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Fusion Leader TAE Unveils Power Management Spinoff

TAE Technologies <> , the world’s largest private fusion
energy company, today announces the formation of a new subsidiary, TAE Power
Solutions <> .

Spun out from TAE Technologies, 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. The proprietary technology platform is
derived from fusion research, and is a foundational step toward mass
onboarding of electric vehicles and deployment of intermittent renewable
energy as dispatchable power.

The company launches with a world-class team of industry leaders, including
Kedar Munipella, who has been appointed Chief Executive Officer. Munipella
joins TAE Power Solutions from Applied Materials, a Fortune 200 company
where he spent 16 years, most recently as Vice President and General Manager
of a business unit dedicated to energy and environmental solutions.

In addition, TAE Power Solutions has made two strategic acquisitions in the
UK to fortify its entry into new markets: Sprint Power
<> , one of the largest transport
electrification specialists in Europe, focusing on electrical systems
integration and high voltage driveline, and Eltrium
<> , a design and manufacturing company specializing
in the production of energy storage systems, power distribution, and
electronic assemblies. Through these acquisitions, TAE Power Solutions gains
an early foothold in existing projects, including APC18 CELERITAS
<> , a program for
advanced battery systems with BMW and other project partners.

The combined workforce of over 250 professionals, headquartered in both the
US and the UK, brings deep domain expertise and long-standing OEM
relationships, positioning TAE Power Solutions to become a market leader in
emerging power management technologies.

“Spinning off TAE’s power management division is an extraordinary
opportunity to bring the bold innovations of fusion-derived technology into
new applications with profound impact,” said Kedar Munipella, CEO of TAE
Power Solutions. “We expect our significant improvements to electric vehicle
battery life, performance, and cost, along with the ability to convert wind
and solar into on-demand sources of energy, will transform the future of
electrification, creating opportunities for unprecedented efficiencies in
e-mobility and energy storage.”

New Ecosystem for Energy
The path to Power Solutions began with TAE solving a power problem for
fusion. The local grid near the company’s headquarters in Southern
California provides 2 MW of power, while its fifth-generation fusion
research reactor, Norman, operates at up to 750 MW. To support the company’s
groundbreaking scientific research, TAE needed an extremely scalable energy
storage and power delivery system – one that could be deployed in the future
to support integration of commercial fusion power.

With no existing technology available in the market, TAE developed a modular
energy and power delivery solution that can incrementally scale and
discharge with highly flexible, efficient, and accurate bi-directional power
on a sub-millisecond time scale.

To leverage these unique capabilities beyond fusion, TAE Power Solutions
developed proprietary intelligent AC power (ACi) and Converter Battery
Module (CBM) technology that features fully integrated energy storage and
power electronics to unlock greater efficiency and performance from modern
power systems.

Partnerships Pushing Ahead
TAE Power Solutions is now developing partnerships for rapid
commercialization in both the e-mobility and stationary markets to extend
range, efficiency, performance, and faster charging of electric vehicles, as
well as for deployment in residential, commercial, industrial, and
utility-scale electrical grid applications for superior affordability and
lifetime value.

For the past several years, TAE has been working with Marelli, one of the
world’s largest Tier 1 automotive components suppliers, to validate the
unique value proposition of TAE Power Solutions technologies.

“As a global technology leader in the automotive industry, it’s a priority
for Marelli to continue driving innovation forward, and with TAE Power
Solutions we found an ideal partner in this perspective,” said Joachim
Fetzer, Chief Technology and Innovation Officer of Marelli. “Our work with
TAE Power Solutions over the years has focused on strongly improving the
three crucial factors for broad EV adoption: increased vehicle range, faster
charging, and better overall vehicle value. With the final aim to make EVs
perform better, drive farther, last longer, and be more affordable, this
collaboration enables Marelli to be in the role of co-creating with its
customers the vehicles of the future.”

Continued Growth, Groundbreaking Leadership

TAE Power Solutions is the second subsidiary created by TAE Technologies
from innovations developed for fusion research. The first was TAE Life
Sciences, <>  which leverages TAE’s proprietary
accelerator technology for clinical investigation of a promising, previously
inaccessible cancer treatment.

TAE is addressing the manufacturing and supply challenges inherent in
building any new technology ecosystem in part by commercializing spinoff
technologies derived from the beams and power management components in the
fusion device.

“TAE Power Solutions is the perfect alignment of talent, technology, and
market resources to serve our growing power needs and realize TAE’s goal of
creating a complete, clean energy ecosystem,” said Michl Binderbauer, CEO of
TAE Technologies. “With Kedar’s strategic and operational vision, along with
our new expanded workforce, TAE Power Solutions is becoming a one-stop shop
to deliver a revolutionary approach to power distribution, electrified
transportation, and renewable energy storage for our growing carbon-free
energy needs.”

The launch of TAE Power Solutions is the latest in a list of significant
milestones for TAE Technologies. In 2022, the company announced
>  it had exceeded its fusion reactor performance goals and had closed
a $250 million financing round from investors Google, Chevron, and Sumitomo
Corporation, among others, bringing its total raised to date to $1.2

About TAE Power Solutions
TAE Power Solutions <>  (pronounced T-A-E)
is a proprietary technology platform that is accelerating the transition to
an electrified world with a first-of-its-kind energy storage and power
delivery system. This technology unlocks a complete clean energy ecosystem,
including more affordable and efficient storage; ultrafast charging
capabilities; electric vehicle powertrains; peak shaving; buffering; and
second life of batteries.

TAE Power Solutions is now adapting the same technology invented to power
TAE’s fusion energy program forbusiness-to-business solutions for your car,
home, or business.

About TAE Technologies
TAE Technologies <>  (pronounced T-A-E) was founded in 1998
to develop commercial fusion power with the cleanest environmental profile.
The company’s pioneering work represents the fastest, most practical, and
economically competitive solution to bring abundant clean energy to the
grid. With over 1,800 patents filed globally and over 1,100 granted, $1.2
billion in private capital raised, five generations of National
Laboratory-scale devices built and two more in development, and an
experienced team of over 500 employees, TAE is now on the cusp of delivering
this transformational energy source capable of sustaining the planet for
thousands of years.

The company’s revolutionary technologies have produced a robust portfolio of
commercial innovations in large adjacent markets such as power management,
energy storage, electric mobility, fast charging, life sciences, and more.
TAE is based in California, and maintains international offices in the UK
and Switzerland. Multidisciplinary and mission-driven by nature, TAE is
leveraging proprietary science and engineering to create a bright future.

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