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Fusion energy developer Gauss Fusion has started meeting with investors about raising $150 million in Series A funding, Axios Pro has learned.

Why it matters: The German startup's new CEO is pursuing a big step-up in funding by folding in American investors. 

Follow the money: Gauss Fusion is currently raising an undisclosed pre-Series A round, two sources tell Axios Pro. It plans to launch the Series A in the months ahead.

It expects to receive additional German government funding, the sources say, which could amount to roughly $100 million.

It previously raised about $18 million since its launch in 2022, per PitchBook, including $9.4 million in 2024 from Germany's Ministry of Education and Research.

The big picture: Gauss Fusion is developing a stellarator fusion system. It's a complicated design that, if successful, can deliver more stable operations compared to more common tokamak fusion reactors. 

Behind the scenes: CEO Uwe Bau, who joined this summer, is expanding the company's presence beyond Germany in "a refresh of the company's strategy," one of the sources says.

"The previous CEO was Europe-first and Europe-only," another source tells Axios Pro. The company now is "open to the U.S. capital market."

State of play: Germany in recent years has emerged as Europe's chief rival to U.S. and Chinese fusion energy development. 

Focused Energy in June announced a $240 million in Series A funding. Proxima Fusion followed with a €411 million raise at a €2.4 billion valuation in July.

Yes, but: German efforts have been hindered by a relative lack of federal coordination, with state governments funding regional rivals, fusion investors have told Axios Pro.

What's next: Gauss Fusion aims to bring an electricity-producing demonstration plant online in the 2030s and commercial plants in the 2040s. 

Scoop: Gauss Fusion is raising $150M as it eyes U.S. expansion

Its new CEO is pivoting from a Europe-only approach.

Animated illustration of the interior of a fusion reactor. A glowing dollar sign is flying in a circular motion through the reactor along rings of plasma.

An illustration of the interior of a fusion reactor. A glowing dollar sign is flying in a circular motion through the reactor along rings of plasma.

Fusion energy developer Gauss Fusion has started meeting with investors about raising $150 million in Series A funding, Axios Pro has learned.Why it matters: The German startup&#x27;s new CEO is pursuing a big step-up in funding by folding in American investors.

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Scoop: Gauss Fusion is raising $150M as it eyes U.S. expansion

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