Participated · Series B · May 2026

Thea Energy builds pixel-inspired rectangular magnets and software to generate and fine-tune stellarator magnetic fields, using many smaller planar coils to shape plasma confinement. The company says its approach lets software control arrays of regular magnets to create complex stellarator fields, and it has built dozens of full-scale magnet iterations in its Jersey City lab. Thea originally spun out of the Princeton Plasma Physics Laboratory and has iterated its design to include a set of larger magnets alongside more than 300 smaller coils that fine-tune the plasma. With $130 million in total private funding after the new Series B, Thea is scaling magnet manufacturing and plans to begin construction of its Eos demonstration reactor next year. The company aims to complete Eos by 2030 and bring a commercial device, Helios, online in 2034.

Participated · Series B · Aug 2025

Commonwealth Fusion Systems is developing SPARC, a fusion demonstration machine designed to generate net energy, and ARC, a planned grid-scale fusion power plant to be built at the Fall Line Fusion Power Station in Chesterfield County, Virginia. The company has raised $4 billion since its founding in 2018 and says the financing will accelerate commercialization and complete SPARC assembly. CFS has strategic partnerships with Dominion Energy and counts Google and Eni among its investors, with the latter two also signing power purchase agreements to buy more than half of ARC’s projected output. The company has submitted an application to PJM Interconnection and is targeting early-2030s grid delivery. CFS emphasizes its execution track record, peer-reviewed science, and the assembly progress of SPARC as evidence attracting institutional capital.

Participated · Series A · Dec 2024

Electrified Thermal Solutions develops the Joule Hive Thermal Battery (JHTB), an MIT-developed system that uses electrically and thermally conductive patented bricks to generate, store, and deliver near-flame temperatures up to 1,800°C. The JHTB is positioned to electrify industrial heat by leveraging renewable electricity to replace fossil-fuel combustion in boilers, dryers, and furnaces. The company emphasizes integration with existing infrastructure and targets sectors including cement, mining, metals, chemicals, power, and food processing. Electrified Thermal says industrial heat processes account for over 20% of global greenhouse gas emissions, making its zero‑carbon heat approach relevant to hard‑to‑abate industries. The company plans a commercial demonstration in 2025, aims to commercialize the JHTB by 2026, and targets deploying 2 GW of thermal power capacity by 2030. It raised $19 million in venture financing to accelerate its commercial demonstration, scale manufacturing, and expand its industrial customer base. Electrified Thermal Solutions builds the Joule Hive — a thermal battery made from electrically conductive 'e-bricks' doped with semiconductor materials. The bricks are heated by running electricity through them like a toaster, can store heat for hours or days, and ETS says over 95% of input electricity can be recovered as heat. A stack can reach temperatures nearing 2,000°C, enabling use in steel, glass, cement and chemical plants, as well as steam generation or power turbines. ETS says its heat is at least three times cheaper than hydrogen and can be competitive with natural gas in regions with low electricity prices or when a $50/metric-ton carbon price is applied. The company has worked with a brick maker to adapt recipes for industrial-scale equipment, is operating a pilot system about the size of an elevator, and is designing a shipping-container-scale commercial unit. ETS plans to sell either heat from the batteries or the complete system; the technology stems from about a decade of work beginning with CEO Dan Stack's graduate research at MIT. Financially, ETS has raised $4.75 million to date, including a $4.5 million seed round led by Clean Energy Ventures.

Participated · Series A · Oct 2024

Blue Energy develops financeable, turnkey nuclear power plants built with offsite prefabrication and standardized delivery compatible with leading reactor technologies. The company plans to compress construction timelines to as little as 48 months and deliver plants designed to be project‑financeable. Blue Energy expects to begin construction on its first Texas project in Q3 2026, a plant designed to provide up to 1.5 GW of power. The U.S. Nuclear Regulatory Commission recently approved its phased construction approach that initially energizes turbines with natural gas before conversion to nuclear. Founded in 2023 and based in Chevy Chase, Md., Blue Energy is backed by VXI Capital, Engine Ventures, At One Ventures, and Tamarack Global and recently raised $380 million to fund long‑lead equipment procurement, project development, and corporate growth.

Led · Seed · Sep 2024

Ephos develops glass-based quantum photonic circuits and intends to manufacture chips that process light to reduce photon coupling losses compared with silicon-based approaches. The company says its facility will be the world’s first dedicated to producing glass-based quantum photonic circuits and has opened an R&D and manufacturing site near Milan. Ephos raised $8.5 million in seed funding to build out and operate the Milan facility and some funding was raised earlier in the year to help open the lab. The first chips have yet to be made but are expected in the coming weeks, and Ephos expects the fabrication facility to be fully operational by the end of the year. Early commercial interest has come from quantum computing startups, hyperscalers, and data-center builders. The company was founded in 2022 by Andrea Rocchetto alongside Francesco Ceccarelli, Giacomo Corrielli, and Roberto Osellame.