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West Midlands based Spirit Power acquired by TAE Technologies as it sees growth in EV

25 January 2023
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TAE Technologies, the world's largest private fusion energy company, has formed a new subsidiary, TAE Power Solutions and acquired West Midlands-based Sprint Power, one of the largest transport electrification specialists in Europe,

Spun out from California-based 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 the company says it is a foundational step toward mass onboarding of electric vehicles and deployment of intermittent renewable energy as dispatchable power.

TAE Power Solutions has also acquired Towcester-based Eltrium, a design and manufacturing company specialising in the production of energy storage systems, power distribution, and electronic assemblies.

Kedar Munipella, CEO of TAE Power Solutions, said: “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.

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 billion.


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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