TMTG to merge with TAE Technologies in $6bn deal creating one of the first public fusion energy companies
Trump Media & Technology Group (TMTG) is set to merge with fusion-energy firm TAE Technologies in a deal valued at over $6 billion (~£4.4 billion), creating one of the world's first publicly traded fusion companies.
Following completion, ownership will be split evenly with 50% held by each company. The combined entity's nine-member board will include Devin Nunes as co-CEO along with Donald Trump Jr.
The newly formed group plans to begin constructing the world's first utility-scale fusion power plant next year, with additional plants set to follow.
Trump Media will provide up to $200 million in cash at completion, with an additional up to $100 million after the transaction is registered.
TAE Technologies supplies advanced energy storage and power-delivery technologies relevant to batteries and electric vehicles. Its umbrella entity, TAE Life Sciences, focuses on developing cancer therapies. Notable backers include Google and Goldman Sachs.
This deal reflects a strategic shift for Trump Media, moving away from its traditional domains of social media and finance into the energy sector.
Historically, Trump Media has reported advertising revenue but posted a Q3 loss of $54.8 million amid declining revenue.
