Munich-based Marvel Fusion, a fusion energy company, has raised 35 million euros in Series A funding. Earlybird led the round.
Munich, February 3rd, 2022 – Earlybird expands its footprint in the DeepTech space: Marvel Fusion, a Munich-based fusion energy company, has closed a EUR 35 million Series A round led by Earlybird to significantly accelerate the commercialization of fusion technology ‘Made In Europe’. Fusion technology combines the advantages of clean energy sources with the possibility to produce baseload energy at large scale – without having the disadvantages of traditional power generation in terms of carbon emissions or long-lived problematic waste. Hendrik Brandis, Partner at Earlybird, comments: “We are currently witnessing a new global spirit of optimism for fusion technologies and – even more importantly – there is a completely new and promising approach for a disruptive, truly clean and uncompromisingly safe fusion technology: Marvel Fusion.
Marvel Fusion was founded in 2019 by Moritz von der Linden, Dr. Karl-Georg Schlesinger, Dr. Georg Korn and Dr. Pasha Shabalin; Chief Operating Officer Heike Freund joined in 2020. The company has gathered a unique team behind their mission to solve one of humanity’s biggest challenges: unlimited zero-emission energy. The team combines a strong entrepreneurial track record with scientific excellence in the fields of nano-technology, plasma physics, computational science, optics and short pulse laser physics. Marvel Fusion combines the expertise of some of the world’s best scientists in these fields, including, amongst others, Dr. Sven Steinke, who spent the last 8 years as a scientist and team leader at the Berkeley Lab researching laser particle acceleration with the BELLA petawatt laser system and previously served as project leader for laser-plasma interactions at the Max Born Institute, and Dr. Georg Korn, one of the co-founder of the European Extreme Light Infrastructure, an EU-funded research facility with the world’s most powerful and advanced laser systems. With the help of strong industrial partnerships with Siemens Energy, TRUMPF, and Thales, Marvel Fusion is working to accelerate the development of its fusion energy concept significantly. The applied laser technology is based on the approach from Donna Strickland and Gérard Mourou which received the Nobel Prize in Physics in 2018.
“Fusion technology has the potential to disrupt energy production at large scale and to significantly contribute to fighting climate change, one of the biggest challenges for mankind”, says Moritz von der Linden, CEO of Marvel Fusion. “Together with our new investors and partners on board, we will be able to progress substantially in our experimental roadmap and validation strategy, and to further deliver on our vision making zero-emission energy accessible and affordable for everyone.”
Fusion technology is one of the key technologies in the global energy sector. In 2021, the fusion industry managed to attract more than EUR 2.3 billion in VC funding. The technology by Marvel Fusion is centered around integrating Europe’s technology and scientific leadership in short-pulse laser- and nanotechnologies to initiate efficient non-thermal nuclear fusion. Instead of heating the fuel plasma to very high temperatures, Marvel Fusion is precisely controlling the conversion of the input laser energy into fusion-relevant particles through the design of its nano-structured targets. This process allows for more efficient triggering of fusion reactions and energy production.
The investments in DeepTech champions such as Marvel Fusion, Isar Aerospace and Aleph Alpha are good examples of how Earlybird uses its sector expertise to systematically identify and support cutting-edge European high-tech startups.