(DCNF)—Trump Media & Technology Group (TMTG) announced a merger Thursday with the nuclear fusion company, TAE Technologies (TAE).
The all-stock transaction is valued at more than $6 billion, according to TMTG. President Donald Trump has previously moved to bolster nuclear energy through executive action — though fusion technology has infamously struggled to deliver commercially viable and grid-scale power, despite decades of research.
“Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Devin Nunes, TMTG Chairman and CEO, said in a statement. “Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s — an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense. TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.”
Trump has signed multiple executive orders aimed at bolstering the American nuclear industry. Notably, Trump’s Department of Energy (DOE) issued a $1 billion loan to a nuclear energy company planning to reopen one of the reactors on Three Mile Island in Pennsylvania.
Fusion is “the process by which two light atomic nuclei combine to form a single heavier one while releasing massive amounts of energy,” according to the International Atomic Energy Agency (IAEA).
The IAEA also notes that while “conditions that are very close to those required in a fusion reactor are now routinely achieved in experiments, improved confinement properties and stability of the plasma are needed. Scientists and engineers from all over the world continue to test new materials and design new technologies to achieve fusion energy.”
TAE was “founded in 1998 to develop commercial fusion power with the cleanest environmental profile,” according to its website.
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