With a cash infusion from President Donald Trump’s media company, TAE Technologies says Alabama, Ohio and Texas are in the running to host a nuclear power plant producing abundant energy supplies.
The Foothill Ranch-based company is one of more than a dozen firms seeking to harness the same fusion reaction that fuels the sun as a way to produce electricity.
To keep pursuing its goals, TAE agreed in December to merge with Trump Media and Technology Group amid demand for cheap, environmentally friendly electricity production.
That demand has surged with growing numbers of energy-guzzling data centers across the country.
TAE said on April 7 under the terms of the deal, “TMTG has now provided $200 million of cash to TAE, and an additional $100 million is available to TAE upon the filing of a Form S-4 with the U.S. Securities and Exchange Commission.”
The deal was valued at more than $6 billion when it was announced in December.
Alabama, Ohio, Texas
TAE representatives, led by CEO Michl Binderbauer, recently wrapped up their three-state tour in search of a suitable site for its first commercial-scale nuclear plant (see story, page 40). No timeline has been announced for selecting the site for the Da Vinci plant, with construction expected to start this year.
The heat produced by the plant will be sent into a steam generator, which spins a turbine that then drives an electric generator, similar to what happens in operating power plants today.
TAE said the plant is targeting 50 megawatts of electric output in the early 2030s. The resulting electricity production would be enough to power tens of thousands of homes, according to the Wall Street Journal.
More and bigger plants are on the horizon, theoretically providing the world with virtually unlimited power.
Google, Chevron, Goldman
TAE said in December that it had raised more than $1.3 billion in private capital from Google, Chevron Technology Ventures, Goldman Sachs, Sumitomo Corporation of Americas, NEA, family offices of Addison Fischer, the Samberg Family, Charles R. Schwab and others.
The road ahead is still long, given the scientific challenges to developing nuclear fusion energy to generate electricity.
TAE maintains international offices in the U.K., the EU and Switzerland, in addition to its headquarters in Foothill Ranch.
The company has over 400 employees and does not disclose financial information.
Conventional nuclear plants—those in use today—split heavy atoms in a process called fission.
TAE’s fusion model, on the other hand, does the opposite: it combines light atomic particles into heavier ones, releasing enormous energy. Reaching that stage itself requires huge amounts of energy.
TAE Looks at Detailed Criteria for Nuclear Power Plant
TAE Technologies is looking at numerous factors when deciding where to build its first fusion power plant, including infrastructure readiness, grid connectivity, land access, workforce availability, transportation access, state and local incentives, and long-term development potential.
The company has narrowed the search down to Alabama, Ohio and Texas after a multi-state evaluation tour. All three states have been making a push to lure more companies to settle there.
“From a capital and execution standpoint, site selection is ultimately about what a region can support over time,” TAE CFO Cedric Burgher said April 7. “We are evaluating where the infrastructure, access and long-term conditions are in place to enable efficient development, operations and growth. We are also looking for places where we can establish a strong long-term presence, create jobs, deploy cutting-edge technology and contribute meaningfully to local communities.”
