Google-backed TAE Technologies raises $280 million from new, existing investors

TAE Technologies, a California-based firm building technology to generate power from nuclear fusion, said it had raised $280 million from new and existing investors, including Google and New Enterprise Associates.
The company, which did not disclose its latest valuation, was valued at $2.6 billion after raising funds in May 2019, according to data platform PitchBook. Including the latest funding, TAE has raised $880 million till date.
The fresh capital will mostly be deployed towards further fusion work and a new reactor scale facility, the company said.
Founded in 1998 and formerly known as Tri Alpha Energy, TAE Technologies kept a low profile for years and operated in stealth mode. Over the years, it has drawn the interest of investors including Venrock, brokerage Charles Schwab and the Kuwait Investment Authority.