Washington — TAE Technologies, a private company hoping to revolutionise electricity generation with nuclear fusion, said on Tuesday it has raised $250m in its latest funding from new investors including Chevron and its main backer, Google.
Fusion works when nuclei of two atoms are subjected to extreme heat, leading them to fuse into a new larger atom, giving off enormous amounts of energy in the process. TAE says that it has achieved temperatures of more than 75- million Celsius with its research reactor, called Norman, and that the new money will fund construction of its next research reactor, Copernicus."The caliber and interest of our investors validates our significant technical progress and supports our goal to begin commercialisation of fusion by the end of this decade," said TAE Technologies CEO Michl Binderbauer.
"TAE — and fusion technology as a whole — has the potential to be a scalable source of no-carbon energy generation and a key enabler of grid stability as renewables become a greater portion of the energy mix," said Jim Gable, vice-president for innovation and president of Chevron Technology Ventures.
Interesting