Fusion energy company Marvel Fusion has extended its series B funding round by €50 million ($54.2 million) to support the company’s transition from R&D to industrial deployment. The funding includes investments from EQT Ventures, Siemens Energy Ventures, and the European Innovation Council (EIC) Fund, marking their first fusion energy equity investment. Marvel Fusion is currently working to build a $150 million laser facility in partnership with Colorado State University. Full proof of technology at the facility is expected by 2027. The company is also progressing its industrial partnership with Siemens Energy by jointly developing a conceptual design of a fully integrated fusion power plant. Currently building two laser prototypes, Marvel fusion said it is actively forging industrial partnerships for the ramp-up of laser production, which can meet the high-gain requirement needed to offer sufficient energy at competitive prices. The company is part of the PriFUSIO research consortium, led by the Fraunhofer Institute for Laser Technology ILT, and the U.S. Department of Energy's RISE research hub.
