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Thea Energy lands $20M federal grant to build its magnets for fusion reactors
For hard-tech startups, manufacturing is a pricey endeavor. Now, Thea Energy has a leg up courtesy of a Department of Energy grant.
The fusion power startup told TechCrunch Monday that it has received a $20 million award from ARPA-E to help manufacture its modular high-temperature superconducting (HTS) magnets.
HTS magnets are costly but important components in any magnetic confinement reactor, one of the two main ways startups are attempting to harness fusion power for commercial purposes. In magnetic confinement reactors, powerful magnetic fields contain and compress plasma, helping to heat the particles until the fuel can fuse and release large amounts of energy.
Thea’s reactor is based on a design known as a stellarator. Stellarators look like inner tubes that have been twisted and squeezed in ways that help it confine the plasma more effectively. Most stellarators use magnets that are built to mimic those twists and turns, which makes them expensive to manufacture.
To minimize manufacturing costs, Thea uses fewer variants. The 12 large magnets that do the heavy lifting are made from four different templates, and the more than 300 smaller magnets used to fine tune the plasma are all identical. They’re arrayed around the periphery of the reactor, similar to how pixels are distributed across a computer display.
The small magnets are controlled by software, an arrangement should allow for more forgiving construction tolerances, which could lower costs, Thea says.
Thea is among the top funded fusion power startups, having raised $100 million in May on top of a $20 million Series A it raised in 2024. Like many of its peers, Thea has plans to build a commercial scale fusion power plant in the mid-2040s.
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Chaos in the Ring: Women Celebrities to Headline October Edition as Balmoral Boss Speaks on Portable-Okocha Episode
The October edition of Chaos in the Ring is set to take a new dimension, with Balmoral International Group boss, Ezekiel Adamu, revealing that women celebrities are being lined up to headline the next edition of the fast-growing boxing entertainment series.
Adamu, who spoke exclusively with Sports247, said preparations are already at an advanced stage, promising fans another memorable night when the event returns in October.
“We are looking at getting women celebrities and we are almost done. The October edition of Chaos in the Ring will be the biggest yet. I won’t let the cat out of the bag yet, but you can be rest assured that the fans will have another memorable moment as our matchmakers are working on some huge fights,” Adamu said.
The Balmoral boss also explained the broader vision behind the event, stressing that Chaos in the Ring is designed to use boxing and entertainment as tools for youth engagement, tourism and national development.
According to him, sport has the unique ability to bring people together regardless of religion, politics or social background.
“Sports unite everyone. We don’t care about religion, political power or anything. We just dive into it. That’s what we are using sport as a tool for tourism and youth education,” he said.
Adamu also highlighted Balmoral’s ambition to build stronger international relationships and create opportunities for Nigerian fighters to compete on bigger stages.
He disclosed that the organisation has continued to strengthen its relationship with international promoters, with the long-term objective of having Nigerian boxers feature on major international cards.
“Bit by bit, brick by brick, we are getting there. We should be having a lot more world champions here in Nigeria, built in Nigeria and belonging to Nigeria,” he said.
On the controversial episode involving Portable and Okocha, Adamu admitted that the incident provided a major learning experience for the organisers.
He insisted that boxing events must protect the integrity of the sport and ensure that fighters honour their commitments once agreements are reached.
“I think we learned a lesson recently with the fight involving Portable and Okocha. It was a huge lesson. I don’t think we will be having that kind of fight where a fighter will just walk out of the ring without having to pay for it, the contracts all be tightened to prevent boxers walking away from fight without consequences”, Adamu stated.
He added that future editions would place greater emphasis on ensuring that fighters, spectators and other stakeholders have a professional experience.
Adamu also clarified Balmoral’s role as a promoter, stressing that the company does not manage the careers of the fighters it promotes.
He explained that managers are responsible for the long-term careers, training, welfare and financial interests of boxers, while Balmoral focuses on promotion and event creation.
“I always tell people, ‘know thyself.’ I know myself. I’m not a manager; I’m a creator,” Adamu said.
With the October edition already taking shape, expectations are high that Chaos in the Ring will continue to blend boxing, celebrity entertainment and sports promotion into one of Nigeria’s emerging combat-sports attractions.
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