Finance
Google-backed TAE Technologies forms JV with UK's nuclear agency (Dec 2)
Published by Global Banking & Finance Review®
Posted on December 2, 2025
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 2, 2025
2 min readLast updated: January 20, 2026
TAE Technologies forms a joint venture with the UK nuclear agency to advance nuclear fusion, with a 5.6 million pound investment in TAE Beam UK.
(Corrects Dec. 2 story to say pounds not euros, and changes USD conversion figure, in paragraph 2)
Dec 2 (Reuters) - TAE Technologies, a private company backed by Alphabet's Google and Chevron, said on Tuesday it had formed a joint venture with the United Kingdom's nuclear agency to develop neutral beams for nuclear fusion.
Under the agreement, the UK Atomic Energy Authority will make an equity investment of 5.6 million pounds ($7.47 million) in the new venture called TAE Beam UK.
Nuclear fusion is a nascent technology that aims to generate electricity by harnessing the process that powers the sun. It offers the vision of abundant energy without pollution, radioactive waste or greenhouse gases.
With nuclear power garnering renewed interest, countries such as Italy, the UK, China and the U.S. are looking into nuclear technology firms to enable application across industries including healthcare and defense.
TAE Technologies said the partnership will enable it to develop and commercialize next‑generation neutral beam systems for fusion and related applications in a more cost‑effective manner.
The company added that it will design, develop and manufacture neutral beams for fusion, while adapting its accelerator technology for cancer therapy, food safety and homeland security.
"Together, we're building critical infrastructure for the fusion supply chain and ensuring that the U.S.-UK partnership can together remain central to the fusion economy of the future," CEO Michl Binderbauer said.
The project is expected to deliver the first short-pulse beams within 18 to 24 months, the company said.
($1 = 0.7501 pounds)
(Reporting by Dharna Bafna in Bengaluru; Editing by Shreya Biswas)
Nuclear fusion is a process that generates energy by combining atomic nuclei. It is the same reaction that powers the sun and has the potential to provide a nearly limitless source of clean energy.
A joint venture is a business arrangement in which two or more parties agree to pool their resources for a specific project or business activity, sharing profits, losses, and control.
An equity investment involves purchasing shares of a company, giving the investor ownership rights and a claim on a portion of the company's assets and earnings.
Neutral beams are streams of uncharged particles used in nuclear fusion research to heat plasma and improve confinement, aiding in the development of fusion energy.
The UK Atomic Energy Authority is a public body responsible for the development and promotion of nuclear fusion and related technologies in the UK.
Explore more articles in the Finance category
