Torus Raises $200M to Expand Modular Power Plants Across US

Torus Inc., a Utah-based energy company specializing in inertia-based hybrid energy systems that combine mechanical flywheels with batteries, has raised $200 million from Magnetar Capital to accelerate deployment of its modular power plants across the U.S. The technology offers millisecond response times and 99.9% uptime, making it suitable for utilities, data centers, and commercial and industrial customers, particularly addressing energy reliability challenges driven by AI and electrification. Torus’ distributed “grid operating system” allows units to be installed at the grid edge or onsite, providing scalable and secure power delivery as an alternative to traditional lithium-ion battery solutions, which face supply chain constraints. The company has secured regulatory approvals and is expanding partnerships with utilities such as PacifiCorp, and its systems are already deployed with industrial users including Salt Lake City International Airport and Ash Grove Cement. The funding will also support the buildout of GigaOne, a large manufacturing campus in Salt Lake City designed to scale production to more than one gigawatt per quarter within three years. CEO Nate Walkingshaw emphasized that this investment aims to build the world’s first distributed utility, connecting small inertial power plants that deliver grid-scale performance at the edge.