Country for PR: United Kingdom
Contributor: PR Newswire Europe
Tuesday, July 19 2022 - 23:31
TAE Technologies Exceeds Fusion Reactor Performance Goals By 250% As Company Closes $250 Million Financing Round, Totaling $1.2 Billion To Date
FOOTHILL RANCH, Calif., July 19, 2022 / PRNewswire-AsiaNet/ --

Following scientific milestones with current fusion reactor, Norman, TAE 
receives investments from long-term partner Google, as well as Chevron, 
Sumitomo Corporation of Americas, and others to fund the construction of the 
company's sixth-generation research reactor that will demonstrate the viability 
of net energy from TAE's approach 

After achieving temperatures greater than 75 million degrees Celsius and 
demonstrating unmatched real-time control of plasma with its state-of-the-art 
fusion research reactor, Norman, TAE Technologies ( today 
announced that it has secured strategic and institutional investments to fund 
the construction of its next research reactor, Copernicus.

As the world leader in hydrogen-boron fusion research, TAE's non-radioactive 
approach represents the fastest, most practical, and economically competitive 
solution to bring abundant carbon-free energy to the grid. TAE's Copernicus 
reactor, which will be constructed in a 100,000-square-foot facility in Irvine, 
Calif., is designed to demonstrate the viability of achieving net energy 
generation with TAE's advanced beam-driven field-reversed configuration (FRC) – 
the penultimate step on TAE's path to commercialize clean fusion power.

TAE's fifth-generation reactor, Norman, was unveiled in 2017 and was designed 
to keep plasma stable at 30 million degrees Celsius. After five years of 
experiments to optimize Norman's capabilities, the machine has proven capable 
of sustaining stable plasma at more than 75 million degrees Celsius, 250% 
higher than its original goal.

With a track record of over delivering on milestones and performance capacity, 
TAE has attracted the support of visionary investors and to date has raised a 
total of $1.2 billion for its commercial fusion development. In its recently 
closed Series G-2 financing round, TAE secured $250 million from investors in 
the energy, technology, and engineering sectors to support the company's 
mission to deliver a long-term solution to rapidly growing electricity demand 
while providing global energy independence and security. TAE's safe, 
non-radioactive approach avoids carbon and particulate emissions, mitigating 
any impact on the environment or climate change.

Chevron, Google, Reimagined Ventures, Sumitomo Corporation of Americas, and 
TIFF Investment Management are among the company's most recent investors, along 
with a large U.S. West coast based mutual fund manager and a big U.S. pension 
fund. Goldman Sachs served as the exclusive financial advisor in connection 
with the Series G-2 financing round.

"The caliber and interest of our investors validates our significant technical 
progress and supports our goal to begin commercialization of fusion by the end 
of this decade," said Michl Binderbauer, CEO of TAE Technologies. "Global 
electricity demand is growing exponentially, and we have a moral obligation to 
do our utmost to develop a baseload power solution that is safe, carbon-free, 
and economically viable."

Sumitomo Corporation of Americas (SCOA) is TAE's first investor from Japan, and 
will become a partner in deploying commercial power and other fusion-derived 
technologies to the Asia-Pacific market. SCOA, the largest subsidiary of 
Sumitomo Corporation, the Tokyo-based Fortune 500 global trading and business 
investment company, has signed a commercial collaboration agreement to pursue 
TAE-based technologies in Japan and Asia.

"We look forward to being a partner in bringing TAE's clean energy solutions to 
the APAC market, which will be paramount to sustaining local economies without 
impacting our planet," said Sandro Hasegawa, General Manager, Energy Innovation 
Initiative Americas at SCOA. "We are pleased to support TAE's groundbreaking 
fusion technology to create safe, sustainable energy sources across multiple 
industries and applications."

This investment follows TAE's landmark public-private partnership 
nce-nifs-for-fusion-fuel-research/) with Japan's National Institute for Fusion 
Science (NIFS).

Google continues to be an exceptional computational AI and machine learning 
partner for TAE. With a collaboration that began in 2014, Google's investment 
follows the success of the jointly developed Optometrist Algorithm 
(, which deploys Google's 
machine learning to optimize the operation of TAE's research reactors, 
substantially advancing the rate of progress and ultimate performance achieved. 
Programmatic steps that used to take well over a month can now be achieved 
within one day. In addition, the companies have developed breakthrough 
capabilities in holistically post-processing and integrating a large set of 
independent diagnostic measurements to produce high fidelity insights into 
experimental data at record-breaking scale 

Reimagined Ventures also joined this round as part of its mission to invest in 
visionaries who are solving some of society's biggest challenges. "Limitless 
zero-carbon clean energy is no longer a pipe dream – it's a future within reach 
thanks to TAE Technologies' incredible scientific advancements," said Jack 
Litowitz, Director of Strategic Investments at Reimagined Ventures. "Few 
challenges are as complex as replicating the sun's energy generation process. 
The number of sectors and lives that TAE's industry-leading work could 
positively impact is immeasurable. We're proud to invest in Michl and his team 
as we believe they're best positioned to forever alter the energy grid and 
democratize access to renewable fusion-based power for all."

Chevron invested in TAE through its Technology Ventures unit, dedicated to 
energy innovation. "TAE - and fusion technology as a whole - has the potential 
to be a scalable source of no-carbon energy generation and a key enabler of 
grid stability as renewables become a greater portion of the energy mix," said 
Jim Gable, Vice President, Innovation and President of Chevron Technology 

TIFF Investment Management Chief Investment Officer Jay Willoughby stated 
"Opportunities to back extraordinarily talented teams who can change the world 
do not come around often. The progress TAE has demonstrated and continues to 
make on the road to safe, clean, commercial fusion power is unique and 
something we all need." 


What sets TAE apart from other fusion efforts is the company's proprietary 
advanced beam-driven field-reversed configuration (FRC), a combination of 
plasma physics and accelerator physics, developed to integrate into the grid 
with TAE's preferred fuel source, hydrogen-boron, also known as proton-boron or 

TAE is committed to non-radioactive hydrogen-boron both for its abundance - in 
excess of 100,000 years supply globally - and because it is the cleanest, 
safest, most economical terrestrial fuel cycle for fusion, with no geopolitical 
concerns or proliferation risks. The company has worked toward delivering 
cost-competitive, environmentally benign hydrogen-boron fusion since its 
founding in 1998. Now, thanks to its proven money-by-milestone success and 
steady scientific progress, TAE is on the cusp of achieving that goal. (See

"Through successful training of Norman's state-of-the-art control system, 
paired with proprietary power management technology and extensive optimization 
of our machine learning algorithms, we have achieved a scale of control at an 
unparalleled level of integrated complexity," said Binderbauer. "Our 
long-standing expertise in fusion, together with seminal advances in design and 
operational mastery, are paying off handsomely as we progress toward delivering 
an inexhaustible clean energy source that has the capacity to transform the 
human experience and sustain future generations."

About TAE Technologies
TAE Technologies ( (pronounced T-A-E) was founded in 1998 to 
develop commercial fusion power with the cleanest environmental profile. The 
company's pioneering work represents the fastest, most practical, and 
economically competitive solution to bring abundant clean energy to the grid. 
With over 1,800 patents filed globally and over 1,100 granted, $1.2 billion in 
private capital raised, five generations of National Laboratory-scale devices 
built and two more in development, and an experienced team of over 400 
employees, TAE is now on the cusp of delivering this transformational energy 
source capable of sustaining the planet for thousands of years.

The company's revolutionary technologies have produced a robust portfolio of 
commercial innovations in large adjacent markets such as power management, 
energy storage, electric mobility, fast charging, life sciences, and more. TAE 
is based in California, and maintains international offices in the UK and 
Switzerland. Multidisciplinary and mission-driven by nature, TAE is leveraging 
proprietary science and engineering to create a bright future.

Photo -

SOURCE: TAE Technologies