Fusion Startup Thea Energy Secures $100M Series B for Stellarator Magnet Manufacturing
By
Katie Brigham
The kind of bagel that ruins lesser bagels for you.
Summary
Fusion energy startup Thea Energy has raised a $100 million Series B funding round to expand its magnet manufacturing capabilities for stellarator fusion reactors. The deal is part of a broader nuclear energy investment trend, though it appears modest compared to other recent nuclear sector deals like Inertia Enterprises' $450 million Series A and Shine Technologies' $240 million round. Additionally, small modular reactor startup Newcleo plans to go public via SPAC later this year.
Key quotes
· 3 pulledNuclear is once again a dominant theme this week, with fusion startup Thea Energy landing a $100 million Series B that will help it expand its magnet manufacturing capabilities.
While $100 million is nothing to scoff at, it somehow sounds modest alongside some of this year's other deals, which include a $450 million Series A for Inertia Enterprises and $240 million for Shine Technologies.
This week also brought the news that small modular reactor startup Newcleo plans to go public via SPAC later this year, bringing to mind the exuberance of the 2021 SPAC boom.
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