Torus (South Salt Lake, UT) secures $200 Million from Magnetar (Evanston, IL) to scale modular hybrid power plants. The investment supports utility partnerships, data center demand, and the buildout of GigaOne, advancing distributed energy infrastructure across the U.S.
South Salt Lake, Utah — September 9, 2025
Torus Inc., a Utah-based full-stack energy platform, has raised $200 million from Magnetar, an alternative asset manager, headquartered in Evanston, Illinois. The funding will accelerate deployment of Torus’ modular power plants for utilities, data centers, and commercial and industrial customers across the U.S.
A New Kind of Power Plant
Torus builds inertia-based hybrid energy systems that pair mechanical flywheels with battery storage, controlled by enterprise-grade software and security. Units can sit at the grid edge or onsite at customer facilities, responding to grid signals in milliseconds. Linked together, they form a distributed “grid operating system” — a potential alternative to centralized generation.
Utility Partnerships
Torus has secured regulatory and technical approvals to work with regulated utilities and is expanding its partnership with PacifiCorp. A new memorandum of understanding covers up to 500 MW of demand response capacity, following a 70 MW deal signed earlier this year that filled in six months. The commitments cover Utah, Oregon, Washington, Idaho, Wyoming, and Northern California.
Customers Beyond Utilities
Industrial and commercial customers adopting Torus systems include Varex, PWDR Resorts, Ash Grove Cement, and Salt Lake City International Airport. These deployments target reliability in operations where uptime is critical.
Meeting Data Center Demand
With AI and cloud computing driving electricity demand, data centers are emerging as a major growth market. Torus’ hybrid solution promises faster response and higher uptime than battery-only systems, offering millisecond-scale inertia and 99.9% availability.
Scaling Production
Founded in 2021, Torus has grown from a prototype in Springville, Utah, to a 40,000-square-foot facility producing more than 400 MW annually. Next up: GigaOne, a 540,000-square-foot manufacturing campus in Salt Lake City, slated to scale to more than one gigawatt per quarter within three years. Part of the Magnetar investment will support the buildout.
“With this investment, we’re building the world’s first distributed utility — small inertial power plants that deliver grid-scale performance at the edge,” said Nate Walkingshaw, Torus CEO and co-founder. “Our technology has already been deployed more than 230 times this year, with over 1 GW of managed power.”
“Torus is at the forefront of redefining energy infrastructure,” said Dave Snyderman, Managing Partner at Magnetar. “This investment will allow the company to accelerate its growth and bring this new utility model to market at scale.”
“Torus has built one of the most compelling distributed utility platforms we’ve seen,” added Neil Tiwari, Managing Director at Magnetar, who is joining Torus’ board. “The architecture is reliable, it scales, and it arrives at a moment when AI and electrification are driving unprecedented demand.”
About Torus
Torus is developing hybrid inertial-battery power systems that provide the stabilizing services of conventional power plants — without combustion or chemicals. Its technology helps utilities, data centers, and enterprises strengthen the grid, integrate renewables, and meet rising energy demand. TIME named the Torus Spin one of the Best Inventions of 2024, and the company won a 2025 R&D 100 Award. torus.co
About Magnetar
Founded in 2005, Magnetar is an alternative investment manager with over $26 billion under management (AUM), investing across credit, fixed income, systematic, and venture strategies. The firm is headquartered in Evanston, Illinois, with offices in New York, London, and Menlo Park.
To learn more, visit torus.co.