Musk acquires mobile power company APR Energy, with a deal valuation of at least about $1 billion

PANews July 20 news: According to TechRepublic, Elon Musk recently acquired mobile power company APR Energy, with a deal valuation of at least about $1 billion. According to regulatory filings, Duos Technologies sold its 5% non-voting shares in New APR Energy, earning a net gain of $50.4 million, implying that the company’s overall valuation exceeds $1 billion. APR Energy is headquartered in Jacksonville, Florida, USA. It mainly operates quickly deployable natural gas and diesel generator sets, providing temporary or supplementary power for scenarios such as data centers. The total generating capacity of its units exceeds 1GW, and it can complete deployment of parts of projects within 15 to 30 days. Analysts say this move may be an option for xAI to expand its compute-power infrastructure and reduce reliance on the local power grid, but it will also involve trade-offs in areas such as emissions, compliance, and costs.