TAE Technologies, a fusion energy company based in Foothill Ranch near Los Angeles, has raised over $150 million in a new funding round backed by investors including Chevron, NEA and Google. According to a news release, the round also gives TAE the option to raise additional capital and brings its total equity funding to more than $1.3 billion since its founding.
Since 2014, TAE has worked with Google Research to accelerate fusion science through machine learning, with Google engineers collaborating onsite to co-develop technologies such as advanced plasma reconstruction algorithms.
Michl Binderbauer, CEO of TAE Technologies, said the following in a statement: “We’re delighted to continue our relationship with Google, who have not only provided funding to TAE but collaborated closely in research and development over many years. With this latest fundraise, we look forward to accelerating our efforts to deliver commercial fusion power.”
TAE’s fusion systems are designed to deliver carbon-free, utility-scale power that is both safe and sustainable.
