Thea Energy raises $20m to advance fusion technology

Proceeds from the financing will support the construction and operation of the company’s proprietary superconducting planar coil magnet array systems, the design and simulation of Eos, Thea Energy’s large-scale integrated neutron source stellarator system, and continued team growth.

In a statement, said Brian Berzin, co-founder and CEO of Princeton, New Jersey headquartered Thea Energy said: “We will continue to advance our fusion technology to address the growing energy demands of humanity by providing a clean, safe, and abundant source of fusion power.

“Company progress on core intellectual property, magnet systems, and the Eos stellarator has proven the determination and know-how of our team. In our next phase, we will be constructing our planar coil magnet systems at scale while further expanding our team of fusion and commercialisation experts.”

Concurrent with the close of the Series A financing, Prelude Ventures managing director Mark Cupta will join Thea Energy’s board of directors.