Thea Energy

Overview
Alternative Energy?
Product stageSegments

Thea Energy is a spin-off of Princeton University’s plasma physics lab and develops stellarator technology-based fusion power plants.

The company’s Eos system, a neutron source stellarator, is claimed to be the only first-generation fusion system power plant prototype. Eos uses an array of computer-controlled high-temperature superconductor (HTS) planar coils, allowing for dynamic field control and simplified maintenance and operations.

Thea Energy aims to scale up Eos and launch the Helios Power Plant by 2030 to begin on-the-grid operations.

Key customers and partnerships

In July 2023, Thea Energy partnered with the University of California San Diego to develop a boron-based renewable first wall capable of sufficient heat removal and tritium recovery from stellarator fusion devices.

Funding and financials

In February 2024, Thea Energy raised USD 20 million in a Series A funding round led by Prelude Ventures. The company intended to use funds to construct and operate the company's superconducting planar coil magnet array systems. Prior to this, in May 2023, Thea Energy was selected as an awardee of the USD 46 million milestone-based fusion development program. Split among seven companies, this funding covers the first 18 months of a project with future funding contingent on congressional approval and achievement of milestones.

HQ location:
92 Nassau Street Princeton NJ USA
Founded year:
2022
Employees:
11-50
IPO status:
Private
Total funding:
USD 20.0 mn
Last Funding:
USD 20.0 mn (Series A; Feb 2024)
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