The company behind President Donald Trump’s Truth Social platform is merging with fusion company TAE Technologies in a deal valued at more than $6bn. Trump Media & Technology Group (TMTG) and TAE Technologies said the move would “create one of the world’s first publicly traded fusion companies”. According to the statement, the combined company planned to begin constructing the “world’s first utility-scale fusion power plant” next year, with further plants to follow.
Both companies will have an equal 50% share in ownership after the deal is completed, which is expected by mid-2026 pending regulatory and shareholder approvals. The combined company will be governed by experienced management and board, and TAE CEO and Director, plan to serve as Co-CEOs of the combined company, is expected to be named Chairman of a planned nine-member board of directors.
The combined company will be managed by a nine-member board of directors, comprised of: two directors from TMTG – Chairman and CEO Devin Nunes, and Donald Trump Jr; two directors from TAE, including CEO Dr Michl Binderbauer and Michael B Schwab, Founder and Managing Director of Big Sky Partners; as well as five other independent directors to be selected and named later. Schwab is expected to be named board chair.
TAE Technologies provides technology for energy storage and power delivery systems for batteries and electric vehicles. Its umbrella organisation, TAE Life Sciences, develops technologies and drugs for treating cancer patients.
Nunes said his firm was “taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations”. He described fusion power as the “most dramatic energy breakthrough” since the 1950s and said Trump Media would bring “the capital and public market access” to help make TAE’s technology commercial viable.
Trump Media is to provide up to $200m of cash to TAE Technologies when completion of the deal is signed. An additional $100m will be available once the transaction has been registered.
In June 2025, TAE Technologies raised more than $150m in a funding round, exceeding the initial target, with more than $1.2bn in equity capital raised since inception through 11 previous fundraises. Investors include Google, Chevron, Sumitomo Corporation of Americas, NEA, Wellcome Trust, and the offices of Addison Fischer, the Samberg Family, Charles Schwab, and others.
TAE was founded in 1998 to develop commercial fusion power and has been granted more than 1,500 patents worldwide. It has constructed five generations of prototypes. TAE says its hydrogen-boron fusion research approach represents the fastest, most practical, and economically competitive solution to bring fusion energy to the grid. TAE’s sixth generation Copernicus reactor, which will be constructed in a 100,000-square-foot facility in Irvine, California, is designed to demonstrate the viability of achieving net energy generation with TAE’s advanced beam-driven field-reversed configuration (FRC) – the penultimate step on the path to commercialise fusion power.
FRC uses a combination of plasma physics and accelerator physics, developed to integrate into the grid with TAE’s preferred fuel source, hydrogen-boron, also known as proton-boron or p-B11. TAE’s fifth-generation reactor, Norman, unveiled in 2017, was designed to keep plasma stable at 30 million degrees Celsius. After five years of experiments to optimise Norman’s capabilities, in 2022, the machine proved capable of sustaining stable plasma at more than 75m degrees Celsius, 250% higher than its original goal. TAE then secured strategic and institutional investments to fund the construction of Copernicus.
Upon closing, Trump Media & Technology Group will be the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among others. The transaction, which was approved by the boards of directors of both companies, is expected to close in mid-2026, subject to customary closing conditions, including shareholder and regulatory approvals.
