What the press is saying.
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California-based TAE Technologies said on 8 April that it had raised an additional $280 million for its reactor-scale demonstration fusion facility to support the final step toward its commercialisation. The private fusion energy company announced a technology milestone by producing stable plasma at more than 50 million degrees Celsius in a proprietary compact reactor design that can scale to competitive fusion-generated power. “This milestone furthers confidence in TAE’s path to commercialisation,” the company said noting that the additional funding brings the total raised to more than $880 million “from some of the world’s most sophisticated investors”.
TAE Technologies, the Foothill Ranch, California-based company that metamorphosizes technologies to develop power from nuclear fusion, backed by Alphabet’s Google LLC., said later this week that the 23-year old privately-held company had raised a stark upsum of $280 million from existing alongside new investors including Google and New Enterprise Associate in a latest fundraising campaign.
TAE Technologies, the world’s largest private fusion energy company, has announced a landmark fusion technology milestone by producing stable plasma at 50M+ degrees Celsius in a proprietary compact reactor design that can scale to competitive fusion-generated power. This milestone furthers confidence in TAE’s path to commercialization and has aided the company in raising $280M in additional funding. When combined with prior rounds, TAE has now raised over $880M from some of the world’s most sophisticated investors.
The goal of economic power generation from fusion has been elusive, but that hasn’t deterred researchers from exploring ways to develop the technology in a way that would support commercial electricity production.
POWER magazine has covered the evolution of fusion research and development for many years, and nuclear experts now think we could be just years—not decades—away from commercial applications.
Michl Binderbauer, CEO of the privately funded alternative fusion developer TAE Technologies, applauds the report’s emphasis on public–private partnerships. “You are combining the strength of a DOE lab or university program with the end-product focus of the private sector,” he says, rather than the “more meandering” academic process. “A tighter adherence to schedules will help to drive efficiency in the process.”
TAE Technologies is pleased to announce the re-appointment of Marco Arese to its Board of Directors. Arese brings a wealth of entrepreneurial experience activating global capital, scaling international business, and cultivating renewable energy opportunities, all of which he will leverage on behalf of the company as it continues commercialization of its transformational technologies.
TAE Technologies’ modeling group has won a 2018 US Department of Energy INCITE (Innovative and Novel Computational Impact on Theory and Experiment) award on the Argonne Leadership Computing Facility’s Theta supercomputer. The award is for 31MCH (million core hours), which is equivalent to 100MCH on ALCF’s Blue Gene supercomputer, Mira, and will be used to accelerate our research in creating clean fusion energy.
TAE Technologies Welcomes Secretary of Energy Rick Perry on Tour of World’s Leading Private Fusion Energy Facility
TAE Technologies recently welcomed the Department of Energy and Secretary Rick Perry for a tour of our National Laboratory-scale platform, Norman. “It was an honor to host the Secretary and share with him our enthusiasm for the opportunities our fusion pathway can provide,” said CEO Michl Binderbauer.
TAE Technologies is proud to announce new executive appointments to lead the next phase of the company’s growth: Michl Binderbauer has been named Chief Executive Officer, assuming leadership from retiring CEO Dr. Steven Specker. Former GE Chairman and CEO Jeffrey R. Immelt joins the company’s Board of Directors.
Energy Manager Today 75 Award recognizes excellence in environmental sustainability and energy management.