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00:02Google backed Germany-based Proxima Fusion in a $468 million funding round as the startup works
00:09to build Europe's first commercial fusion power plant, according to CNBC. Proxima said the
00:15investment highlights Google's interest in fusion as a long-term source of abundant carbon-free
00:20energy. XTX Ventures and EastX Ventures led the round, with RWE and Google joining as strategic
00:27investors. Proxima is developing Stellarator technology and aims to have a proof-of-concept
00:33fusion demonstrator running in the early 2030s. The company targets a commercial power plant later
00:38that decade. Google has invested in CFS and agreed to buy power from the company once its first
00:44commercial fusion plant begins operating. The tech giant said fusion could become a clean,
00:49abundant, and widely deployable energy source, but warned that commercializing the technology
00:54remains difficult and uncertain. For all things money, visit Benzinga.com.
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