Fusion Startup Thea Raises $100 Million to Build Prototype

US fusion startup Thea Energy Inc. raised $100 million to develop a demonstration project as surging electricity demand spurs interest in the technology that promises to tap the energy of the stars.

Investors in its second funding round included US Innovative Technology, General Innovation Capital Partners and Prelude Ventures, which led the company’s first major funding round in 2024, according to a statement Wednesday. New Jersey-based Thea was spun out of Princeton Plasma Physics Laboratory in 2022.

Thea plans to begin construction next year on its Eos demonstration system, a nuclear fusion device known as a stellarator that uses powerful ...