The Pegasus Toroidal Experiment was developed to explore the physics limits of plasma operation as the aspect ratio (A) approaches unity. Initial experiments on the device found that access to high normalized current and toroidal beta was limited by the presence of large-scale tearing modes. Major upgrades have been conducted of the facility to provide the control tools necessary to mitigate these resistive modes. The upgrades include new programmable power supplies, new poloidal field coils and increased, time-variable toroidal field. First ohmic operations with the upgraded system demonstrated position and current ramp-rate control, as well as improvement in ohmic flux consumption from 2.9 MA Wb −1 to 4.2 MA Wb −1 . The upgraded experiment will be used to address three areas of physics interest. First, the kink and ballooning stability boundaries at low A and high normalized current will be investigated. Second, clean, high-current plasma sources will be studied as a helicity injection tool. Experiments with two such sources have produced toroidal currents three times greater than predicted by geometric field line following. Finally, the use of electron Bernstein waves to heat and drive current locally will be studied at the 1 MW level; initial modelling indicates that these experiments are feasible at a frequency of 2.45 GHz.