Fusion-focused TAE Technologies launches subsidiary in EV, storage push
Private fusion energy company TAE Technologies has launched a subsidiary, TAE Power Solutions, in a push into the EV and renewable energy storage markets.
The subsidiary is expected to expand TAE’s footprint, which until now has been marked by its proprietary fusion technology.
The launch announcement included the acquisition of UK companies Sprint Power and Eltrium which, for TAE Power Solutions, is a strategic move to ensure the fledgling company has roots in new markets.
Sprint Power consists of transport electrification specialists in Europe with a focus on electrical systems integration and high voltage driveline, whereas Eltrium, a design and manufacturing company, specialises in the production of energy storage systems, power distribution and electronic assemblies. Details on the acquisitions have not yet been announced.
Through these acquisitions, the California-based company with 250+ staff gains a foothold in existing projects, including APC18 CELERITAS, a programme for advanced battery systems with BMW and other project partners.
TAE Power Solutions is developing partnerships for commercialisation in the emobility and stationary markets to extend range, efficiency, performance and faster charging of Electric Vehicles (EVs), as well as for deployment in residential, commercial, industrial and utility-scale electrical grid applications.
Michl Binderbauer, CEO of TAE Technologies, commented on the new company, which he sees as “a one-stop shop [for]…power distribution, electrified transportation, and renewable energy storage for our growing carbon-free energy needs.”
Kedar Munipella, TAE Power Solutions CEO, commented on the opportunities presented by a power management division to bring TAE’s fusion tech into new applications and markets:
“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.”
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Ironing out Power Solutions’ place
The new company follows TAE’s development of a modular energy and power delivery solution, one they state had not before existed. The solution, according to TAE, can incrementally scale and discharge with bi-directional power on a sub-millisecond time scale.
TAE Power Solutions was thus formed in the hopes of leveraging these capabilities beyond fusion.
To do so, TAE Power Solutions has developed proprietary intelligent AC power (ACi) and Converter Battery Module (CBM) technology that features energy storage and power electronics with the aim of unlocking greater efficiency and performance from modern power systems.
For the past several years, TAE Technologies has been working with Marelli, a Tier 1 automotive components supplier, on the value proposition of Power Solutions technologies.
Marelli’s chief technology and innovation officer, Joachim Fetzer, stated how their work with the power company focuses on three key factors for broad EV adoption: “increased vehicle range, faster charging and better overall vehicle value.”
TAE Power Solutions is the second subsidiary created by TAE Technologies in its diversification efforts. The first was TAE Life Sciences, which leverages TAE’s accelerator technology for the investigation of a promising, previously inaccessible cancer treatment.
