SOUTH SALT LAKE, Utah — Torus, a leader in smart energy storage solutions, and First Colony Mortgage (FCM), one of the fastest-growing mortgage banks in the nation, announced plans to develop Utah’s largest residential clean energy community, featuring advanced solar and battery storage systems across 650 new homes. This first-of-its-kind partnership combines innovative energy technology with streamlined mortgage financing to make sustainable living more accessible to homebuyers.
The Torus Neighborhood program introduces a hybrid energy model that combines individual home battery systems with community-scale infrastructure. Each home will be equipped with a Torus battery and solar system while sharing access to a centralized solar array and utility-scale storage facility. This approach, available exclusively through approved residential developments, delivers significantly lower costs than traditional individual solar installations while providing improved grid stability and energy independence.
Working in partnership with Rocky Mountain Power’s Wattsmart Battery program, these communities will serve as a model for grid modernization in Utah. The program demonstrates how utilities, technology providers, and financial institutions can collaborate to accelerate the adoption of sustainable energy solutions while maintaining grid reliability.
“This partnership marks a pivotal moment in our mission to transform how communities generate, store, and share energy,” said Nate Walkingshaw, Torus CEO and co-founder. “By combining our innovative energy technology with First Colony’s extensive builder relationships and mortgage expertise, we’re creating new opportunities for homeowners to own their power while contributing to a more resilient energy grid.”
“For nearly 40 years, First Colony Mortgage has been committed to making homeownership accessible to more Americans,” said Corey Shelley, Owner and Chairman of First Colony Mortgage. “This partnership with Torus represents the next evolution of that commitment. By working closely with our extensive network of builders, we’re not just financing homes — we’re helping create sustainable communities that offer homeowners true energy independence and long-term value.”
The partnership delivers significant financial advantages for homebuyers through streamlined financing options that integrate energy infrastructure costs into traditional mortgages. Participants benefit from reduced installation and maintenance costs through economies of scale, while qualifying for local and federal clean energy incentives, including Rocky Mountain Power’s Wattsmart Battery program.
“Our collaboration with Torus represents a unique convergence of award-winning technology and mortgage banking expertise,” said Carine Clark, CEO of First Colony Mortgage. “Through our long-standing builder partnerships, we’re making it easier for homeowners to move into homes that are ready for the future of energy. This initiative demonstrates Utah’s leadership in bringing innovative energy solutions to homeowners while working alongside traditional power providers to improve grid reliability and consumer choice.”
The community-scale approach enables more efficient use of energy resources through shared infrastructure and coordinated demand response programs. This innovative model provides homeowners with improved energy independence and reliable backup power while contributing to overall grid stability. The program’s integrated demand response capabilities allow communities to participate in grid services, generating additional value for homeowners while supporting broader grid reliability initiatives.
About Torus
Torus builds smart, secure mini power plants. Our full-stack solutions for energy storage, management, security, and generation are customized to meet the unique needs of utility companies, commercial and industrial buildings, data centers, and defense facilities. Based in South Salt Lake, Utah, Torus is transforming how communities generate, store, and share energy. Our innovative Nova Spin flywheel energy storage system was recently recognized in TIME’s Best Inventions of 2024 list. For more information, visit torus.co.
About First Colony Mortgage
First Colony Mortgage Corporation has served the lending needs of residents since 1984. As a mortgage lender, First Colony Mortgage offers comprehensive lending services, including processing, underwriting, funding, and closing mortgage loans through conveniently located branches. Their expert team of in-house mortgage professionals ensures efficient and quick loan processing. For more information, visit firstcolonymortgage.com.