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Thea Energy expands magnet manufacturing lines with federal $20M award

Source: ROI-NJ · Jul 28, 2026, 8:30 AM

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Thea Energy expands magnet manufacturing lines with federal $20M award news image

Thea Energy Inc. has received a $20 million award from the U.S. Department of Energy's Advanced Research Projects Agency – Energy (ARPA-E) through the SCALEUP program.

The funding will enable the company to scale its manufacturing and testing capabilities for magnet production. This federal investment supports Thea Energy's efforts to advance critical energy technologies and expand its production lines, positioning the company for growth in the clean energy sector.

Key points

  • Thea Energy awarded $20 million from U.S. Department of Energy's ARPA-E
  • Funding supports scaling of magnet manufacturing and test capabilities
  • Award is part of the SCALEUP program for energy technologies with growth potential
  • Investment positions company to advance clean energy manufacturing

FAQ

What is the SCALEUP program?
SCALEUP stands for Sealing Critical Advances for Leading Energy technologies with Untapped Potential. It is a U.S. Department of Energy program designed to provide funding to promising energy companies to help them scale their manufacturing and testing capabilities.
What will Thea Energy use the $20 million for?
Thea Energy will use the federal award to expand and scale its magnet manufacturing lines and test capabilities, enabling the company to increase production and advance its energy technology operations.
Why is this significant for New Jersey?
This award demonstrates federal investment in New Jersey-based clean energy companies and supports advanced manufacturing growth in the state's emerging energy sector.

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