A fusion power company developing commercial hydrogen-boron fusion energy using a proprietary Field-Reversed Configuration (FRC) technology, aiming to deliver clean, carbon-free electricity to the grid.
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MATERIALLY INCOMPLETE HISTORY: TAE has raised over $1.3B across ~11-12 rounds since inception; public reporting on most early rounds is thin. BIGGER PICTURE: on Dec 18 2025, Trump Media & Technology Group (DJT) announced a ~$6B all-stock merger with TAE to create the first publicly traded fusion-power company (expected to close mid-2026) — a going-public event via reverse merger, not a conventional IPO, that supersedes any standalone private valuation as the relevant framework going forward. If the (unverified) $7.25B 2022 mark is accurate, TAE's private valuation fell ~66% by 2025 — a flag worth independent verification.
Low: Tracxn, Jun 2026. High: Revelio Labs, Mar 2026.
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TAE Technologies pursues fusion by confining a field-reversed configuration, a plasma that produces much of its own confining magnetic field, and sustaining it with beams of energetic neutral atoms. The intended fuel is hydrogen-boron. TAE says it will move directly to Da Vinci, a first power plant, with a stated goal of commercial fusion by the early 2030s.
| Date | Type | What |
|---|---|---|
| Nov 17, 2025 | Milestone | TAE said it would skip Copernicus, its planned research machine, and move directly to Da Vinci, a first power plant |
| Apr 12, 2025 | Milestone | Nature Communications paper (Roche et al.) reports FRC plasmas generated by neutral beam injection only |
| 2025 | Paper | Generation of field-reversed configurations via neutral beam injection |
| 2024 | Milestone | Nuclear Fusion paper on Norman reports plasma energy of about 13 kJ sustained up to about 40 milliseconds |
| 2024 | Paper | Enhanced plasma performance in C-2W advanced beam-driven field-reversed configuration experiments |
| Feb 2023 | Milestone | Nature Communications paper with TAE authors recorded p-11B alpha emission in the Large Helical Device in Japan, not in a TAE machine |
| Jan 24, 2023 | Milestone | TAE Power Solutions announced, built around power-delivery and energy-storage technology developed for Norman |
| Jan 2023 | Acquisition | Sprint Power (UK; transport electrification, electrical systems integration) — acquired by subsidiary TAE Power Solutions |
| Jan 2023 | Acquisition | Eltrium (UK; energy-storage systems, power distribution and electronic assemblies) — acquired by subsidiary TAE Power Solutions |
| 2023 | Paper | First measurements of p11B fusion in a magnetically confined plasma |
| Jul 19, 2022 | Milestone | The company reported stable plasma above 75 million degrees Celsius |
| Apr 8, 2021 | Milestone | The company reported stable plasma above 50 million degrees Celsius |
| 2021 | Paper | Overview of C-2W: high temperature, steady-state beam-driven field-reversed configuration plasmas |
| Mar 29, 2019 | Patent filed | US 11,135,923 B2 Module-based energy systems capable of cascaded and interconnected configurations, and methods related thereto |
| Mar 12, 2018 | Milestone | TAE Life Sciences launched to apply TAE's accelerator-based neutron beam to boron neutron capture therapy |
| 2017 | Milestone | C-2W machine, called Norman, unveiled; the company, by then called Tri Alpha Energy, became TAE Technologies |
| 2015 | Milestone | C-2U machine |
| 2015 | Paper | A high performance field-reversed configuration |
| Nov 19, 2014 | Patent filed | US 10,375,814 B2 Photon neutralizers for neutral beam injectors |
| Sep 24, 2013 | Patent filed | US 10,049,774 B2 Systems and methods for forming and maintaining a high performance FRC |
| Mar 8, 2013 | Patent filed | US 9,924,587 B2 Negative ion-based neutral beam injector |
| 1999 | Milestone | Sewer Pipe machine (1999-2000), followed by C-1 and C-2 |
| 1998 | Milestone | Founded as Colliding Beam Fusion Reactor Inc.; the company traces its approach to 1990s work by Norman Rostoker and Michl Binderbauer at UC Irvine |
Patents. The four listed U.S. patents cover a negative-ion neutral beam injector, forming and maintaining a high-performance FRC, photon neutralisers for beam injectors and a modular energy-storage architecture; the older ones record the October 2017 change of name from Tri Alpha Energy.
TAE Technologies, Inc. of Foothill Ranch, California, was founded in 1998 as Colliding Beam Fusion Reactor Inc. and was later called Tri Alpha Energy; it became TAE Technologies in 2017. The company traces its approach to work by Norman Rostoker and Michl Binderbauer at UC Irvine in the 1990s: confine a field-reversed configuration (FRC), a plasma that produces much of its own confining magnetic field, and sustain it by injecting beams of energetic neutral atoms. The intended fuel is hydrogen-boron (p-11B). Its machines were the Sewer Pipe (1999-2000), C-1, C-2, C-2U (2015) and C-2W, called Norman, unveiled in 2017. The company reported stable plasma above 50 million degrees Celsius on April 8, 2021 and above 75 million on July 19, 2022; both are company statements. A 2024 Nuclear Fusion paper on Norman reports plasma energy of about 13 kJ sustained up to about 40 milliseconds.
A Nature Communications paper of April 12, 2025 (Roche et al.) reports FRC plasmas generated by neutral beam injection only. TAE says the reconfigured machine, Norm, does without the theta-pinch formation sections at each end of Norman and cuts length and complexity by up to 50 percent. On November 17, 2025 TAE said it would skip Copernicus, the research machine it raised money for in 2022, and move directly to Da Vinci, a first power plant; its stated goal is commercial fusion by the early 2030s. Hydrogen-boron fusion has been measured, but not in a TAE machine: a February 2023 Nature Communications paper with TAE authors recorded p-11B alpha emission in the Large Helical Device in Japan.
Two subsidiaries commercialise parts of the programme. TAE Life Sciences, majority owned, launched on March 12, 2018 with a $40 million round led by ARTIS Ventures to apply TAE's accelerator-based neutron beam to boron neutron capture therapy. TAE Power Solutions was announced on January 24, 2023 around power-delivery and energy-storage technology built for Norman; the same release said it had acquired two UK firms, Sprint Power and Eltrium, at undisclosed prices. The parent said it had raised $1.2 billion by July 2022, with Google and Chevron among investors. On December 18, 2025 TAE signed an all-stock merger agreement with Trump Media & Technology Group (TMTG). The merger is pending: on TMTG's August 10, 2026 earnings call, filed with the SEC on August 11, management said the Form S-4 had not yet been filed and that it still targets closing by the end of 2026. Either party may terminate if it has not closed by December 18, 2026. No closing filing appeared on EDGAR through September 19, 2026.
The four U.S. patents listed cover a negative-ion neutral beam injector (priority March 2013), forming and maintaining a high-performance FRC (priority September 2013), photon neutralisers for beam injectors, and a modular energy-storage architecture. Google Patents shows TAE Technologies Inc as assignee; the older ones record the October 2017 change of name from Tri Alpha Energy. In July 2022 the company claimed more than 1,100 granted patents worldwide; PrePost has not verified that count.
Profile as of Sep 19, 2026.
| Round | Date | Valuation | Lead |
|---|---|---|---|
| Series 12 | 2025-06-02 | $2.5B-66% | Not disclosed -- TAE's own release names Chevron Technology Ventures, Google, and NEA as co-participants, with no lead designated |
| Series G | 2022-07-19 | $7.2B | Not disclosed -- TAE's own release names Chevron, Google, Reimagined Ventures, Sumitomo Corporation of Americas, TIFF Investment Management, and unnamed mutual-fund/pension-fund investors as participants, with no lead designated (Goldman Sachs was exclusive financial advisor, not an investor) |
No confirmed lead investor on record for any tracked round — see Rounds Completed for the full cited investor detail on TAE Technologies.
| Status | agreed but not yet closed; S-4 not yet filed as of Aug 28 2026, timeline already slipped once |
|---|---|
| Target valuation | $6.0B |
| Details | Announced ~$6B all-stock reverse merger with Trump Media & Technology Group (DJT) to become the first publicly traded fusion-power company -- a going-public event via merger, not a conventional funding round or IPO. Timeline has slipped once already (mid-2026 to 'Q4 2026 or sooner' per a June 2026 update); as of the most recent filing found (Aug 28 2026), the required Form S-4 still had not been filed, only 'intends to file' language, meaning shareholder votes and closing likely remain months out. TMTG's own CEO transition (Devin Nunes stepped down Apr 2026 amid >$1B in TMTG losses; Kevin McGurn now interim CEO) removes the co-CEO structure originally named in the Dec 2025 deal terms. Since this is an all-stock deal, DJT's stock has fallen sharply (reportedly down ~45% year-to-date and >90% from its post-announcement high as of Sept 2026) since the deal was struck, meaning the real value of the '>$6B' headline to TAE shareholders is likely well below that figure -- not recomputed by any source found. |
| Source | SEC 8-K filings (CIK 0001849635), Jun 10/Aug 10/Aug 28 2026; CNBC, Aug 24 2026 (interim CEO interview) |
| Status | S-1 Not Filed |
|---|---|
| Key hire | Cedric Burgher -- former Occidental Petroleum CFO, hired to scale public-company-ready processes ahead of TAE's planned reverse merger with Trump Media & Technology Group -- announced February 27, 2026 |
| Target val. | $6.0B |
| Timing | Q4 2026 or sooner (slipped once already; no firm date) |
| Listing | Nasdaq (via TMTG's existing listing, ticker DJT) |
| Notes | Not a conventional IPO -- an all-stock reverse merger with Trump Media & Technology Group (DJT) that would make TAE the first publicly traded fusion-power company. No S-1/DRS filed since this isn't a registered offering; the required Form S-4 also hadn't been filed as of Aug 28 2026, only 'intends to file' language. Because it's all-stock, DJT's own steep decline since the deal was announced means the real value to TAE shareholders is likely well below the ~$6B headline figure. |
| Source | SEC 8-K filings (CIK 0001849635), Jun 10/Aug 10/Aug 28 2026; CNBC, Aug 24 2026; TAE Technologies newsroom and Reuters, Feb 27 2026 (Cedric Burgher hire) |
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