Marvel Fusion GmbH, a German startup working on nuclear fusion, is exploring new uses for its laser technology including defense, medical and industrial applications as its attempts to commercialize the novel energy technology drag out, people familiar with the matter said.
Executives are holding meetings with investors about plans to bring to market the lasers it created to harness nuclear fusion, the people said, asking not to be identified because the plans are private. The company is also weighing a relocation to the US to improve its access to capital, the people said. The plans aren't final and Marvel may decide to stay in Germany, they added.
"While fusion energy remains our primary focus, we are exploring how our advanced laser technology can create value across multiple sectors," which supports the long-term goal of commercializing fusion energy, a spokeswoman for the company said in an email, declining to comment on specific use cases. She also didn't comment on a potential headquarters move to the US from Germany beyond saying the company has benefited from having operations in both countries.
Companies are racing to harness nuclear fusion -- the process that powers the Sun -- using lasers and magnets to facilitate reactions that generate clean energy. Fusion could theoretically be used to meet the surging demand for new sources of power from artificial intelligence and to diversify away from fossil fuels. But startups in the field face a number of engineering and economic challenges that have prevented fusion from being widely deployed outside of the lab.
Marvel Fusion has said it aims to commercialize nuclear fusion by the mid 2030s. It's raised $400 million from public and private sources, includingBloomberg Terminal Siemens Energy and EQT. The company is valued at about €1 billion ($1.2 billion), a person familiar with the matter said.
In 2023, the company partneredBloomberg Terminal with Colorado State University to construct a $150 million facility for research into laser fusion energy. (At the time, Marvel Fusion denied it was planning a move to the US.) The operations, due to begin this year, have been delayed to early 2027, one of the people said. Marvel Fusion is also weighing building a prototype factory in Denver, another person said.
The spokeswoman confirmed construction on the research facility is set to complete at the end of 2026, though some lasers would still need to be installed next year when operations are due to start.
Marvel Fusion signaled a broader US push after securing a Department of Energy grant in September. Its current structure -- with headquarters in Germany and a Colorado subsidiary -- allows it to tap Germany's engineering base while working with Colorado State University on its technology, the spokeswoman said.
Even as Marvel Fusion looks for new revenue streams, the company will continue to pursue laser-based fusion, the people said. Some investors remain skeptical that the company can meet its ambitious timelines given the technical complexity.
Creating products that could be used by other industries may be a way to continue funding the research and improve Marvel Fusion's viability. Selling lasers that can help disable drones, for example, would give the company access to a rapidly expanding pool of defense spending.
"Building the world's first commercial fusion power plant is one of the most complex engineering challenges ever undertaken,"the spokeswoman said.
"The milestones we have reached and the physics we have demonstrated to date give us strong confidence in our ability to meet our targeted timelines."