TLDR:
Key Points:
- Torus, Inc. secures $67 million in venture financing to advance energy storage and energy management platform.
- The company plans to use the funds to deepen its energy solutions portfolio and add talent to its team.
Article Summary:
Torus, Inc. has successfully completed an equity fundraising round, raising a total of $67 million in new equity, conversion of outstanding notes, and a loan facility. The financing round was led by Origin Ventures and saw contributions from notable institutional investors including Epic Ventures and Cumming Capital. The company, a global energy solutions provider, designs, engineers, and manufactures energy storage and management products for the residential, commercial, and large-scale utility sectors. The CEO and Founder of Torus, Nate Walkingshaw, expressed excitement for the future and the company’s mission to make renewable energy storage and management accessible to all.
Torus plans to use the funds to expand its energy solutions portfolio in the commercial and large-scale utility sectors and deepen its talent pool. The company offers a virtual power plant ecosystem, advanced energy storage and management systems, a unified customer experience, and innovative Torus Flywheel energy storage. Additionally, Torus welcomed two new board members, David Bywater and Brent Hill, who bring industry expertise and experience to guide the company through its growth phases. The future outlook for Torus looks promising as it continues to innovate in the renewable energy storage market.
