The firm behind President Donald Trump's Truth Social platform is merging with a Google-backed energy company in a deal valued at more than $6 billion (£4.4 billion). Trump Media & Technology Group (TMTG) and TAE Technologies announced the plans on Thursday in a joint statement, which said the move would 'create one of the world's first publicly traded fusion companies'. Fusion power offers a method of generating energy from nuclear reactions, potentially yielding vast amounts of power with minimal associated radioactivity. The newly formed entity plans to start constructing the 'world's first utility-scale fusion power plant' next year, with additional plants anticipated subsequently.
Under the merger, both companies will hold an equal 50% ownership stake post-completion, expected by mid-2026, contingent on regulatory and shareholder approvals. The combined organization will feature a nine-member board that includes Trump Media's current CEO Devin Nunes, who will serve as co-CEO of the new firm alongside Donald Trump Jr.
TAE Technologies specializes in energy storage and power delivery systems, with its broader organization, TAE Life Sciences, engaging in the development of technologies and treatments for cancer. This merger represents a surprising pivot for Trump Media, as it shifts its focus from social media and finance into energy. Nunes stated that the company is '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, emphasizing Trump Media's role in providing capital and access to public markets to commercialize TAE's technology.
The agreement includes Trump Media potentially contributing up to $200 million (£149 million) in cash to TAE Technologies, with an additional $100 million (£74.7 million) upon transaction registration. With a surging demand for electricity—especially for AI data centers—there's renewed interest in cleaner nuclear power, which could involve restructuring existing reactors and planning for future small modular reactors. TAE Technologies has raised over $1.3 billion from investors such as Google and Goldman Sachs. Despite its recent struggles, with significant losses recorded since its inception, this merger opens a new chapter for Trump Media in the burgeoning field of fusion energy.
Under the merger, both companies will hold an equal 50% ownership stake post-completion, expected by mid-2026, contingent on regulatory and shareholder approvals. The combined organization will feature a nine-member board that includes Trump Media's current CEO Devin Nunes, who will serve as co-CEO of the new firm alongside Donald Trump Jr.
TAE Technologies specializes in energy storage and power delivery systems, with its broader organization, TAE Life Sciences, engaging in the development of technologies and treatments for cancer. This merger represents a surprising pivot for Trump Media, as it shifts its focus from social media and finance into energy. Nunes stated that the company is '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, emphasizing Trump Media's role in providing capital and access to public markets to commercialize TAE's technology.
The agreement includes Trump Media potentially contributing up to $200 million (£149 million) in cash to TAE Technologies, with an additional $100 million (£74.7 million) upon transaction registration. With a surging demand for electricity—especially for AI data centers—there's renewed interest in cleaner nuclear power, which could involve restructuring existing reactors and planning for future small modular reactors. TAE Technologies has raised over $1.3 billion from investors such as Google and Goldman Sachs. Despite its recent struggles, with significant losses recorded since its inception, this merger opens a new chapter for Trump Media in the burgeoning field of fusion energy.
