Thea Energy has closed a $100M Series B led by U.S. Innovative Technology Fund, bringing total private investment to $130M. The Princeton spinout is developing a stellarator fusion reactor using a novel 'pixel-inspired' planar coil magnet design, where hundreds of smaller, software-tunable rectangular magnets collectively shape the magnetic field — simplifying manufacturing compared to traditional stellarator designs. The funding will support expansion of magnet manufacturing and construction of its Eos demonstration device starting in 2027, with a commercial Helios reactor targeted for 2034. However, the design has evolved to rely on 12 larger external magnets for primary plasma confinement, with the planar coils now serving a fine-tuning role, partially reducing the original manufacturing advantage.
