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The company behind President Donald Trump’s Truth Social platform is merging with a Google-backed energy company in a deal worth more than $6bn (£4.4bn).
Trump Media Technology Group (TMTG) and TAE Technologies announced the plan in a joint statement on Thursday, saying the move would “create one of the world’s first publicly traded fusion companies.”
Fusion power generation is a method of generating energy using the heat released by nuclear fusion reactions. It can release large amounts of energy with virtually no radioactivity.
The combined company plans to start building “the world’s first utility-scale fusion power plant” next year, with more plants to follow, the statement said.
According to the merger plan, the two companies will have equal 50% ownership after the transaction is completed, which is expected to be completed in mid-2026, pending regulatory and shareholder approval.
TAE Technologies provides energy storage and power delivery system technologies for batteries and electric vehicles. Its umbrella organization, TAE Life Sciences, develops technologies and drugs to treat cancer patients.
The partnership with the company marks a bold and surprising shift for Trump Media as it pivots away from social media and financial products and into energy.
TMTG Chairman and CEO Devin Nunes said his company is “taking a giant step toward revolutionary technology that will solidify America’s global energy dominance for generations.”
He called fusion energy “the most dramatic energy breakthrough” since the 1950s and said his company would bring “capital and public market access” to help commercialize TAE’s technology.
Growing power demands from AI data centers have revived interest in clean and reliable nuclear power, including restarting shuttered reactors, expanding existing reactors and signing contracts for future small modular reactors.
TAE Technologies has raised more than $1.3 billion from other investors including Google and Goldman Sachs, the joint statement said.
