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The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook
TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.
The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.
The fresh capital will mostly be deployed to commercialize TAE`s power management technology, which is used for electrical grid applications and faster charging of electric vehicles, the company said.
Google-backed TAE Technologies raises $280 million from new, existing investors
Reuters | Apr 08, 2021 09:45 PM EDT
The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, (Photo : REUTERS/Charles Platiau/File Photo)
TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.
The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.
TAE Technologies hits fusion milestone, attracting $280m funding theiet.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theiet.org Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
FILE PHOTO: The logo of Google is seen on a building at La Defense business and financial district in Courbevoie near Paris, France, September 1, 2020. REUTERS/Charles Platiau/File Photo
(Corrects to remove inaccurate company descriptor from headline. Also corrects paragraph 3 to say that the company plans to use the funds for further work related to nuclear fusion)
(Reuters) - TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said on Thursday it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.
The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.