On January 24, 2023, TAE Technologies, a privately-held fusion energy company, announced the creation of a new subsidiary, TAE Power Solutions. It is TAE Technologies' second subsidiary developed for fusion research innovations, with TAE Life Sciences being the first.
The subsidiary plans to introduce a novel technology that significantly increases the dependability, longevity, effectiveness, and affordability of electric-powered products, from renewable energy storage to vehicles. The proprietary technology platform, derived from fusion research, is a crucial development in implementing intermittent renewable energy as dispatchable power and the widespread adoption of electric vehicles.
The company is launching with a team of industry experts led by Kedar Munipella, who has been named Chief Executive Officer. Kedar Munipella previously worked at Applied Materials for 16 years, recently serving as Vice President and General Manager of a business unit focused on energy and environmental solutions.
TAE Power Solutions has also made two strategic acquisitions in the UK to boost its entry into new markets: Eltrium, a design and manufacturing company specializing in the manufacturing of energy storage systems, power distribution, and electronic assemblies, and Sprint Power, one of Europe's most prominent transport electrification specialists focusing on electrical system integration and high voltage driveline. These acquisitions allow the company to gain an early foothold in existing projects like the APC18 CELERITAS, a program focused on advanced battery systems with various project partners, including BMW.
TAE Power Solutions' combined workforce of over 250 professionals based in California brings extensive domain knowledge and long-standing OEM relationships, positioning the company to become a leading player in emerging power management technologies.
Kedar Munipella, CEO of TAE Power Solutions, shared, "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." He added, "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."
(Source – PR Newswire)
About TAE Technologies
Headquartered in Foothill Ranch (California), TAE Technologies was established in 1998 to develop commercial fusion power with the lowest environmental impact. The company's pioneering work represents the most efficient, practical, and cost-effective way to bring abundant clean energy to the grid. It aims to deliver a transformational energy source capable of sustaining the planet, with more than 1,100 patents, $1.2 billion raised in private capital, five generations of National Laboratory-scale devices constructed, and an expert team of more than 400 employees. Mission-driven and multidisciplinary by nature, TAE is utilizing proprietary science and engineering to build a better future.