Marvel Fusion的激光赌注：1.13亿欧元融资，在科罗拉多州立大学建设首座ATLAS聚变设施

做的是什么生意

Marvel Fusion designs laser-driven inertial fusion power plants — high-energy lasers fire at a fuel target — and is industrializing the lasers themselves.

启动资金：EUR 113M Series B (extended March 2025); total funding EUR 385M — EUR 170M private, EUR 215M in public cooperation projects; company later cited USD 400M+

起因

Founded in Munich in 2019 by Moritz von der Linden, Marvel Fusion bet that high-repetition, high-energy lasers could make inertial fusion commercially viable, building on the target-energy-gain result demonstrated at the National Ignition Facility in 2022. It raised venture rounds from European investors and steadily added industrial partners.

经过

In March 2025 the company extended its Series B by €50M to €113M with EQT Ventures, Siemens Energy Ventures and the EIC Fund, bringing total funding to EUR 385M (EUR 170M private, EUR 215M in public cooperation projects) — the most of any European fusion company. Construction of the ATLAS laser facility with Colorado State University began in Fort Collins; CSU topped out the 77,626-square-foot building in April 2026, on track for substantial completion in December 2026. Siemens Energy is co-designing the fusion power-plant concept.

结果

Still privately held and scaling: ATLAS is the first large laser-fusion facility built under a commercial university partnership, slated for completion in December 2026, while the company builds two laser prototypes and industrial partnerships for scaled laser production.

可借鉴之处

初创公司可以通过硬基础设施获得信誉：将股权融资与大学旗舰设施绑定，将激光聚变理论转化为有完工日期的建设项目。