USA — Ekhbary News Agency
Elon Musk, the tech mogul, discreetly acquired APR Energy, a medium-sized fossil fuel company, back in May, a move confirmed by documents filed with the Federal Trade Commission. This acquisition, for what it's worth, contrasts sharply with his past public statements regarding the profitability of carbon-producing industries.
Musk's Quiet Energy Sector Foray
Undocumented by any public announcements from Musk's various ventures, the acquisition of APR Energy, a company specializing in mobile gas-powered turbines for electricity generation, proceeded quietly. Electrek, a specialized publication, estimated the company's value at approximately $1 billion. Furthermore, APR Energy's CEO bio indicates a workforce of 800 employees, signifying a substantial operation.
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Past Statements and Present Actions
This recent acquisition appears to diverge from Musk's earlier sentiments expressed in a 2014 interview, where he criticized capitalism's failures for making fossil fuels profitable due to the absence of a carbon emissions price. He had previously secured permits for dozens of gas turbines to power data centers supporting AI innovations like Grok. The FTC filings clearly identify Elon Musk as the individual acquirer, not entities like SpaceX, highlighting a personal investment in traditional energy infrastructure.
