Torus, an energy technology company based in Utah, has raised $200 million in funding from Magnetar, a principal alternative asset manager. This investment will help Torus rapidly expand its innovative modular power plants across the United States. These systems are designed to support utilities, data centers, and industrial facilities by providing reliable, scalable, and secure energy—especially as demand surges due to artificial intelligence and electrification.
Unlike traditional power plants that rely on combustion or chemical batteries, Torus builds compact hybrid systems that combine mechanical flywheels with battery storage. These units are capable of responding to changes in power demand within milliseconds. They can be installed directly at facilities or at the edge of the power grid. When linked together, they form a distributed network that acts like a smart operating system for electricity. This approach enables more flexible and resilient energy infrastructure, particularly in areas where uptime is crucial.
Torus has already made significant progress with utility partnerships. Earlier this year, the company signed a 70-megawatt agreement with PacifiCorp, which was filled in just six months. Now, Torus is expanding that relationship through a memorandum of understanding that could cover up to 500 megawatts of demand response capacity. These agreements span multiple states, including Utah, Oregon, Washington, Idaho, Wyoming, and Northern California, and represent some of the most significant commitments to American-made energy storage solutions.
In addition to utilities, Torus is working with a range of commercial and industrial clients. Companies like Varex Imaging, Ash Grove Cement, PWDR Resorts, and Salt Lake City International Airport have adopted Torus systems to ensure a consistent power supply for operations where even brief outages can be costly. The technology is particularly well-suited for data centers, which are experiencing rapid growth due to the rise of AI and cloud computing. Torus systems help these facilities manage dynamic energy loads while maintaining near-perfect uptime.
To meet growing demand, Torus is scaling up its manufacturing capabilities. The company currently operates a 40,000-square-foot facility in Springville, Utah, which produces more than 400 megawatts of systems annually. It is now preparing to open a much larger campus called GigaOne in Salt Lake City. This new facility will span 540,000 square feet and is expected to produce over one gigawatt of systems per quarter within three years. A portion of the new funding will be used to support the buildout of GigaOne and expand Torus’ team.
Founded in 2021, Torus has quickly moved from prototype to commercial deployment. Its technology has already been installed more than 230 times this year, managing over one gigawatt of power across various facilities. The company’s goal is to create a new kind of utility—one that is distributed, responsive, and built for the challenges of modern energy demand.
KEY QUOTES:
“With this investment, we’re building the world’s first distributed utility — connecting small inertial power plants that deliver grid-scale performance at the edge. Our technology has already been deployed more than 230 times this year with over 1GW of facility managed power, proving it’s no longer experimental but essential.”
Nate Walkingshaw, CEO and co-founder of Torus
“Scaling transformative, capital-intensive industries requires more than technology — it requires patient, flexible capital. Torus is at the forefront of redefining energy infrastructure, and this investment will allow the company to accelerate its growth and bring this new utility model to market at scale.”
Dave Snyderman, Managing Partner and Global Head of Alternative Credit & Fixed Income at Magnetar
“Torus has built one of the most compelling distributed utility platforms we’ve seen. The architecture is reliable, it scales, and it’s coming to market at a time when demand from AI and electrification is surging. We’re excited to leverage our experience investing in high-performance data centers and AI infrastructure to support Torus’ proven team as it builds the grid of the future.”
Neil Tiwari, Managing Director at Magnetar, who will be joining Torus’ Board of Directors
