TAE Technologies Honored by Goldman Sachs for Entrepreneurship

CEO Michl Binderbauer Named One of the Most Exceptional Entrepreneurs at 2022 Builders and Innovators Summit

FOOTHILL RANCH, Calif., Oct. 12, 2022 /PRNewswire/ -- Goldman Sachs (NYSE:GS) is recognizing TAE Technologies CEO Michl Binderbauer as one of the Most Exceptional Entrepreneurs of 2022 at its Builders and Innovators Summit in Healdsburg, California.

Goldman Sachs selected Binderbauer from multiple industries to be honored at the two-day event.

TAE was founded to commercialize a completely safe, sustainable, non-radioactive source of carbon-free energy, capable of meeting humanity's growing energy needs without impacting the environment.

Born in Austria, Binderbauer emigrated to the United States and first joined TAE as Chief Technology Officer in 1998 and was appointed CEO in 2018. Binderbauer is a co-inventor of many of the company's technological advances in fusion energy, power management, and particle accelerators.

TAE operates on a "money-by-milestone" basis, driven by the work of more than 400 experienced employees. The company has been granted more than 1,100 patents and has developed six generations of National Laboratory-scale devices to deliver fusion power to the grid in the early 2030s.

"I am honored that Goldman Sachs is recognizing TAE's role in the coming energy transition," said Binderbauer. "Over the last two decades, TAE has become the industry leader in non-radioactive fusion power and leveraged the company's innovations in fusion research for commercial spinoffs in power management, energy storage, electric mobility, grid efficiency, and fast charging to form the backbone of an electrified clean energy ecosystem."

"We're delighted to recognize Michl as one of the most exceptional entrepreneurs of 2022," said David M. Solomon, Chairman and CEO of Goldman Sachs. "They have made extraordinary contributions to a wide range of fields, and all of us are looking forward to meeting with these innovative thinkers."

In addition to honoring the most exceptional entrepreneurs, the Summit consists of general sessions and clinics led by seasoned entrepreneurs, academics and business leaders as well as resident scholars.

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 400 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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SOURCE TAE Technologies