U.S.-UAE Joint Leaders’ Statement on Investment in Zap Energy

His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and President Joseph R. Biden Jr. met today at the White House during an official visit of His Highness President Sheikh Mohamed bin Zayed to the United States.  The visit is the first-ever by a President of the United Arab Emirates to Washington and marks the leaders’ fourth bilateral meeting in the Biden-Harris Administration.  The leaders affirmed the enduring U.S.-UAE strategic and defense partnership, bolstered areas of deepening cooperation in advanced technology and investments, and discussed global and regional matters.

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Plynth Energy – a recently established Abu Dhabi government-owned early-stage fund focused on fusion technologies and supply chains – invested in the U.S. company Zap Energy, which plans to build scalable and commercially-viable fusion energy.  This investment will help fund the further development of Zap Energy’s small-format commercial fusion technology. Zap Energy is a participant in the U.S. Department of Energy’s (DOE) Milestone-Based Fusion Development Program, and will receive DOE funding based on reaching development milestones to support the design of a fusion pilot plant.

Read the full statement at WhiteHouse.gov.

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