Marvel Fusion, Europe’s top fusion energy startup, has extended its Series B round by €50 million, bringing the total investment closed in the round to €113 million. New investors include EQT Ventures, Siemens Energy Ventures, and the European Innovation Council (EIC) Fund, making this the EIC’s first equity investment in a fusion startup. Returning investors Tengelmann Ventures and Bayern Kapital also contributed.
The newly raised funds will drive Marvel Fusion’s transition from research to industrial-scale deployment. A major portion will go toward enhancing high-energy laser systems, which are crucial for its laser-driven fusion technology.
The company is developing two laser prototypes and building industrial partnerships to scale production. It is also advancing the $150 million laser facility in partnership with Colorado State University, which will be key to validating its fusion process. Additionally, Marvel Fusion is collaborating with Siemens Energy on the conceptual design of a fully integrated fusion power plant.
Addressing energy security and climate challenges
The company was founded in 2019 in Munich by Georg Korn, Karl-Georg Schlesinger, Moritz von der Linden, and Pasha Shabalin, a seasoned entrepreneur with experience in deep-tech and energy ventures. The company’s leadership team includes globally recognised physicists, engineers, and laser experts who are pioneering advancements in laser-based fusion technology.
Marvel Fusion is tackling the twin challenges of energy security and climate change. With growing geopolitical uncertainties and rising energy costs, Europe is seeking alternatives to fossil fuels to ensure energy independence. Fusion energy offers a long-term solution by providing safe, clean, and virtually limitless power. Marvel Fusion’s approach aims to overcome traditional fusion challenges by using high-energy lasers to generate commercially viable energy output at competitive prices.
Innovative laser-based fusion technology
Marvel Fusion is developing a laser-based nuclear fusion reactor technology to generate clean, reliable energy by harnessing the power of the sun, aiming to commercialise baseload fusion electrical power. Its approach relies on inertial confinement fusion (ICF), using ultra-intense lasers to target fuel pellets and trigger fusion reactions.
Unlike traditional magnetic confinement fusion systems like ITER, this method promises a more compact and scalable solution. By optimising laser technology and fuel targets, Marvel Fusion aims to develop fusion power plants that can provide reliable and cost-effective energy.
The race to achieve commercial fusion energy includes several well-funded global players:
- TAE Technologies: The US-based startup is developing a boron-based reactor using beam-driven plasma confinement.
- Commonwealth Fusion Systems: Yet another US startup leveraging high-temperature superconducting magnets for tokamak-based fusion.
- Helion Energy: This US-based company is Pursuing magneto-inertial fusion with a focus on commercial scalability. Recently, the Sam Altman-backed company secured $425 million in funding.
- First Light Fusion: The UK-based startup is exploring projectile-driven inertial fusion as a low-cost alternative.
Marvel Fusion’s laser-based approach distinguishes it and gives it a competitive edge in scalability and cost-efficiency.
What are the next steps for Marvel Fusion?
Marvel Fusion’s roadmap includes several critical milestones finalising and testing its high-energy laser systems, launching the laser testing facility with Colorado State University, strengthening collaborations with Siemens Energy and other key industrial partners, and demonstrating that its fusion technology can generate more energy than it consumes, paving the way for commercialisation.
Marvel Fusion is now at the forefront of Europe’s push for energy sovereignty. If successful, its laser-based fusion technology could reshape the global energy landscape, offering a sustainable and economically viable path to clean, reliable baseload energy.
Moritz von der Linden, founder and CEO of Marvel Fusion, said: “Welcoming the EIC Fund, EQT Ventures and Siemens Energy to our shareholder board is fantastic; it gives us the financial and operational backing for executing the required milestones towards building the world’s first fusion prototype.”
Juha Pankakoski, Executive Vice President Global Functions at Siemens Energy, comments: “We have long been involved with Marvel Fusion, contributing our expertise and we look forward to continuing our joint work. We hope this important technology becomes a reality, enabling reliable energy. When that day arrives, Siemens Energy is committed to being at the forefront.”
Antonia Schmalz, CTO of Pulsed Light Technologies and innovation manager at SPRIND, says: “Providing the initial funding for the first two prototypes, SPRIND is committed to supporting Marvel Fusion’s path to scaled laser production and their further mission to build a fusion power plant.“
Ted Persson, Partner at EQT Ventures, said: “Needless to say, solving fusion would be a generation-defining moment for humanity. We’ve followed the fusion space since the early days of EQT Ventures. The exceptional team at Marvel Fusion has proven time and again that fusion energy is within reach, and we are more than excited to partner with them.”
Svetoslava Georgieva, Chair of the EIC Fund Board, added: “The European Innovation Council’s Fund participation underscores a significant advance, demonstrating the EIC commitment to high-impact innovation by private fusion companies and in line with fusion technology’s position as a strategic technology for Europe.”
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