Trump Media to merge with TAE Technologies, creating one of the first publicly-traded fusion companies
The Truth Social parent company and TAE's more-than $6 billion merger will blaze the path toward America’s dominance in AI, executives tell Fox News Digital
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FOX Business' Lauren Simonetti has the details from Asburn, Virginia, on 'The Big Money Show.'
EXCLUSIVE: Trump Media & Technology Group Corp. is joining with TAE Technologies—the world’s premier fusion power company—representing a more-than $6 billion merger to blaze the path toward America’s dominance in artificial intelligence and energy security, Fox News Digital has learned.
The move creates one of the first publicly traded fusion companies.
TRUTH SOCIAL PARENT COMPANY TRUMP MEDIA & TECHNOLOGY GROUP TO BECOME PUBLICLY TRADED COMPANY
President Donald Trump’s social media business became publicly listed as "DJT." (Photo by Anna Barclay/Getty Images / Getty Images)
TMTG, the parent company of Truth Social, and TAE announced the signing of a definitive agreement to combine an all-stock transaction valued at more than $6 billion. Under the agreement, TMTG, TAE, and TAE’s subsidiaries will combine under one umbrella.
TMTG CEO Devin Nunes and CEO of TAE, Dr. Michl Binderbauer are expected to serve as co-chief executive officers of the combined company. Michael Schwab, the founder and managing director of Big Sky Partners is expected to be named chairman of a planned nine-member board of directors.
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Current TMTG stockholders will own approximately 50% and current TAE stockholders will own approximately 50% of the combed company on a fully diluted equity basis.
In 2026, the newly-combined company plans to site a location and begin construction on the world’s first utility-scale fusion power plant, subject to required approvals. Fox News Digital has learned that additional fusion power plants are planned.
Devin Nunes, CEO of Trump Media & Technology Group, during the Conservative Political Action Conference (CPAC) in Dallas, Texas, US, on Friday, Aug. 5, 2022. (Dylan Hollingsworth/Bloomberg via Getty Images / Getty Images)
Fusion plants provide "economic, abundant, and dependable electricity that will help America win the A.I. revolution and maintain its global economic dominance," the company said.
TAE’s fusion technology has been researched and developed for more than 25 years, and has been able to significantly reduce reactor size, cost and complexity.
TAE has built and safely operated five fusion reactors and raised more than $1.5 billion in private capital to date.
"Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations," Nunes told Fox News Digital. "Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s—an innovation that will lower energy prices, boost supply, ensure America’s AI-supremacy, revive our manufacturing base and bolster national defense."
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Aerial view of Jon Amos Power plant shows smoke stacks and cooling. (Visions of America/Joseph Sohm/Universal Images Group via Getty Images / Getty Images)
Nunes added: "TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability."
Binderbauer told Fox News Digital that TAE’s "talented team, through its commitment and dedication to science, is poised to solve the immense global challenge of energy scarcity."
"At TAE, recent breakthroughs have allowed us to accelerate capital deployment to commercialize our proven fusion technology," he said. "We’re excited to identify our first site and begin deploying this revolutionary technology that will fundamentally transform America’s energy supply."
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DLA Piper LLP is serving as a legal advisor for the merger for TMTG, with Yorkville Securities serving as M&A advisor, and Clear Street serving as financial advisors to TMTG. Barclays is serving as financial advisor for TAE, with Baker Botts LLP serving as TAE’s legal advisor.