TAE Technologies developed the Norman reactor in 2017 to maintain plasma at fifty-four million degrees Fahrenheit. The machine has demonstrated that it is able to stabilize a plasma at over one hundred and thirty-five million degrees Fahrenheit. This is more than two hundred and fifty percent greater than its initial aim after five years of steady improvement.
The non-radioactive method used in the design of Norman is called hydrogen-boron fusion. It is considered by many to be the quickest, most feasible, and most cost -effective way to supply the grid with large amounts of carbon-free electricity.
TAE has impressed investors and has raised one billion two hundred million for commercial fusion developments. The company has a track record of exceeding milestones and performance capabilities. Their mission is to provide a long-term solution to the world’s rapidly growing electricity demands while ensure global energy independence and security.
With their primary goal in mind, the company recently closed its Series G-2 financing round. In this round, it secured two hundred and fifty million dollars from investors in the energy, technology, and engineering sectors. By avoiding the emission of carbon dioxide and particulates, TAE’s safe, non-radioactive method minimizes any negative effects on the environment or the effects of climate change.
TAE’s most recent investors include Chevron, Google, Reimagined Ventures, Sumitomo Corporation of Americas, and TIFF Investment Management. They have also received funds from a big mutual fund manager with headquarters on the West Coast of the U.S. and a big U.S. pension fund.
Michl Binderbauer is the CEO of TAE Technologies. He said, “The caliber and interest of our investors validate our significant technical progress and support our goal to begin commercialization of fusion by the end of this decade. 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.”
TAE’s first Japanese investor was Sumitomo Corporation of Americas (SCOA). They will collaborate with TAE to bring commercial power and other fusion-derived technologies to the Asia Pacific market. A commercial collaboration agreement with SCOA has been signed. SCOA is a subsidiary of the Sumitomo Corporation which is a Fortune 500 global trade and business investment organization with headquarters in Tokyo, to develop TAE based technologies in Japan and Asial.
Sandro Hasagawa is the General Manager of Energy Innovation Initiative Americas at SCOA. He said, “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. We are pleased to support TAE’s groundbreaking fusion technology to create safe, sustainable energy sources across multiple industries and applications.”
TAE has secured strategic and institutional investments sufficient to fund the construction of its next research reactor call Copernicus. The TAE’s planned Copernicus reactor will be constructed in a one hundred thousand square foot facility in Irvine California. The goal of the Copernicus project is to demonstrate that the company’s advanced beam-driven field-reversed configuration (FRC) can produce net energy. This is the last step on the road to commercializing clear fusion power.