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Leading private fusion energy company with $1.3B+ raised; closed a $150M round in June 2025 backed by Google and Chevron, and announced a $6B+ merger with Trump Media in December 2025.
TAE Technologies is the world's most-funded private fusion energy company, founded in 1998 by Norman Rostoker and Michl Binderbauer and headquartered in Foothill Ranch, California. The company is developing a compact, hydrogen-boron fusion reactor — a "field-reversed configuration" approach — that promises carbon-free energy without radioactive waste, using abundant and widely available fuel. Unlike most fusion companies that pursue deuterium-tritium reactions, TAE's hydrogen-boron approach, if achieved, would produce energy primarily as direct electricity rather than through steam turbines, potentially offering higher efficiency. TAE has also developed commercial power management technology used in electric vehicles and cancer treatment systems that generate near-term revenue while fusion R&D continues.
Zephyr Fusion is developing compact fusion reactor technology for industrial heat applications, targeting decarbonization of manufacturing and process industries. HQ: San Francisco.
Zephyr Fusion is an early-stage nuclear fusion company targeting the decarbonization of industrial heat — the process heat used in steel mills, cement plants, chemical facilities, and other heavy industries that collectively account for approximately 20% of global CO2 emissions. While most fusion programs target electricity generation, Zephyr's approach focuses on delivering high-temperature heat (>1000°C) directly to industrial processes, potentially displacing fossil fuel combustion in applications where electrification is difficult or impossible. The company is developing a compact fusion device designed for co-location with industrial facilities.
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