Proxima Fusion, Lower Saxony Plan €140M HTS Tape Factory
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Hannover – September 15, 2026 -- Proxima Fusion and the German state of Lower Saxony have signed a memorandum of understanding to build Europe's first large-scale industrial production site for high-temperature superconductor (HTS) tape used in fusion reactors, with investments of roughly €140 million planned for the first two project phases through the end of 2029.
State and private capital split the €140 million bill
Proxima aims for a 50-50 split between private and public financing. Lower Saxony intends to contribute €21 million, covering nearly 30% of the planned public funding share.