# Source: Torus $200M Magnetar Investment

**Type:** source
**Status:** Useful
**Confidence:** Medium
**Source Type:** Press Release
**URL:** https://www.torus.co/news/torus-raises-200-million-from-magnetar-deployment-of-modular-power-plants
**Publisher:** Torus Inc.
**Accessed:** 2026-06-18
**Updated:** 2026-06-18

## Summary

Torus's September 9, 2025 announcement that it raised $200 million from Magnetar to accelerate deployment of its modular hybrid flywheel-plus-battery power plants and to scale its GigaOne manufacturing campus in Salt Lake City.

## Useful Claims

- Torus was founded in 2021 and grew from an initial prototype in Springville, Utah into a 40,000-square-foot facility producing more than 400 MW annually.
- The company is building GigaOne, a 540,000-square-foot manufacturing campus in Salt Lake City, with stated intent to scale to more than 1 GW per quarter within three years.
- Torus describes its product as small, inertia-based hybrid systems combining mechanical flywheels with batteries, responding to grid signals in milliseconds and linkable into a distributed "grid operating system."
- Secondary coverage (Mercom) names the two flagship products as Nova Spin (flywheel) and Nova Pulse (LFP battery), and notes a prior $67M equity-and-debt round in 2024 led by Origin Ventures.
- Company materials cite a TIME Best Invention of 2024 award (Torus Spin) and a 2025 R&D 100 Award.

## Reliability Notes

This is a company press release plus trade aggregation. Treat funding amount, investor identity, facility square footage, and stated production targets as company claims, not independently audited figures. Production-scale targets ("1 GW per quarter") are forward-looking aspirations, not delivered capacity. The 2021 founding date here conflicts with an internal note suggesting ~2018; the company's own 2021 date is used on the venture page with the discrepancy flagged.

## Related Pages

- [Torus](torus.md)