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Musk Buys Fossil Fuel Firm, Hiding Deal
16 Jul
Summary
- Elon Musk privately acquired a $1 billion fossil fuel energy company.
- The acquired firm, APR Energy, specializes in mobile gas turbines.
- The deal occurred without a public announcement or press release.
In a move kept from public view, Elon Musk individually acquired APR Energy, a company specializing in mobile gas turbines for electricity generation. The deal, estimated to be worth around $1 billion, was reportedly finalized in May. APR Energy boasts approximately 800 employees and operates internationally, providing power solutions through its fleet of gas turbines.
This significant acquisition by Musk, who previously commented on the financial incentives of carbon-intensive industries due to a lack of carbon pricing, occurred without any official announcement or press release. Searches on the APR Energy website yielded no results for Musk, indicating a deliberate effort to maintain discretion surrounding the transaction.
The timing of this acquisition, which occurred recently, contrasts with Musk's past public statements about the environmental and economic implications of fossil fuel reliance.
