Key Takeaways
- Elon Musk APR Energy acquisition quietly brought Jacksonville-based APR Energy under Musk’s ownership through an undisclosed transaction.
- SEC filings suggest the acquisition is valued at at least $1 billion.
- The deal expands Musk’s energy portfolio and supports growing AI infrastructure needs.
Elon Musk has acquired Jacksonville-based APR Energy, according to a Federal Trade Commission filing that surfaced after the deal closed, adding a rapid-deployment power generation company to his expanding energy and artificial intelligence business portfolio.
Federal Trade Commission records show Musk acquired New APR Energy LLC through a transaction that received early termination on May 14, allowing the purchase to proceed without additional antitrust review. Neither Musk nor APR Energy has publicly announced the acquisition or disclosed financial terms.
The FTC filing, listed as transaction No. 20261350, identifies Musk as the acquiring party and CF APR Super Holdings LLC as the acquired party, with New APR Energy LLC named as the acquired entity.
SEC Filing Suggests $1 Billion Valuation
The value of the Elon Musk APR Energy acquisition became clearer through a separate filing with the Securities and Exchange Commission.
Duos Technologies Group Inc. disclosed in a May 28 SEC filing that it sold its five percent nonvoting stake in New APR Energy LLC for net proceeds of $50.4 million. Based on that transaction, the overall deal is estimated to be worth at least $1 billion.
APR Energy is headquartered in Jacksonville’s Deerwood Park South area and specializes in modular power generation systems that can be deployed quickly. According to the company’s website, it provides temporary and permanent power solutions for utilities, industries and data centers worldwide.
The company says it has completed projects in more than 35 countries, generated more than 50 terawatt-hours of electricity and can deploy projects in as little as 15 to 30 days. It also says its power systems are designed to support high-density graphics processing units and artificial intelligence workloads for hyperscale data centers.
Fortress Investment Group acquired APR Energy’s assets in late 2024. After that transaction, the company became New APR Energy while continuing to operate under the APR Energy brand.
Duos Technologies also said Fortress entered into a two-year agreement for the company to manage and deploy APR’s assets as it expanded into energy services for data centers.
Deal Expands Musk’s Energy Portfolio
Neither Musk nor Tesla has commented publicly on the Elon Musk APR Energy acquisition.
The purchase strengthens Musk’s presence in the energy sector by adding a company focused on rapidly deployable power generation. The acquisition complements Tesla’s energy business, including its grid-scale Megapack battery storage products, while potentially supporting the growing energy demands of xAI’s artificial intelligence infrastructure.
For Jacksonville, the Elon Musk APR Energy acquisition keeps APR Energy headquartered in the city while transferring ownership to one of the world’s wealthiest entrepreneurs. The company continues to operate from its Jacksonville headquarters as the transaction becomes public through federal regulatory filings.
Visit Enterprise Wired For The Most Recent Information.
