TAE Technologies is a private fusion company developing hydrogen-boron fusion with a beam-driven field-reversed-configuration architecture.
Latest update Oct 17, 2026
01
Its 2025 'Norm' breakthrough reduced reactor complexity enough to skip the planned Copernicus step and move directly toward Da Vinci, its first prototype power plant. On August 6, 2026 TAE said Da Vinci had completed its key designs, with construction still planned later in 2026 and first fusion power targeted in 2031. In 2026 it also completed a multi-state site evaluation tour for the first 50 MWe plant (Alabama, Ohio, Texas), formally established the TAE Beam UK joint venture with UKAEA at Culham, and is targeting a Q4 2026 close of its $6B all-stock merger with Trump Media & Technology Group. Form S-4 file 333-299201 was accepted 30 September 2026 and is not effective; TMTG filed a Rule 473 delaying amendment on 2 October 2026. The extra $100 million second tranche is requestable through 29 November 2026, but no EDGAR 8-K reports a drawdown request or funding. No final plant site has been announced. The merger agreement's outside date is December 18, 2026. The company now states more than $1.5B in private capital. On September 9, 2026 it named Darrell Taylor General Counsel. TAE Power Solutions and TAE Life Sciences commercialize adjacent power-delivery and oncology technologies derived from its fusion R&D.
sec.govUpdated Oct 7, 2026
02
2026
Convert the April 7, 2026 completion of the Alabama/Ohio/Texas site evaluation tour into a final site choice and start construction of the initial ~50 MWe Da Vinci facility. TAE's August 6, 2026 update said key designs were complete and construction was still planned later in 2026, contingent on the TMTG merger close (still targeted by end of 2026) and approvals. Re-verified September 18, 2026: no final site had been announced, and TAE's news page still lists the April tour as the latest siting update.
2026-2027
Push the current experimental platform from 70+ million °C - already the highest temperature recorded on a steady-state FRC - toward 100 million °C to validate operating modes and hardware for TAE's next-generation reactors. Re-verified September 18, 2026 on TAE's FAQ: the upgrade remains described as planned/in progress, with no announcement that 100 million °C has been reached.
End of 2026
File the still-pending Form S-4 with the SEC (unlocks an additional $100M of TMTG cash for TAE on top of the $200M provided at signing), then obtain TMTG shareholder and regulatory approvals to close the all-stock merger - a June 10, 2026 update pushed the target to Q4 2026 or sooner and dropped the earlier plan to spin off Truth Social - and fund Da Vinci construction. TMTG's Form 8-K filed August 10, 2026 said it intends to file using Q2 2026 financials once TAE's going-public audits are finished. Re-verified September 18, 2026: the S-4 remained unfiled, TAE's news page had no merger-filing update, and the merger agreement's outside date is December 18, 2026.
2026
TargetLate 2026, outside date 18 Dec 2026
2027-2028
Operationalize the newly funded UKAEA joint venture at Culham, hire its neutral-beam program team, and deliver the first short-pulse beams within 18-24 months of program start (target ~late 2027 to mid-2028). Re-verified September 18, 2026: TAE's news page still lists the May 14, 2026 establishment as the latest Beam UK update, with no beams delivered yet, still within the original window.
2031
Deliver first fusion-generated electricity to the grid from the ~50 MWe Da Vinci prototype plant, establishing TAE as a commercial fusion power provider, with follow-on plants scaling to 350-500 MWe. TAE's August 6, 2026 update specified a 2031 first-power goal (the FAQ still says early 2030s). Site selection and construction start remain gated on closing the proposed TMTG merger, still targeted for a close by end of 2026; no final site had been announced as of September 18, 2026, and the Form S-4 was still unfiled.
03
Trump Media & Technology Group and TAE Technologies filed a Form S-4 with the SEC on September 30, 2026 for their previously announced all-stock merger. EDGAR lists the filing as accepted at 08:38:55 Eastern under file number 333-299201; the registration statement is not yet effective. The companies said TMTG shareholders and TAE stockholders would each own about 50% of the combined company on a fully diluted basis after close, subject to shareholder, stockholder and regulatory approvals.
TAE Technologies and Black Moon Energy Corporation announced a strategic agreement on August 5 under which Black Moon, a privately funded lunar-resource company, would supply helium-3 fuel to support TAE's fusion power development as an alternative pathway to deuterium-tritium fuel cycles. Black Moon plans a robotic lunar delineation mission within five years to de-risk commercial-scale helium-3 production, as TAE continues advancing its first Da Vinci fusion power plant and its pending merger with Trump Media & Technology Group.
Fusion developer TAE Technologies appointed Jeff Woodbury as president and chief operating officer on June 17 to help drive commercial fusion deployment. Woodbury spent roughly 35 years at ExxonMobil, where he held senior roles overseeing large-scale operations, major capital projects, and global upstream activities, most recently as a corporate vice president and officer. He joins as TAE advances site selection and design for its first utility-scale fusion power plant, an initial roughly 50-MWe facility targeted for the early 2030s.
TAE Technologies and Trump Media & Technology Group said on June 10 they now aim to close their roughly $6 billion all-stock merger in the fourth quarter of 2026 or sooner, pushing the target out from an earlier mid-2026 window. The companies also confirmed they will no longer pursue a previously discussed spin-off of TMTG media assets - including Truth Social - into a separate company, with the combined board to weigh options for legacy units after closing. TMTG plans to file a Form S-4 registration statement covering the shares issued in the deal, which would take the hydrogen-boron fusion developer public.
04
TAE's streamlined fusion research machine that forms field-reversed-configuration plasmas using only neutral beam injection, reducing reactor size, complexity, and cost versus Norman while preserving the path to commercial hydrogen-boron fusion.
TAE's first prototype commercial fusion power plant, designed to deliver net electrons to the grid from the company's hydrogen-boron fusion pathway and serve as the bridge to later utility-scale plants.
05
near-term commercialization centered on TAE Power Solutions and TAE Life Sciences. Company states more than $1.5B in private capital, including the $200M TMTG first tranche funded at signing. Up to $100M more is requestable during the second-tranche window that opened on the 30 Sept 2026 S-4 filing and ends 29 Nov 2026 or on merger termination; no EDGAR 8-K through 7 Oct 2026 reports a request or transfer.
(company figure as of September 2026, including the $200M TMTG first tranche funded at signing). Up to $100M more is requestable through 29 November 2026. The EDGAR submissions feed retrieved 17 October 2026 lists no 8-K after the 2 October delaying amendment.
about 50/50 fully diluted. Form S-4 file 333-299201 was accepted 30 September 2026 and is not effective. TMTG filed a Rule 473 delaying amendment on 2 October 2026. EDGAR submissions retrieved 17 October 2026 show no later 8-K, so no public second-tranche draw. Outside date 18 December 2026.
TAE's August 6, 2026 update targets first fusion power in 2031 (FAQ still says early 2030s); follow-on plants 350-500 MWe
about 50/50 fully diluted. S-4 filed 30 Sept 2026 (333-299201, accepted 08:38:55 Eastern), not effective. HSR expired 19 Feb 2026. Remaining: TMTG shareholder vote (share issuance and articles amendment), TAE stockholder consent, S-4 effectiveness with no stop order, Nasdaq and NYSE Texas listing, tax opinion under Code 368(a). Outside date 18 Dec 2026. Extra $100M is requestable, not confirmed transferred.
about 50/50 fully diluted. S-4 filed 30 Sept 2026 (333-299201), not effective. Rule 473 delaying amendment filed 2 Oct 2026. No TMTG shareholder vote or TAE consent completed. Extra $100M requestable through 29 Nov 2026; no EDGAR 8-K reports a draw. Outside date 18 Dec 2026.
06
Operating status
Pre-revenue in fusion; S-4 delayed, not effective; $100M not drawn
Pre-revenue in fusion. TMTG Form S-4 file 333-299201 was accepted 30 Sept 2026 and is not effective. On 2 Oct 2026 TMTG filed a Rule 473 delaying amendment (accession 0001437749-26-031872) so effectiveness waits on a further amendment or SEC action under Section 8(a). No EFFECT filing is on EDGAR. The extra $100M second tranche remains requestable through 29 Nov 2026 or merger termination, minimum $50M per request; no 8-K after 30 Sept reports a Drawdown Request or funding. TMTG's 1 Oct 425 interview still treats siting and a shovel in the ground before year-end as open. Remaining close conditions include TMTG shareholder approval, TAE stockholder consent, S-4 effectiveness, Nasdaq and NYSE Texas listing, a tax opinion, and the 18 Dec 2026 outside date. Da Vinci still later-2026 construction / 2031 first power; no site named. Norm 100 million C upgrade still planned.
Subsidiary commercializing power-delivery and battery energy-storage systems originally built for TAE's fusion program, including EV powertrains and stationary storage applications. In June 2026 it made its first field deployment, shipping a hybrid battery-plus-ultracapacitor storage prototype to MARA Holdings for grid-responsive load management at data-center scale, with production deployments planned later in 2026.
Subsidiary developing boron neutron capture therapy (BNCT) platforms and related drugs for complex cancers using accelerator technology adapted from TAE's fusion R&D. April 2026 peer-reviewed research showed its next-generation BPA-dipeptide boron-delivery compounds achieved 12–77x higher solubility than standard BPA and complete, durable tumor regressions in preclinical models.
TAE Beam UK (UKAEA joint venture)
Joint venture with the UK Atomic Energy Authority formally established May 14, 2026 at UKAEA's Culham Campus. Develops neutral-beam particle accelerators for fusion (TAE's own multi-year demand plus third-party fusion approaches) and adapts the technology for cancer therapeutics, food safety, and other non-fusion applications. UKAEA equity investment: £5.6M; TAE backstops with a nine-figure investment. First short-pulse beams targeted within 18–24 months.
07
2026
TMTG files Rule 473 delaying amendment on the TAE merger S-4
On 2 October 2026 TMTG filed a delaying amendment to Form S-4 file 333-299201 (accession 0001437749-26-031872, accepted 16:07:59 Eastern). The letter adds Rule 473 cover-page language so the registration statement does not become effective until TMTG files a further amendment stating it shall become effective under Section 8(a), or until the SEC sets an effective date. This is not S-4 effectiveness, a shareholder vote, TAE consent, or a second-tranche funding notice.
Amended note opens $100M second-tranche draw window on S-4 filing
On 30 September 2026, with the Form S-4 filing, TMTG and TAE restated the unsecured convertible note. The $200M first tranche remains funded. Up to $100M more is available if TAE requests draws of at least $50M during the 60-day window (ends 29 November 2026 or on merger termination). The S-4 does not state that any second-tranche cash has been wired. Simple interest is 7% PIK.
Files Form S-4 with TMTG for proposed all-stock merger
On September 30, 2026 TAE and Trump Media & Technology Group announced they filed a Form S-4 registration statement with the SEC for their December 18, 2025 all-stock merger. EDGAR accepted the filing at 08:38:55 Eastern as accession 0001437749-26-031534, file number 333-299201. The registration statement includes a preliminary TMTG proxy statement, TMTG prospectus and TAE consent solicitation statement and has not become effective. The companies said each side would own about 50% of the combined company on a fully diluted basis after close. Close remains subject to shareholder, stockholder and regulatory approvals; the merger agreement outside date is still December 18, 2026.
Darrell Taylor joins as General Counsel
On September 9, 2026 TAE announced that Darrell Taylor had joined as General Counsel. Taylor brings more than 30 years advising companies on corporate and securities matters, mergers and acquisitions, capital markets, and public-company compliance across energy, energy services, and petrochemicals. The hire lands as TAE prepares for the still-pending TMTG merger and Form S-4 filing. TAE's leadership page lists Taylor alongside Ken Roberts under General Counsel.
Da Vinci completes key designs; first power targeted for 2031
On August 6, 2026 TAE said its first commercial-scale fusion power plant, Da Vinci, had completed its key designs and was advancing through siting, with construction still planned later in 2026 and a goal to begin producing fusion power in 2031. The post sits on TAE's news page as of September 18, 2026; no later construction-start or site-selection announcement has followed.
Helium-3 fuel supply agreement with Black Moon Energy
On August 5, 2026, TAE signs a strategic agreement with Black Moon Energy Corporation, a privately funded lunar-resource company, under which Black Moon would supply helium-3 fuel to support TAE's fusion power development as an alternative to deuterium-tritium fuel cycles. Black Moon plans a robotic lunar delineation mission within five years to de-risk commercial-scale helium-3 production.
TMTG reaffirms merger timeline in Form 8-K
Trump Media & Technology Group files a Form 8-K on August 10, 2026 stating it intends to file the still-pending Form S-4 for the TAE merger using its Q2 2026 financials, and reaffirming the target to close the roughly $6B all-stock merger by end of 2026.
TAE Power Solutions ships first hybrid storage prototype to MARA
On June 30, 2026 TAE Power Solutions shipped its first hybrid energy-storage prototype - pairing battery cells, ultracapacitors, and high-speed power electronics derived from TAE's fusion program - to MARA Holdings (NASDAQ: MARA) for field validation at a MARA site. It is the first field deployment under the companies' 2025 collaboration on grid-responsive load management for power-intensive digital infrastructure, with additional production deployments planned later in 2026 - an early commercial proof point for TAE's non-fusion revenue lines.
2026
Jeff Woodbury named President and COO
On June 17, 2026, TAE appoints Jeff Woodbury as President and Chief Operating Officer to support commercial fusion deployment. Woodbury spent roughly 35 years at ExxonMobil, holding senior roles overseeing large-scale operations, major capital projects and global upstream activities, most recently as a corporate vice president and officer. He joins as TAE advances site selection and design for its first utility-scale fusion power plant, an initial ~50 MWe facility targeted for the early 2030s.
TMTG merger reset to Q4 2026 close; Truth Social spin-off dropped
On June 10, 2026, TAE and Trump Media & Technology Group said they now aim to close their ~$6B all-stock merger in the fourth quarter of 2026 or sooner, moving the target out from the originally signaled mid-2026 window. The companies also confirmed they will no longer pursue a previously discussed spin-off of TMTG media assets including Truth Social, with the combined company's board to weigh strategic alternatives for legacy units after closing. A Form S-4 registration statement to register the TMTG shares issued in the merger remains to be filed.
TAE Beam UK joint venture formally established
On May 14, 2026, TAE and the UK Atomic Energy Authority announce that their TAE Beam UK joint venture is formally established and fully funded. UKAEA is making a £5.6M equity investment, TAE is backstopping with a nine-figure investment, and the venture is based at UKAEA's Culham Campus in Oxfordshire. It will develop neutral beams for fusion plus adapted accelerator technology for cancer therapeutics, food safety, and other applications, with first short-pulse beams targeted within 18–24 months.
TAE Life Sciences publishes BNCT boron-delivery breakthrough
On April 7, 2026 TAE Life Sciences announced peer-reviewed research in ACS Pharmacology & Translational Science on a next-generation boron-delivery platform for boron neutron capture therapy (BNCT). Its proprietary BPA-dipeptide compounds showed 12–77x higher solubility than standard boronophenylalanine and, in preclinical models, drove complete and durable tumor regressions - including a 100% complete-response rate in a human head-and-neck cancer xenograft - plus evidence of a systemic anti-tumor immune effect, advancing TAE's accelerator-based oncology business.
Multi-state site evaluation tour completed
On April 7, 2026, TAE announces it has completed its multi-state site evaluation tour across Alabama, Ohio, and Texas for its first 50 MWe fusion power plant. The leadership team (Binderbauer, CFO Burgher, TAE Global GmbH CEO Jonathan Toretta) met with state and local officials and assessed infrastructure readiness, grid connectivity, land access, workforce availability, transportation access, and incentives.
On February 27, 2026, TAE names Cedric Burgher Chief Financial Officer. Burgher previously served as CFO of Occidental Petroleum, QR Energy, and KBR; at TAE he will oversee accounting, capital markets, treasury, and investor relations and focus on scaling public-company processes ahead of the proposed TMTG merger.
TMTG and TAE commence joint site-selection planning
On January 6, 2026, Trump Media & Technology Group and TAE announce the site-selection planning process is underway for the first utility-scale fusion power plant. Following required approvals and merger close, the combined company is anticipated to begin construction in 2026 on a ~50 MWe facility, with follow-on plants scaling to 350–500 MWe.
2025
TAE signs a definitive agreement to merge with Trump Media & Technology Group in an all-stock transaction valued at more than $6B, subject to approvals and closing conditions.
Copernicus removed from roadmap
TAE says Norm's performance is strong enough to leapfrog the planned Copernicus machine and move directly toward Da Vinci.
Raises more than $150M from investors including Chevron Technology Ventures, Google, and NEA, taking total equity capital raised since inception to more than $1.3B.
TAE publishes its Nature Communications breakthrough showing FRC plasma formation using only neutral beam injection, creating the simpler 'Norm' machine.
2022
2021
2017
2015
1998
08
$680Mdisclosed across 3 rounds with a stated amount
Cumulative disclosed raise · dated rounds
