry managed to attract more than EUR 2.3 billion in VC funding, albeit predominantly in the US. Marvel Fusion now aims to leverage the expertise of European tech leaders to develop commercially viable and uncompromisingly safe fusion-power plant technology. Marvel Fusion’s team pursues a new and more economically attractive fusion technology, and a fast-track route to the commercial application of fusion energy. Marvel Fusion precisely controls the conversion of input laser energy to accelerated fuel particles through the design of its nanostructured targets. This approach allows for higher efficiency in triggering fusion reactions and greater energy yields.
In a future powerplant based on Marvel Fusion’s technology, electricity will be produced with zero-carbon emissions and without any problematic, long-lived waste. Marvel Fusion’s approach to fusion energy comprises in part a novel class of ultra–short, ultra-intense lasers interacting with proprietary nano-structured fuels. The applied laser technology is based on the approach from Donna Strickland and Gérard Mourou who received the Nobel Prize in Physics in 2018. The ongoing collaboration combines Marvel Fusion’s novel approach to fusion energy with the renowned expertise of Siemens Energy, TRUMPF, and Thales. Led by its Chief Technology Officer Dr. Georg Korn, one of the architects of the ELI infrastructure with the world’s most powerful laser systems, Marvel Fusion has begun experimental campaigns in the US and in Japan, validating essential parts of its novel fusion concept.
To further advance its technology development, Marvel Fusion raised EUR 35 million in its Series A, led by Earlybird with significant contributions from PRIMEPULSE, Tobi Lütke and Fiona McKean’s Thistledown Capital, Taavet Hinrikus & Sten Tamkivi (OÜ Notorius), Nicolas Berggruen Charitable Trust and Heinz Dürr Invest GmbH among others. Existing investors Hartmut Neven, Albert Wenger, and Chris Hitchen’s Possible Ventures also participated in the round. To date, Marvel Fusion has raised EUR 60 million in total funds.
Leading international scientists in the field of laser technology and materials science are increasingly recognizing the potential of Marvel Fusion’s technology. Prof. Siegfried Glenzer, professor at Stanford and director of the High Energy Density Division at SLAC Linear Accelerator Center says: “This is a completely new technology concept with disruptive potential. It can open a completely new path to fusion, which enables commercial power generation.” Prof. Glenzer is one of Marvel Fusion’s science advisors.
In parallel to its ongoing experimental and theoretical campaigns, Marvel Fusion is working with Siemens Energy, Thales and TRUMPF to develop the technologies and system components required for a future commercial fusion power plant. Siemens Energy contributes its expertise in the global energy markets, in power plant design and in technology to efficiently convert fusion energy into electricity. TRUMPF and Thales are global leaders in the design, development, and production of industrial scale laser systems. Marvel Fusion’s management team welcomes its new partners: “The new funding round led by Earlybird, and the further collaboration with our strong industrial partners, reflects on the potential of our unique fusion approach,” says Marvel Fusion CEO Moritz von der Linden. “We would like to thank our investors and partners for their trust and support.”
“The creation of abundant zero-emission electricity is one of humanity’s greatest endeavors,” says Hendrik Brandis, Co-founder and Partner at Earlybird. “We are confident that Marvel Fusion will lead the race to turn fusion-based electricity into a reality and become a global champion made in Europe.” Brandis has joined the board of Marvel Fusion. “The exponential development of laser systems is key to Marvel Fusion’s novel fusion approach,” says Peter Leibinger, Chief Technology Officer of TRUMPF. “Fusion is an essential component of the energy sovereignty of Europe and Germany. Therefore, we are pleased to jointly develop this important technology.”
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