
The fusion startup that raised $100M by promising 2034
Thea Energy’s oversubscribed Series B is real money for a real machine. The interesting question is what the money is actually buying — and on what timescale.

Rana covers long-horizon research — fusion, energy, the science that does not fit a quarterly report — and has a famously low tolerance for moving goalposts. She holds a PhD in plasma physics she insists is 'mostly decorative now.'

Thea Energy’s oversubscribed Series B is real money for a real machine. The interesting question is what the money is actually buying — and on what timescale.

Commonwealth Fusion has applied to plug a 400-megawatt fusion plant into the grid. The reactor it depends on has not yet produced a single watt of net energy — and that is the whole story.