Authored by Jill McLaughlin via The Epoch Times,
Elon Musk has acquired a power company based in Jacksonville, Fla., paying $1 billion for the mobile gas-turbine provider as a possible solution to data center energy needs.
The Federal Trade Commission (FTC) lists Musk as the acquiring party, with New APR Energy, LLC listed as the acquired entity.
Neither party issued public statements on the deal that closed May 14. Local business news outlet Jacksonville Daily Record first reported on the news in June before it gained national media attention in recent days.
The potential cost of the deal was found in a separate filing with the U.S. Securities and Exchange Commission (SEC) in which Technologies Group reported selling its 5 percent non-voting stake in New APR Energy in a May 28 SEC report.
Duos said its sale generated $50.4 million in net proceeds, which implies the Musk deal was worth at least $1 billion.
Musk continues to invest in artificial intelligence (AI) development with the research company he founded, xAI, and its chatbot Grok.
His xAI company READ MORE AT SOURCE »
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