Torus Power Secures $67M in Equity Fundraising Round
Summary
The company has completed a successful equity fundraising round totaling $67 million and expanded its Board of Directors.Based in Utah, 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.The company explains that it plans to deepen its energy solutions portfolio in the commercial and large-scale utility sectors as well as add important talent to the team.This financing round in new equity, conversion of outstanding notes, and a loan facility, was led by Origin Ventures, a venture capital firm known for supporting software and hardware companies powering the Digital Native economy, Torus reports.The financing also received contributions from investors including Epic Ventures, Cumming Capital, the Larry H. Miller Company, Zions Bank, Pelion and ICONIQ.As a custom integrator, lighting is in demand. Effective communication, education and showcasing the value proposition of LED light fixtures in conjunction with integrative control systems are the keys to overcoming challenges and closing sales in this specialized market. Effective communication, education and showcasing the value proposition of LED light fixtures in conjunction with integrative control systems are the keys to overcoming challenges and closing sales in this specialized market. We continue to make significant technical strides in energy storage and management, says Nate Walkingshaw, CEO and founder of Torus.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 enables the commercial or industrial sectors to sustain operations via short- and long-duration demand response profiles.