Fusion energy is expected to be a next generation basic energy source. In view of this, the Japanese government is promoting research and development of fusion technology as a carbon-free energy source and moving towards formulating a nuclear fusion strategy. To support the evolution of the energy market, Sumitomo Corporation launched its Energy Innovation Initiative (“EII”) in April 2021, and made the “development and deployment of carbon-free energy” one of the key strategies. Through this investment in TAE, Sumitomo Corporation will deepen its understanding of fusion power generation technology with the goal of leveraging its experience and business network to apply this resource across multiple markets and industries, helping to the decarbonization of society.

“We look forward to being a partner in bringing TAE’s clean energy solutions to the Asian market, which will be paramount in supporting local economies without impacting our planet,” said Sandro Hasegawa, Managing Director, Energy Innovation Initiative Americas at Sumitomo Corporation Of Americas. “We are excited to support TAE’s breakthrough fusion technology to create safe and sustainable sources of energy across multiple industries and applications.”

Since 1998, TAE has strived to provide economical and environmentally friendly hydrogen-boron fusion. Its fifth-generation Norman reactor was unveiled in 2017 and designed to hold plasma steady at 30 million degrees Celsius. After five years of experiments to optimize Norman’s performance, the machine proved capable of maintaining a stable plasma at over 75 million degrees Celsius, 250% higher than its initial target. TAE’s approach differs from other nuclear fusion technologies in development because of its unique combination of plasma physics and accelerator physics. Additionally, TAE’s preferred fuel source, based on abundant hydrogen-boron, will have no environmental impact, particulate emissions, radioactivity or fuel shortage.

Fusion reactions are the same source of energy found on the Sun. TAE’s technology recreates this reaction to produce non-radioactive energy, creating the fastest, most practical and economically competitive solution to bringing abundant carbon-free energy to the grid. TAE’s Copernicus Reactor is designed to demonstrate the viability of net power generation with TAE’s advanced beam-driven field inversion (FRC) configuration – the penultimate step on TAE’s path to commercializing the clean fusion energy.

“The caliber and interest of our investors validates our significant technical progress and supports our goal to begin fusion commercialization by the end of this decade,” said Michl Binderbauer, CEO of TAE Technologies. “Global energy demand is increasing exponentially and we have a moral obligation to do everything we can to develop a safe, carbon-free and economically viable basic power solution.”

About TAE Technologies
TAE Technologies (pronounced TAE) was founded in 1998 to develop commercial fusion power with the cleanest environmental profile. The company’s pioneering work represents the fastest, most practical and cost-competitive solution to bringing abundant clean energy to the grid. With 1,800 patents filed worldwide and more than 1,100 granted, $1.2 billion in private capital raised, five generations of national laboratory-scale devices built and two more in development, and an experienced team of more than 400 employees, TAE is now poised to deliver this transformational power source capable of sustain the planet for thousands of years.

The company’s breakthrough technologies have produced a strong portfolio of commercial innovations in large adjacent markets such as energy management, energy storage, transmission, electric mobility, life sciences, etc. . TAE is based in Californiaand has international offices in the UK and Swiss. Multidisciplinary and mission-driven in nature, TAE leverages proprietary science and engineering to create a bright future.

For more information, visit tae.com; for interviews contact [email protected]

About Sumitomo Corporation of Americas
Founded in 1952 and based in New York City, Sumitomo Corporation of Americas (SCOA) has eight offices in major US cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. As an integrated business enterprise, the company has become a major organizer of multinational projects, a shipper of ideas, a major international investor and financier, and a powerful force for product distribution and global communications through a network of offices. in the whole world. Its main business units include Tubular Products, Environment and Infrastructure, Steel and Non-Ferrous Metals, Transportation and Building Systems, Chemicals and Electronics, Media and IOT Applications, real estate, mineral resources and energy, and food. For more information, visit www.sumitomocorp.com

SOURCE Sumitomo Corporation of Americas