From the CEO: “Modular power plants are the future”

Very excited to share some big news today. Torus has raised $200 million from Magnetar. You can read the full press release here, but I want to share a few details. First and foremost, this investment is extremely important to deploying our modular power plants into the field faster for utilities, data centers, and C&I that need reliable, scalable  and secure power.

So what are modular power plants? Our Torus Stations  sit right where power is needed, at the edge of the grid or on-site at a facility. The magical combination of  flywheels, batteries, chipsets and cyber security appliances allows us to  respond in milliseconds, and stay online with 99.9% uptime. This year we have been deployed by our utility partners  nearly every day to assist them with frequency and voltage support plus assisting our customers with peak shaving, emergency back-up and power quality concerns

Companies from all kinds of industries are adopting Torus, everything from cement plants and resorts to agriculture and international airports. — Nate Walkingshaw, Torus CEO and Co-founder

Anyone following energy knows that demand for electricity has never been higher. AI, cloud computing, and electrification are all driving record growth. Companies from all kinds of industries are adopting Torus, everything from cement plants and resorts to agriculture and international airports.

That’s why we’re so proud to be helping our partner PacifiCorp meet this demand. We’ve already delivered on the 70-megawatt agreement we announced earlier this year, and now we’re expanding the partnership to cover 500 additional megawatts of demand response. What we’re building works, and it benefits both utilities and their customers.

We’re also thrilled to partner with Magnetar. They understand this moment and what it takes to scale essential infrastructure, especially for data centers. We’re welcoming Neil Tiwari, Managing Director at Magnetar, to our board. Neil brings deep experience in energy and technology, and his perspective will be a huge help as we grow.

We’re also expanding into GigaOne, our new 540,000-square-foot campus. Within three years, we expect to be producing more than a gigawatt of capacity every quarter. This is a huge step up for us, and that scale is what it will take to keep the grid resilient, affordable, and secure for the long run. 

Here’s to some exciting new chapters, and a big thank-you to our customers, the Torus team, and everyone who has believed in this mission.

– Nate