Elon Musk appears to have added a Jacksonville energy player to his empire, at least on paper. A Federal Trade Commission filing lists him as the buyer of New APR Energy LLC, the local company known for mobile, fast-deployable power plants. Duos Technologies, which held a 5% non-voting stake in New APR, told regulators it pulled in about $50.4 million from the asset sale. That payout suggests the overall price tag was at least about $1 billion. So far, there has been no public announcement from Musk, APR or Fortress Investment Group explaining what, exactly, just happened.
FTC filing quietly tags Musk as the buyer
An early-termination notice posted in the Federal Trade Commission's Legal Library, transaction number 20261350 and dated May 14, 2026, names "Elon Musk" as the acquiring party and identifies New APR Energy LLC as the acquired entity, according to the Federal Trade Commission. Early termination of the premerger waiting period means the FTC chose not to extend its antitrust review, a routine step the agency says it takes when a deal appears unlikely to substantially lessen competition.
SEC filing from Duos hints at a billion-dollar valuation
Duos Technologies filled in more of the money picture in a Form 8-K filed with the Securities and Exchange Commission. The company reported that substantially all of New APR's assets were sold to a "third party" as of May 26, 2026, and that Duos received net proceeds of about $50.4 million tied to its 5% non-voting interest, according to the Securities and Exchange Commission. The filing also notes that roughly $9.9 million from the sale was placed in escrow for indemnity and other customary obligations.
Jacksonville office move and Fortress role add local intrigue
On the ground in Jacksonville, New APR had reportedly been preparing to move into Centurion Center in Deerwood Park South, an office complex where Duos already has space, according to News4JAX. The same local reporting notes that Fortress Investment Group acquired APR's assets in late 2024. Fortress declined to comment on the latest deal, and Tesla did not respond to media questions about whether the electric vehicle and energy company is connected to the acquisition.
Fast power plants that could pair with batteries and data centers
New APR's business is built around rapid-deployment power plants that can be installed and commissioned quickly. Industry watchers say that kind of plug-and-play generation could match up well with large battery storage projects and power-hungry data centers, including setups involving Tesla's Megapack systems, as reported by the Jacksonville Daily Record. Duos, for its part, has been repositioning toward energy services for data centers, and the cash from the New APR sale represents a major infusion for the Jacksonville company.
Regulatory silence leaves big unanswered questions
The FTC notice ends the agency's formal waiting period, but the commission does not release additional details about premerger submissions beyond those basic entries in its public library, according to the Federal Trade Commission. That lack of detail leaves key contract terms, the buyer's specific plans for the assets and any local permitting implications unconfirmed, and for now the public record is essentially limited to the brief agency notice and the Form 8-K filed by Duos Technologies with the Securities and Exchange Commission.
What Jacksonville should watch for next
For anyone trying to figure out what Musk might actually do in Jacksonville, the breadcrumbs are likely to come in regulatory filings before they show up in a press release. Watch for new SEC exhibits tied to Duos, any fresh permitting activity at Centurion Center and statements from Musk, Tesla, APR or Fortress that would directly address buyer identity and planned operations in the city. Future filings or public comments could clarify whether New APR's assets end up supporting grid projects, data centers or other energy work in Northeast Florida.
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