Torus Raises $67M in Funding


Torus, a Salt Lake City, UT-based energy solutions company, raised $67M in funding.

The round was led by Origin Ventures, with participation from Epic Ventures, Cumming Capital, the Larry H. Miller Company, Zions Bank, Pelion and ICONIQ.

The company intends to use the funds to expand operations, and its energy solutions portfolio in the commercial and large-scale utility sectors, and add talent to its team.

Led by Nate Walkingshaw, CEO and Founder, Torus is a global energy solutions company that designs, engineers, and manufactures energy storage and management products for the residential, commercial, and large-scale utility sectors.

Commenting on the news, Nate Walkingshaw said: “We are thrilled to have Origin Ventures leading this equity financing. We continue to make significant technical strides in energy storage and management. We at Torus are proud to be designing, engineering and manufacturing energy storage and management products here in the U.S. Our strategic partnerships with industry giants like the Rocky Mountain Power ‘Wattsmart’ program and our relationship with Vivint Smart Home, alongside financing allies Sungage and Banterra Bank, are empowering communities to embrace energy storage. This will assist the commercial and utility sectors to physically expand and maintain resilience. This progress marks a major step towards a future where renewable energy storage and management is accessible for all.”

Torus Product Portfolio Overview:

Virtual Power Plant: Torus has innovated a virtual power plant ecosystem that links thousands of energy resources for efficient grid management, collecting extensive data for predictive analytics that enable customers to participate in demand response programs, energy arbitrage and frequency regulation initiatives.

Energy Management: Torus provides an advanced energy storage and management system designed, engineered, and manufactured in Utah. The system integrates a CPU design and uses AI with an enterprise software interface to manage agnostic hardware devices. The management system connects with various third-party products like inverters, batteries, and EV chargers, creating a comprehensive energy solution for all customer segments. 

Unified Customer Experience: Torus’ unified user experience enables customers to personalize any of their energy settings by connecting to a range of renewable energy generation sources and energy storage solutions. Additionally, Torus integrates with multiple software-based energy products like thermostats, EV chargers and Wi-Fi-connected appliances, culminating in an all-encompassing energy management operating system, all accessible through a single, streamlined application. 

Energy Storage: Torus Flywheel™ energy storage is strongly differentiated from chemical batteries because it is 95 percent recyclable, unaffected by ambient temperature fluctuations, and provides a 25-year service life.