Non-radioactive hydrogen-boron is possibly the leanest, safest, most economical terrestrial fuel cycle for fusion with no geopolitical concerns or proliferation risks.
Big private money is being spent on researching fusion including from Google.
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.
Foothill Ranch, Calif.: 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.
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.
5EA Price at posting:
$2.15 Sentiment: Buy Disclosure: Held
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