New Jersey-based Thea Energy, one of several U.S. companies working to commercialize fusion energy, said the company has raised $100 million in Series B funding. Thea is advancing stellarator technology to provide baseload fusion power. The company, which has several investors, is moving toward beginning construction of its Helios power plant (Figure 1) by the end of the decade. A spokesperson for Thea in an email to POWER on May 27 wrote that the company’s goal is to “deliver cost-competitive, scalable fusion power plants with lower-risk and higher uptime—enabled by its simplified magnet technology. Compared to prior generations of the stellarator, Thea Energy’s tech uses flat, AI-enabled superconducting magnets. This makes the company’s system simpler to manufacture, faster to construct, and more tolerant.” The spokesperson said the additional funding will help Thea Energy expand its manufacturing infrastructure for its magnets, including the addition of a second facility in New Jersey. The group is progressing toward siting and construction of Eos, the company’s first large-scale integrated stellarator. The spokesperson told POWER that Thea is preparing to select a location later this year, and also expects to double its team. The spokesperson said the company also is setting discussions with more than a dozen power offtakers, hyperscalers, and utility partners. [evtx_block slug=”ep-2026-textblock”] Thea Energy was part of an extensive review of companies working on fusion technology that were featured in a special report from POWER in February of this year. The U.S. Dept. of Energy (DOE) earlier this year certified Thea Energy’s power plant preconceptual design, making the company the first to receive this distinction as part of the DOE’s Milestone-Based Fusion Development Program. Brian Berzin, the company’s co-founder and CEO, at the time said, “This final design milestone, now certified by the DOE, substantiates the validity of the planar coil stellarator and shows a clear pathway to a deployable power plant.” Berzin was the subject of a POWER Interview earlier this year. Thea Energy earlier this month recently announced de-risking of its core fusion technologies, including the magnets for its Eos system.
1. This is a rendering of Thea Energy’s Helios power plant. The plant’s preconceptual design was certified by the U.S. Dept. of Energy in early 2026. Courtesy: Thea Energy
