Thea Energy Raises $100M Series B to Build Fusion Power Plants
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Thea Energy has raised $100 million in a Series B round backed by Thomas Tull’s US Innovative Technology Fund, General Innovation Capital Partners, Linse Capital, Calm Ventures, Climate Capital, Divergent Capital, Emerald Technology Ventures, Gaingels, Idemitsu Kosan, Overlay Capital, Timescale Ventures, and Whatif Ventures. The announcement came on May 27, 2026.
The company commercializes scalable fusion energy systems through its planar coil stellarator architecture. It spun out of Princeton University and the Princeton Plasma Physics Laboratory in 2022.
The funding will expand the company’s magnet manufacturing capacity, speed up construction of its integrated fusion system, and push progress toward commercial deployment. That work includes adding a second magnet manufacturing facility in Northern New Jersey.
The round follows the Department of Energy’s certification of Thea Energy’s Helios preconceptual design milestone, which made the company the first awardee to receive that distinction. Thea previously closed a $20 million Series A in early 2024, bringing total private investment to $130 million.
The raise places the company among the better-funded fusion startups, improving its odds of reaching a commercial reactor.