Thea Energy, a Princeton, NJ-based fusion energy company, raised $20M in Series A funding.
The round was led by Prelude Ventures with participation from other investors including 11.2 Capital, Anglo American, Hitachi Ventures, Lowercarbon Capital, Mercator Partners, Orion Industrial Ventures, and Starlight Ventures. Concurrent with the close of the Series A financing, Prelude Ventures managing director Mark Cupta will join Thea Energy’s Board of Directors.
The company intends to use the funds to accelerate next phase of planar coil magnet array manufacturing, integrated stellarator system modeling, and team growth.
Founded in 2022 and led by CEO Brian Berzin, Thea Energy leverages recent breakthroughs in stellarator physics and engineering to create an approach to commercializing fusion energy. It is working on stellarator using computer-controlled arrays of planar coils, thus eliminating the complex modular magnets required in all other proposed stellarator architectures. Thea Energy is building off foundational research and technology development that it spun out of Princeton University and Princeton Plasma Physics Laboratory, where the stellarator was first imagined in 1951.
FinSMEs
08/02/2024