Oxy Low Carbon Ventures (OLCV), a subsidiary of Occidental (NYSE: OXY), and TAE Technologies, a global leader in fusion energy development, today announced they have signed a memorandum of understanding to explore commercial opportunities that use TAE’s fusion technology to provide emissions-free power and heat for Direct Air Capture (DAC) facilities.
TAE Power Solutions’ new offices in Dudley will be a battery prototype-and-test facility to develop, validate, and industrialize modular battery packs for e-mobility and energy storage.
TAE Technologies, the world's largest private fusion energy company, today announces the formation of TAE Power Solutions, a new subsidiary. TAE Power Solutions intends to deliver a first-of-its-kind technology to fundamentally improve the reliability, efficiency, longevity, and affordability of electric-powered products, from vehicles to renewable energy storage.
Twenty five years ago TAE Technologies was founded with the singular purpose of developing commercially viable, economical, carbon free fusion energy. Steeped in the promise of theory and led by the vanguard of plasma physics scientists, we targeted fusion—and continue to make advancements there daily.
Discoveries made in pursuit of nuclear fusion have potentially huge practical applications in everything from curing cancer to superior batteries for EVs.
Historically, the patient had to be taken to a nuclear reactor and exposed to the neutrons from its core. Hardly ideal. Now, the problem is all but solved. A key innovation from TAE’s fusion programme has been the creation of compact particle accelerators that can be used to generate tightly focused neutron beams. In fusion they are used to fuel the reactors.
To meet TAE Technologies' needs for its experimental fusion device, Norman, the company came up with a solution — one that would involve a bespoke power supply system using a combination of algorithms and hardware. The same kinds of fluctuations required for a fusion reactor, TAE realized, were similar to the fluctuations in demand needed in electric mobility and for energy storage applications. TAE, in meeting Norman’s requirements, took it a step further, developing a spinoff called TAE Power Solutions.
The move allows the parent company to focus on its fusion, and the new entity to focus on its battery technology for vehicles and renewable storage facilities.
With more than a dozen companies working on different designs to trigger and control fusion reactions, researchers have also come up with innovative systems that can be used in applications from medicine to industrial imaging to electric vehicles. Creating businesses around these products can generate revenue now that will help support the end-goal of a fusion power plant, said Michl Binderbauer, chief executive officer of TAE Technologies Inc.
Nuclear fusion could transform the world's energy system, our lives and our homes. The global energy crisis is clear evidence that we must keep investing in it.
This new policy will help push the electric vehicle revolution into overdrive
As we transition to a carbon-free society we need to transform the way we power and manage the grid. Changing the way we distribute energy can help flatten the demand curve.