Trump Media & Technology Group Corp. (TMTG) has announced a significant merger with TAE Technologies, a leader in fusion power. This all-stock transaction is valued at over $6 billion, positioning the combined entity as one of the first publicly traded companies focused on fusion energy. The merger aims to enhance America’s strength in artificial intelligence (AI) and energy security.
Details of the Merger
Under the definitive agreement, TMTG and TAE Technologies will operate under a single umbrella. TMTG is the parent company of the social media platform Truth Social, which is now publicly listed as “DJT.” The merger will see current stockholders from both companies owning around 50% each of the merged entity.
- TMTG CEO Devin Nunes and TAE CEO Dr. Michl Binderbauer will serve as co-CEOs.
- Michael Schwab is expected to be the chairman of the new board of directors, comprising nine members.
Future Plans for Fusion Power
The newly formed organization plans to begin construction on its first utility-scale fusion power plant by 2026, pending necessary approvals. Additional fusion power plants are also on the agenda.
Benefits of Fusion Power
Fusion technology promises to deliver “economic, abundant, and dependable electricity.” This innovation is anticipated to play a crucial role in securing the U.S.’s position in the AI sector and ensuring its dominance in the global marketplace.
- Over 25 years of research and development have gone into TAE’s fusion technology.
- Five fusion reactors have been successfully built and operated safely.
- TAE has raised over $1.5 billion in private funding to date.
Nunes emphasized that TMTG’s merger with TAE not only supports free expression but also advances revolutionary energy technology that will have lasting impacts on the economy and national defense. He described fusion power as a potential game-changer in energy supply, price reduction, and manufacturing revitalization.
Statements from Leadership
Dr. Binderbauer expressed optimism about the merger, highlighting the commitment of TAE’s talented team to address global energy scarcity. He noted that recent breakthroughs allow the company to fast-track the commercialization of its fusion technology.
The merger has attracted advisory support from several firms, including DLA Piper LLP for legal counsel and Barclays for financial advisory for TAE.
