Alphabet's (GOOG, GOOGL) Google participated in a 411 million euro ($469 million) funding round for German nuclear fusion startup Proxima Fusion, alongside RWE and other investors, Bloomberg reported Tuesday.

The funding round, led by XTX Ventures and East X Ventures, valued Proxima Fusion at 2.4 billion euros and will help advance the development of a nuclear fusion power plant at a former RWE nuclear site in Bavaria, with operations expected to begin in the 2030s, according to the report.

Proxima Fusion said it has secured more than 650 million euros, including public grants, to advance its stellarator-based fusion technology to meet growing demand for carbon-free power, including from AI data centers, the report said.

Alphabet did not immediately reply to a request for comment from MT Newswires.

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