Thea Energy Raises $100 Million Series B Funding to Build Scalable Fusion Power Plants

The oversubscribed raise, led by USIT with participation from General Innovation Capital Partners and Linse Capital, marks the first in a series of milestones as Thea Energy solidifies its position as the preeminent stellarator company and leader in commercial fusion energy

KEARNY, N.J., May 27, 2026 (GLOBE NEWSWIRE) -- Thea Energy, Inc., a technology company advancing the stellarator for the commercialization of an abundant source of baseload fusion power, today announced it has raised $100 million in Series B funding that draws support from Thomas Tull’s US Innovative Technology Fund (USIT), General Innovation Capital Partners (GICP), Linse Capital, Calm Ventures, Climate Capital, Divergent Capital, Emerald Technology Ventures, Gaingels, Idemitsu Kosan, Overlay Capital, Timescale Ventures, and Whatif Ventures. The funding will expand the Company’s magnet manufacturing capacity, fast-track the construction of its integrated fusion system, and ultimately accelerate progress toward commercial deployment.

This oversubscribed investment round underscores the growing demand for baseload power and confidence in Thea Energy’s ability to deliver cost-competitive, scalable fusion power plants with lower-risk. Existing investors Alumni Ventures, Hitachi Ventures, Lowercarbon Capital, Mercator Partners, Orion Industrial Ventures, Prelude Ventures, and Starlight Ventures also participated, among others.

“We built Thea Energy to take fusion out of the lab and onto the grid. Our architecture is simpler to manufacture, faster to construct, and more tolerant of real-world conditions compared to all other approaches. Commercial fusion requires adaptable, high-uptime power plants; this Series B accelerates that reality,” said Brian Berzin, Co-Founder and Chief Executive Officer of Thea Energy. “With the U.S. Department of Energy (DOE)’s certification of our power plant preconceptual design milestone, proven magnet hardware, best-in-class team, and the capital now in place, we are on the path to delivering the first commercial stellarator power plants.”

This funding will expand the company’s magnet manufacturing infrastructure, including the addition of a second facility in Northern New Jersey. The capital will also support the siting and construction of “Eos”, a large-scale integrated stellarator that will create power plant relevant, steady-state fusion enabled by Thea Energy’s simplified architecture as well as its ability to build fusion systems on shorter timescales and at lower costs. The Company is set to select a site for Eos later this year while also doubling its team to support this pivotal phase. 

“Thomas Tull has been clear about why he wanted USIT to lead this round: he believes the stellarator is the right architecture for commercial fusion, and Thea Energy is the company that makes it commercially viable,” said Gaetano Crupi, Managing Director at USIT. “The stellarator is an inherently stable fusion architecture that offers the most efficient path to long-term power generation, but prior 3D stellarator magnets historically made the system impractical to build. Thea Energy’s breakthroughs shift complexity from precision mechanical fabrication to software-defined controls. As energy security and rapidly increasing power demands take center stage amidst re-industrialization and the AI boom, the U.S. cannot cede leadership in fusion. Thomas believes this team and their software-based technology are a winning combination.”

Backed by a diverse syndicate of investors spanning venture capital, established technology and industrial leaders, as well as financial institutions focused on supporting industry-defining technologies across their full lifecycle, Thea Energy is progressing toward starting construction of the first “Helios” power plant before the end of the decade. As demand for baseload power accelerates and competition for fusion leadership intensifies globally, Thea Energy is positioning the U.S. at the forefront of the next generation of energy infrastructure. The Company is already in discussions with over a dozen power offtakers, hyperscalers, and utility partners interested in tapping into this scalable, high-availability source of fusion power.

This funding round follows the DOE’s certification of Thea Energy’s Helios preconceptual design milestone, making the company the first awardee to receive this distinction. Over the past year and a half, the Thea Energy team:

• De-risked its core fusion technologies, including the full-scale planar shaping magnets utilized in the upcoming Eos system.
• Built and operated the world’s first superconducting magnet array capable of making the complex and precise magnetic fields required for commercial stellarator systems.
• Assembled an industry leading team of engineers, scientists, and operators capable of building and scaling fusion power plants across the world, on time and on budget.
  
  

About Thea Energy, Inc.
Thea Energy, Inc. is commercializing scalable and economical fusion energy systems via its planar coil stellarator architecture. Thea Energy’s stellarator power plants will uniquely provide an abundant and safe source of zero-emission energy for the future of humanity. The Company has utilized arrays of mass-manufacturable magnets and dynamic software controls to reinvent the stellarator.

Thea Energy spun out of Princeton University and Princeton Plasma Physics Laboratory in 2022 to commercialize the stellarator, a mature magnetic confinement fusion architecture. The Company was selected as an inaugural awardee of the U.S. Department of Energy’s Milestone-Based Fusion Development Program following a detailed merit review process, and is also supported via six Department of Energy INFUSE awards. Thea Energy is currently collaborating with leading national labs, academic institutions, and industrial partners to commercialize fusion energy on the fastest and most efficient path.

To learn more about Thea Energy’s mission, visit thea.energy and follow us on LinkedIn and X .

Contact
Madeline Joanis
maddy@thea.energy

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.