Princeton fusion startup Thea Energy raises $100M Series B for tunable magnet manufacturing and demonstration device
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Summary
Thea Energy, a Princeton-based fusion startup, has raised an oversubscribed $100 million Series B round led by the U.S. Innovative Technology Fund, bringing total private investment to $130 million. The funding will support expanded manufacturing of their uniquely designed tunable rectangular magnets and the start of construction on Eos, a power-plant-relevant demonstration device, beginning next year. The company previously completed a $20 million Series A in early 2024. Thea's rectangular magnets can be tuned to form the overall magnetic field, likened to pixels, which is central to their fusion reactor design for confining superheated plasma.
Key quotes
· 3 pulledThea Energy raised an oversubscribed $100 million Series B led by the U.S. Innovative Technology Fund, bringing total private investment to $130 million.
The funding supports expanded manufacturing for smaller, uniquely designed tunable magnets and the start of construction of Eos, a power-plant-relevant demonstration device, beginning next year.
Thea’s rectangular magnets can be tuned to form the overall magnetic field, likened to pixels
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