FEI Monthly Roundup - February 2026
FEI Monthly Roundup - February 2026
Mar 10, 2026
Welcome to our round-up of what’s been happening in fusion and within Fusion Energy Insights over the past month.
3 Top Fusion News Stories
Proxima Fusion, RWE, Bavaria, IPP sign agreement for world's first commercial fusion power plant in Europe
Proxima Fusion has signed a memorandum of understanding (MoU) with RWE, the Free State of Bavaria and the Max Planck Institute for Plasma Physics on a path to building the first stellarator fusion power plant in Europe, Stellaris. Bavaria has committed €400mn, though another €1.2bn will be required.
This agreement signals a credible commercial pathway for fusion in Europe, combining a private developer, a major utility (RWE), regional government funding and a leading research institute. It embeds fusion within Europe's existing energy infrastructure, notably through the planned reuse of a former fission site, and demonstrates serious public financial backing.
World-first plasma confinement via levitated magnet achieved by OpenStar
New Zealand-based company OpenStar Technologies announced that they have successfully fully levitated a 0.5-tonne superconducting magnet inside their 5-metre vacuum chamber while confining plasma at over 1,000,000°C. The <US$10m prototype called "Junior" demonstrated stable operation of a levitated dipole configuration, where a single magnet levitates inside the plasma. This is similar to the magnetic field placement on the planet Jupiter, and can reduce heat loss and increase plasma stability compared to more traditional designs. Previous tests relied on mechanical supports, which can act as pathways for heat loss. The company says integrating a functional levitation system validates the technical pathway towards larger, commercial-scale fusion machines.
Inertia announces $450 million milestone-based Series A fundraise
Inertia Enterprises announced a $450 million Series A round led by Bessemer Venture Partners, with participation from Google Ventures, Modern Capital and Threshold Ventures. Founded in 2024, the company plans to build a fusion pilot plant based on physics proven at the National Ignition Facility (NIF). The funding is milestone-based and it will advance development of "Thunderwall", described as the world's most powerful laser, and a production line to mass manufacture fuel targets.
FEI Premium subscribers can read our insights on all these stories in our FEI Premium space on our Circle community platform, along with all back-issues of our weekly newsletters. Sign up to our newsletter for free to get them for yourself week to week.
Progress to Q>1: Evidence, Claims and Credibility
This was our industry analysis “Graph of the Month” piece this time.
Every month, our industry experts at Fusion Advisory Services pick an interesting graph from the work that has been going on at FAS—something that gives some insight into significant trends, commercialisation considerations or fusion industry development.
This month, we analysed where fusion companies sit on the path to QSci>1 (scientific breakeven), and asked a deceptively simple question: who is publishing along the way and what does that tell us about progress, risk and trust?
This analysis is important because the data suggests that publication strategy is not a side issue in fusion development, but a meaningful indicator of how programmes are being de-risked technically, financially and institutionally.
FEI Premium subscribers can read the full article.
Past Online Events
4th February 2025: Spark Session featuring Scott Hsu, Fusion Partner at Lowercarbon Capital
Spark Sessions are informal conversations with fusion industry leaders to provide an informative and inspiring perspective. We hold 3-4 spark sessions throughout the year with selected speakers.
4th March 2026: Legal and Policy Briefing with Sidney Fowler, Partner at Pillsbury Winthrop Shaw Pittmann on our Circle platform. The session will provide updates on recent legal, policy and regulation activities in fusion.
Looking Forward
16th March 2026: Melanie Windridge, Fusion Energy Insights founder will be speaking on a panel at SXSW in Austin, Texas. The panel is titled The Great Fusion Debate: How Far Away Are We Really?
23rd March 2026: Melanie will also be speaking at CERAWeek in Houson, Texas in a session titled Fusion Energy Insights | From Billion-dollar Bets to Trillion-dollar Outcomes: The economics of fusion energy
We will also be publishing the Fusion Energy Insights Quarterly March issue, where FEI Premium subscribers can access in the Circle space, under Reports & Updates.