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Nuclear-Fusion Firm Hits Funding Record With Plasma Breakthrough

Nuclear-Fusion Firm Hits Funding Record With Plasma Breakthrough

TAE Technologies Inc., a developer of nuclear fusion technology, raised $280 million to build a demonstration system after the company was able to produce superheated plasma at 50 million degrees Celsius (90 million degrees Fahrenheit), a key milestone in the effort to reproduce the power of stars to generate electricity on Earth. The company has now raised more than $880 million from backers including Google, Venrock Associates and Kuwait Investment Authority, TAE said in a statement Thursday. That’s more than any other company pursuing fusion, according to Chris Gadomski, nuclear analyst for BloombergNEF.

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Claiming a landmark in fusion energy, TAE Technologies sees commercialization by 2030; raised nearly $1 billion to harness the power of the sun

Claiming a landmark in fusion energy, TAE Technologies sees commercialization by 2030; raised nearly $1 billion to harness the power of the sun

In a small industrial park located nearly halfway between Los Angeles and San Diego, one company is claiming to have hit a milestone in the development of a new technology for generating power from nuclear fusion. The 20-year-old fusion energy technology developer TAE Technologies said its reactors could be operating at commercial scale by the end of the decade, thanks to its newfound ability to produce stable plasma at temperatures over 50 million degrees (nearly twice as hot as the sun).

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This Nuclear Reactor Just Made Fusion Viable by 2030. Seriously.

This Nuclear Reactor Just Made Fusion Viable by 2030. Seriously.

TAE Technologies, the world’s largest private fusion company, has announced it will have a commercially viable nuclear fusion power plant by 2030, which puts it years—or even decades—ahead of other fusion technology companies. The California-based company has raised $880 million in funding for its hydrogen-boron reactor. This reactor isn’t a traditional tokamak or stellarator; instead, it uses a confined particle acceleration mechanism that produces and confines plasma.

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US fusion company expects commercial fusion power plant by the end of the decade

US fusion company expects commercial fusion power plant by the end of the decade

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”.

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Californian Google-backed TAE Technologies raises $280mn from new, existing investors

Californian Google-backed TAE Technologies raises $280mn from new, existing 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.

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