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Thea Energy

Founded 2022 · 113 employees on LinkedIn · 10 known investors

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Thea Energy develops fusion energy systems based on a stellarator architecture that replaces complex 3D magnet coils with arrays of mass-manufacturable planar magnets controlled by software. Its first system, Eos, is a neutron source stellarator intended to demonstrate fusion performance and de-risk its planned fusion power plant, Helios.

CleantechDeep TechEnergy

Founders & leadership

Thea Energy was founded in 2022 by Matt Miller.

MMMatt Miller
Matt Millerco-founder and chairman2023–2026Matt Miller is the founder of Thea Energy, a fusion energy company developing a software-controlled stellarator built from arrays of mass-manufacturable planar magnets. He has a background in the communications, semiconductor, and nanotechnology sectors, contributed to the development and standardization of digital TV, HDTV, and broadband cable, and has worked as a venture capital consultant and served on public and private company boards.

Investors · 10

Beyond Earth Ventureslisted by Beyond Earth VenturesWilmington · $500K – $2M

How we know: Beyond Earth Ventures's portfolio page · funding news · the VCSheet dataset · Not right? Tell us

Divergent Capitallisted by Divergent CapitalNew York · $250K – $1M

How we know: Divergent Capital's portfolio page · Not right? Tell us

Emerald Technology Ventures Aglisted by Emerald Technology Ventures AgZurich · $540K – $5.4M

How we know: Emerald Technology Ventures Ag's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us

Hitachi Ventureslisted by Hitachi VenturesMunich

How we know: Hitachi Ventures's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us

Linse Capitallisted by Linse CapitalSan Juan

How we know: funding news · Not right? Tell us

Lowercarbon Capitallisted by Lowercarbon CapitalLos Angeles · $100K – $5M

How we know: Lowercarbon Capital's portfolio page · Not right? Tell us

Prelude Ventureslisted by Prelude VenturesSan Francisco · $100K – $5M

How we know: Prelude Ventures's portfolio page · Not right? Tell us

VoLo Earth Ventureslisted by VoLo Earth VenturesSnowmass Village · $2M
Starlight VenturesreportedMiami · $100K – $3M

How we know: the VCSheet dataset · Not right? Tell us

Funding

SEC filings, press & company announcements

$200M disclosed across 2 of 3 rounds · 2026

Source: company announcements and press reports — follow each round's link for the claim.

Related companies · 8

Tri Alpha EnergyTAE Technologies develops hydrogen-boron (aneutronic) fusion power using a beam-driven Field-Reversed Configuration reactor design, aiming to deliver utility-scale fusion electricity to the grid in the early 2030s. Through its subsidiaries, the company also works on grid energy storage solutions and cancer treatment technologies.
FFuse Energy develops fusion energy technology, with work spanning hardened electronics and radiation testing (HEART) and recycling of radioactive waste, aiming to provide an on-demand clean energy source. It brings together a team across engineering, fusion science, energy policy, and manufacturing.
Helion EnergyHelion develops fusion energy systems designed to generate clean electricity for commercial use. The company builds pulsed magnetic fusion prototypes with applications for industrial and commercial electricity generation.
Pacific FusionPacific Fusion is developing a high-gain pulsed magnetic inertial fusion system designed to achieve net facility gain, using a modular fast electric pulser, a meter-scale fusion chamber, and small fuel containers. The company aims to produce affordable, on-demand fusion power to meet global energy demand and address climate change.
General FusionGeneral Fusion develops Magnetized Target Fusion (MTF) technology, combining plasma physics, mechanical compression, and liquid metal systems to build a practical, cost-competitive fusion power plant. The company operates large-scale demonstration machines, including LM26 at its Vancouver facility, on a roadmap toward a first fusion plant producing energy in the mid-2030s.
Commonwealth Fusion SystemsCommonwealth Fusion Systems develops commercial fusion power plants using high-temperature superconducting magnet technology to provide grid-scale energy.
Avalanche EnergyAvalanche Energy develops compact fusion technology to generate high-energy neutrons for materials testing, radioisotope production, and advanced nuclear battery systems serving defense, space, and commercial power applications. The company also provides high-voltage vacuum components and operates FusionWERX, a commercial-scale fusion testing facility.
Type One EnergyType One Energy is a fusion energy startup founded by stellarator experts to design and commercialize a next-generation stellarator fusion power plant. The company develops fusion power plant technology and is working toward the first commercial fusion energy plant.

Companies working in the same space as Thea Energy.

In the news

Thea Energy lands $20M federal grant to build its magnets for fusion reactors | TechCrunchtechcrunch.com · Jul 2026Thea Energy Raises $100M in Series B Fundingfinsmes.com · May 2026Thea Energy Raises $100 Million Series B Funding to Build Scalable Fusion Power Plantsglobenewswire.com · May 2026With a new $100M raise, Princeton's Thea Energy is now a top-funded fusion startup | TechCrunchtechcrunch.com · May 2026Thea Energy Raises $100 Million Series B Funding to Build Scalable Fusion Power Plants - Thea Energythea.energy · May 2026

Frequently asked questions

What does Thea Energy do?
Thea Energy develops fusion energy systems based on a stellarator architecture that replaces complex 3D magnet coils with arrays of mass-manufacturable planar magnets controlled by software. Its first system, Eos, is a neutron source stellarator intended to demonstrate fusion performance and de-risk its planned fusion power plant, Helios.
Who founded Thea Energy?
Thea Energy was founded by Matt Miller in 2022.
Who are Thea Energy's investors?
Thea Energy's investors include Alumni Ventures, Beyond Earth Ventures, Divergent Capital, Emerald Technology Ventures Ag, Hitachi Ventures, Linse Capital, Lowercarbon Capital, Prelude Ventures and 2 more.
How much funding has Thea Energy raised?
Thea Energy has disclosed $200M raised across 2 of its 3 known rounds.