"Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion. Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer. The combined company says it plans to find a site and begin construction next year on the "world's first utility-scale fusion power plant,""
"TAE focuses on nuclear fusion, a technology that combines two light atomic nuclei to form a single heavier one. It releases enormous amount of energy, a process that occurs on the sun and other stars, according to the United Nations' International Atomic Energy Agency. It's been seen as a promising solution to climate change caused by burning fossil fuels, but one that is a long way off compared to today's clean technologies like wind and solar."
Trump Media & Technology will merge with TAE Technologies in an all-stock transaction valuing the combined company at more than $6 billion. Devin Nunes and TAE CEO Michl Binderbauer will serve as co-CEOs. The combined company plans to secure a site and begin construction next year on a utility-scale fusion power plant aimed at supplying electricity for artificial intelligence. TAE develops nuclear fusion, a process that joins light atomic nuclei to release large amounts of energy like the sun. Shareholders of both companies will each own about 50% of the combined company.
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