Germany's Marvel Fusion has raised €113 million in its latest funding round, with Siemens Energy and the European Innovation Council Fund among its backers. The Munich-based startup, which partnered with Thales in 2022, aims to develop a prototype nuclear fusion reactor by 2032. The funding highlights the global race to harness nuclear fusion, an industry projected to grow into a $40 trillion market by 2040. Advancements are being made worldwide, including China's HL-3 fusion reactor in Chengdu, which recently achieved an electron temperature of 160 million degrees Celsius and entered the 'burning plasma' phase of research. Other companies, such as Commonwealth Fusion and Type One Energy, are advancing their own fusion technologies, including tokamaks and stellarators, as the push for clean energy solutions accelerates.