FOOTHILL RANCH, Calif., July 19, 2018 /PRNewswire/ -- Secretary Rick Perry today joined executives of TAE Technologies, Inc., the world's largest and most advanced private fusion energy company, at its headquarters in Southern California to witness its advancements toward commercial-scale fusion energy and the subsidiary technologies that promise to impact areas of global need including carbon-free energy, human health and the electrification of transportation.
The visit centered on a tour of "Norman," the $100+MM National Laboratory-scale device named for company co-founder Dr. Norman Rostoker, which was unveiled in May 2017 and quickly reached first plasma in June 2017.
After over 7,000 experiments to date, plasma performance is rapidly ramping up in Norman using advanced active feedback controls. Progress is on track to deliver record plasma temperature and duration, essential requirements for achieving fusion conditions, and further validating the beam-driven Field Reverse Configuration (FRC) approach unique to TAE Technologies.
"It was a great honor to host the Secretary and share with him our enthusiasm for the opportunities that our fusion pathway can provide," said TAE Technologies CEO Michl Binderbauer. "TAE Technologies is committed to providing an economically competitive source of fusion energy. For the last 20 years we have been fixed on developing fusion with the end in mind; energy that is price-competitive with other utility-scale generation technologies, that is free of harmful emissions and radiation, and that is easily added to existing grid infrastructure."
On his visit, the Secretary also reviewed the high-impact spin-off businesses in human health and mobility that TAE Technologies has developed by leveraging its significant portfolio of intellectual property, which includes more than 800 global patents. Earlier this year, the company announced TAE Life Sciences, a standalone business that leverages TAE Technologies' advanced accelerator beam technology for Boron Neutron Capture Therapy (BNCT), a promising treatment for difficult and inoperable cancers.
"As we continue developing the world's first commercial fusion generator, we are confident that the additional technologies we have developed in pursuit of fusion have similar transformative capabilities in other sectors," said Binderbauer.
TAE Technologies is led by global leaders, with its most recent appointment of Jeffrey Immelt, former CEO of GE, to its board of directors. Immelt joins Chairman Arthur Samberg, Managing Director, Hawkes Financial Services; former Morgan Stanley CEO John Mack; former US Secretary of Energy Ernest Moniz and a host of leaders across industries who bring global business expertise to the company as it continues its rapid trajectory towards commercialization of fusion power generation.
TAE Technologies has earned acclaim for its breakthrough work in fusion energy and proprietary accelerator beam technology. This year the company was acknowledged as an Energy Manager Today 75 Honoree, inducted into the U.S. Department of Energy INCITE program, and named a Global Cleantech 100 Innovator.
For more information on TAE Technologies and the benefits of fusion energy, visit tae.com.
ABOUT TAE TECHNOLOGIES
TAE Technologies is leveraging proprietary science and engineering to tackle the world's biggest challenges. Our core mission is to create a new source of clean energy – one that's powered by nature's own processes and produces no harmful byproducts. It's what we call Friendly Fusion. Our groundbreaking work has resulted in industry-wide advances in accelerator and plasma physics and acted as a catalyst for adjacent innovations in healthcare, transportation and power management. With 20 years of focused research, TAE Technologies is on a purposeful path to commercial fusion energy and pioneering sustainable solutions for a better tomorrow.
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SOURCE TAE Technologies, Inc.
