TAR raises $120m at a $1bn valuation to build off-grid power for AI
TAR has raised a $120m Series A led by Spark Capital at a $1bn post-money valuation. The Austin company builds off-grid power systems for AI data centres. The company announced the round on Thursday.
Prior investors Buckley Ventures and Align Fund also took part, Bloomberg reported. Spark Capital is an investor in Anthropic, Bloomberg noted.
What TAR builds
TAR says it builds self-contained, modular systems of renewable energy generation and batteries in West Texas. According to the release, its systems do not connect to the grid.
Co-founder Pat Becker told Bloomberg the systems combine solar, batteries and backup natural gas generators. Gas will be used only for backup or emergencies, he said, with renewables and batteries providing most of the energy. “We can deploy in a matter of months,” Becker told Bloomberg.
The company says it handles every step itself, from site selection and design to procurement, construction and...
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