Latest news with #Torus
Bloomberg
a day ago
- Business
- Bloomberg
Qube to Merge Two Hedge Funds Into a Pool Worth Over $20 Billion
Qube Research & Technologies is merging two of its largest hedge funds into one money pool with more than $20 billion in assets. The London-based investment firm will combine the Torus and Prism hedge funds by the end of the year, according to people with knowledge of the matter. The firm debated the idea for some time and took the step because it's more efficient to run and allocate capital in a single fund, one of the people said, asking not to be identified because the details are private.
BBC News
6 days ago
- General
- BBC News
'Dickensian conditions' in rat-infested flats in Sandbach
People living in a residential block in Cheshire which has an infestation of rats have said they are living in "Dickensian" of Valley Court in Sandbach said there were rats throughout the building and also raised concerns about fire doors which do not close and security Fernay, who lives with his 10-year-old son in the building, said he wanted those who own the building to "realise that we're not just numbers in flats, these are families".Housing association Torus, which owns the building, apologised and said a "comprehensive approach" would be taken to resolve the issues. Mr Fernay and his son moved into the flats in March and said they were "really happy" but soon faced issues with rats."It started after we've been here about four weeks, and first heard it behind the oven and the extractor fan," he said, adding he thought it was a bird initially."I banged the oven and a head of a rat popped out from behind the oven," he said in recent days he also found a dead rat on the floor of his living room.A pest control officer was sent out who said the issue in his apartment was from a large hole underneath his sink, but filling it would involve ripping out the a meeting with the housing association on Wednesday, Mr Fernay said the work had added he was also told by a pest controller that the complex's rat problems had been caused by a collapsed drain."Surely these are urgent cases? What is more urgent than a rat infestation when there's children around it?" he added he had hired a carpet cleaner and was "constantly bleaching everywhere"."You shouldn't be having to be living like this. It's 2025 and it's Dickensian," he said. Dale Hunter lives on the top floor of the said although he hadn't had rats in his apartment, he had heard them underneath the floor and had other issues with the moved in in May 2024 but found out that due to an issue with his meter, he was paying for a neighbour's bill as well as his, and is still waiting for an accurate his biggest concern is fire safety in the building, as a number of the fire doors do not close."If you look at the door outside my apartment, it stays open. The floor isn't straight, so when you push it a bit too far, it catches," he said."I'm extremely embarrassed of where I live, unfortunately I'm not in a financial situation to put myself into private." Cath Murray-Howard, the chief operating officer at Torus, said: "We are really sorry for the distress this has caused our tenants and the unpleasant conditions they have had to live in; it is clear we have fallen far short of our expected standards in this said the company had tried numerous tactics to rid Valley Court of the problems, and a "comprehensive approach" would now be taken."A full clean-up will also be carried out and once finished, we will monitor the works going forward so the issues do not return," she said."Tenants have been incredibly patient and we thank them for this and we will be keeping them updated..."Once again, we apologise and want to assure them we are committed to fixing these problems as quickly as possible." Read more Cheshire stories from the BBC and follow BBC Stoke & Staffordshire on BBC Sounds, Facebook, X and Instagram.
Business Wire
15-07-2025
- Automotive
- Business Wire
Ultion Technologies Secures Series A Funding to Build Critical U.S. Battery Manufacturing Capacity
LAS VEGAS--(BUSINESS WIRE)--Ultion Technologies, the only fully integrated U.S. maker of advanced lithium iron phosphate (LFP) battery cell technology and energy storage systems shipping at scale today, closed a Series A funding round led by Torus, a Utah-based pioneer in full-stack energy storage solutions, with participation from additional mission-aligned investors, including Nevada state-sponsored venture capital program Battle Born Venture, which is overseen by the Governor's Office of Economic Development (GOED). The investment directly addresses America's critical battery supply chain vulnerability, with more than 70% of global battery production currently concentrated in Asia and 90% of battery processing occurring outside the U.S. Ultion offers a direct solution by providing domestically manufactured, commercially proven LFP batteries that reduce dependence on foreign imports and improve supply chain resilience. "Every battery imported from outside the U.S. is a missed opportunity for American jobs and a vulnerability in our energy security," said Dr. Johnnie Stoker, CEO and founder of Ultion Technologies. "This funding proves not only that American-made batteries can compete with imported batteries in performance and cost — but that our proven cell technology and deep industry expertise position Ultion to lead America's growing energy storage market." Dr. Stoker and Ultion's core founding team have been building batteries together for more than two decades and across multiple continents. Past experiences include building six of the earliest lithium battery factories internationally in countries such as China, Finland, Ireland and the United States. "As both an investor and customer, we understand the risks of depending on overseas battery suppliers," said Nate Walkingshaw, co-founder and CEO of Torus. "Ultion's proven, domestically produced batteries give us unmatched reliability, shorter lead times and the ability to innovate without international supply chain delays." Ultion's Nevada facility produces advanced LFP batteries from a predominantly domestic supply chain with near-term plans to achieve fully domestic sourcing. The Series A funding will enable Ultion to scale domestic production capacity more than fivefold, creating high-quality American manufacturing jobs. Wood Mackenzie projects more than $1.2 trillion in global battery energy storage investment by 2034 to support the rise of grid-forming renewables. Without dramatic growth in domestic battery production, the vast majority of that economic value will flow overseas. Ultion is uniquely positioned to build a vertically integrated battery manufacturing ecosystem in the U.S., leveraging its proven cell technology, deep industry expertise and steadfast commitment to American manufacturing. About Ultion Technologies Ultion Technologies is building American battery independence from its vertically integrated Nevada manufacturing facility. As one of the only U.S. companies producing LFP cells and packs at scale with a path to achieve a fully domestic supply chain, Ultion delivers high-performance battery systems for grid storage, medical, industrial, and defense and aerospace applications. The company's commitment to U.S. manufacturing enables superior quality, faster delivery and complete supply chain security. Learn more at About Torus Torus builds smart, secure mini-power plants that combine flywheel energy storage, generation, security and management in a single platform. Torus solutions serve utilities, commercial and industrial facilities, data centers and defense installations. Headquartered in South Salt Lake, Utah, Torus is transforming how communities generate, store and share energy. Learn more at
Yahoo
25-03-2025
- Business
- Yahoo
Utah company granted commercial energy storage approval
Utah-based solar energy company Torus last week joined exclusive company when it was certified as one of only two commercial battery providers to pass Rocky Mountain Power's testing standards for the Wattsmart Battery Program. The program allows residential and commercial customers to let Rocky Mountain Power manage qualified solar and battery setups while also providing the customer with an up-front enrollment incentive and ongoing bill credits. "Commercial-scale energy storage is a necessary piece of the grid of the future, and Torus' solutions have demonstrated their ability to integrate within the Wattsmart battery ecosystem," Bill Comeau, vice president of customer experience and innovation at Rocky Mountain Power, said in a statement. "The Wattsmart program creates a more flexible and resilient grid while saving customers money, and Torus has proven their innovative systems can deliver." The approval builds on a January memorandum of understanding between the power company and Torus to develop a 70-megawatt demand response initiative capable of powering the equivalent of approximately 20,000 homes using Torus' Nova technologies. And both of Torus' recent dealings with Rocky Mountain Power fall into Utah Gov. Spencer Cox's initiative to double the state's power production over the next decade. "This energy storage partnership is a great example of Utah's leadership in innovative energy solutions," Cox said in a statement. "As we double our power production capacity over the next decade through Operation Gigawatt, we're making sure Utah continues to be a net energy exporter. This collaboration between Rocky Mountain Power and Torus demonstrates how we'll achieve these ambitious goals." Last week's certification enables commercial and industrial customers to harness Torus' energy storage solutions, providing critical capabilities including power quality management, uninterruptible power supply with sub-250 millisecond failover (a system designed to switch over to a backup or standby system within 250 milliseconds in case of a primary system failure), long-duration backup and on-site generation integration with automated dispatching. "We made sure that Torus' systems met the highest technical and operational standards. This certification represents a major step forward in embedding energy storage as a core asset in the modern grid," Dave Rackham, CXO of embedded systems at Torus, said in a statement. The approval from Rocky Mountain Power positions Torus to scale commercial solar deployment across the entirety of PacifiCorp's territory, helping businesses reduce energy costs and improve grid resilience while also providing more sustainable energy for the future. 'Being one of only two approved commercial battery providers by Wattsmart is a testament to our relentless focus on quality, performance and grid-scale impact,' Nate Walkingshaw, CEO and co-founder of Torus, said in a statement. 'This milestone reinforces our commitment to pioneering energy storage solutions that deliver real value to businesses and the grid alike.'
Yahoo
07-02-2025
- Business
- Yahoo
Rocky Mountain Power, Torus Will Deploy Grid-Scale Energy Storage Program
Torus and Rocky Mountain Power, following the recent signing of a memorandum of understanding (MOU), on Feb. 7 released additional technical details about the integration of Torus's commercial energy storage technology into Rocky Mountain Power's Wattsmart Battery program. The proposed 70-MW demand response initiative will leverage Torus's Nova Spin and Nova Pulse technologies to enhance grid reliability. Torus is based in South Salt Lake, Utah. The company's Nova Spin flywheel energy storage system was recently recognized in TIME's Best Inventions of 2024 list. The partnership between Torus and Rocky Mountain Power will support Utah's Operation Gigawatt initiative, which is designed to double Utah's power production over the next 10 years and expand Torus' demand response capabilities, deploying technology that provides: Sub-250 millisecond response time with 99% system uptime. Real-time frequency regulation maintaining 60 Hz stability. Voltage support for both 208V and 480V three-phase power. Nova Spin has a C-rating 10x higher than traditional chemical batteries. The project is expected to be completed within 12-18 months. Up to twice the operational lifespan of conventional battery systems. Rocky Mountain Power is featured in the Department of Energy's latest VPP Liftoff Report, which highlights the Wattsmart program as a best-in-class battery virtual power plant (VPP), providing both bulk system level value and distribution system value for grid and customers. "This technical implementation demonstrates how our relationship with Rocky Mountain Power will deliver both grid resilience and energy security," said Nate Walkingshaw, CEO of Torus. "As highlighted in the DOE VPP Liftoff Report, demand response programs are crucial for managing grid challenges while reducing costs." "Enhancing and expanding the Rocky Mountain Power system is the key to meeting Utah's energy future,' said Dick Garlish, president of Rocky Mountain Power. 'Collaborating with innovative leaders in technology and energy, like Torus, is essential to meet the goals of Operation Gigawatt.' The Torus capabilities will help create a VPP that can support Utah's ambitious economic growth plans while contributing to the DOE's goal of deploying 80-160 GW of VPPs nationwide by 2030. For Utah's expanding base of data centers and industrial facilities, the Torus technology will provide: Power quality management through Nova Sync frequency conditioning. Uninterruptible Power Supply (UPS) functionality with sub-250ms failover. Long duration backup through hybrid flywheel-chemical storage systems. On-site generation integration with automated dispatching. Real-time performance monitoring across millions of data points. Predictive maintenance through AI-driven systems analysis. The implementation includes comprehensive security features essential for critical infrastructure: Nova Shield hardware security for critical commands. 24/7 cybersecurity monitoring and threat detection. Secure firmware developed and maintained in U.S. facilities. Integration with existing utility management systems via secure APIs. SCADA integration using APIs for seamless control. Torus's energy storage systems are designed, engineered, and manufactured in the U.S. The company's manufacturing capabilities include: More than 50,000 square feet of manufacturing space supporting end-to-end Nova Spin production and Nova Pulse assembly. An engineering team with decades of combined experience in grid and commercial-level energy systems, power electronics, and advanced manufacturing. Complete control over supply chain and production processes. The combination of domestic manufacturing, advanced grid security features, and proven VPP capabilities has positioned Torus as a leader in grid-scale energy storage. Operation Gigawatt supports Utah's continued economic growth, and Torus' technology is a model for supporting grid resilience. —POWER edited this content, which was contributed by Torus' public relations team.
