Torus, a provider of full-stack energy platforms offering storage, management, security, and generation solutions, has secured a $200m investment from Magnetar to expedite the rollout of its modular power plants.
These plants are intended for utilities, data centres, and commercial and industrial clients throughout the US.
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The funding aims to enhance the deployment of the company’s modular power plants, which are small, inertia-based hybrid energy systems.
These systems merge the power delivery of mechanical flywheels with the extended energy storage capacity of batteries.
They are also equipped with enterprise-grade security and sophisticated software management. Each Torus unit can be positioned at the edge of the grid or directly on-site at a facility, capable of responding to grid signals within milliseconds.
When connected, these units create a distributed grid operating system that provides utilities and businesses with a novel approach to maintaining power that is reliable, scalable, and secure, according to the company.
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By GlobalDataTorus co-founder and CEO Nate Walkingshaw said: “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.”
Data centres, driven by the surge in AI and cloud computing, are among the fastest-growing consumers of electricity.
‘Hyperscale’ entities need to handle the fluctuating demands of AI with both rapidity and dependability, and Torus’ composite technology is designed to outperform conventional systems that rely solely on chemical batteries.
With the capability of true inertia and millisecond response times, along with a 99.9% uptime, Torus is positioned to help operators maintain critical online facilities. Simultaneously, it addresses the needs of utilities at the sub-transmission and distribution levels.
Magnetar managing director Neil Tiwari said: “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 centres and AI infrastructure to support Torus’ proven team as it builds the grid of the future.”
Torus is also expanding its collaboration with the signing of a memorandum of understanding with PacifiCorp for the provision of up to 500MW of demand response capacity.
This expansion builds on a successful 70MW agreement signed earlier in the year, which was completed within six months.
