Shares of Trump Media & Technology Group (DJT +3.44%) surged on Thursday after the company announced a $6 billion merger with TAE Technologies.
By the close of trading, DJT's stock price was up more than 40%.
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Trump Media's cash could propel TAE Technologies' scientific advances
The union would combine Trump Media's substantial financial resources with TAE's advanced technology to create one of the world's first publicly traded fusion power companies.
Under the terms of the deal, TMTG will provide up to $300 million in cash to fund TAE's development projects. TAE brings more than 1,600 patents, an experienced scientific team, and respected CEO Michl Binderbauer, who will serve as co-CEO of the combined company along with Trump Media CEO Devin Nunes.
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The potential for limitless energy
The merged enterprise plans to begin construction on the world's first utility-scale fusion plant with a projected 50 Megawatts of electrical power, subject to regulatory approval.
"We're excited to identify our first site and begin deploying this revolutionary technology that we expect to fundamentally transform America's energy supply," Binderbauer said in a press release.
Fusion power has the potential to produce clean, safe, and nearly limitless energy by replicating the atom-merging processes that fuel the Sun. Yet despite decades of scientific studies, the technology remains unproven.
Still, fusion proponents are optimistic that advances will continue to be made in the coming years.
"Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s -- an innovation that will lower energy prices, boost supply, ensure America's A.I.-supremacy, revive our manufacturing base, and bolster national defense," Nunes said.
