Heron Power Secures $38M Series A Funding - Grid Technology Innovation

Heron Power Secures $38 Million in Series A Funding

Heron Power, a startup concentrating on advancements for the electrical grid and established by Drew Baglino, previously of Tesla, revealed Thursday that it has successfully obtained $38 million in a Series A funding round.

Solid-State Transformer Development

The company is dedicated to the creation of solid-state transformers. These innovative devices are projected to be significantly smaller and exhibit a faster response time compared to traditional, analog transformers that have been in use for over a century.

Transformers are essential components within the electrical grid infrastructure. Their primary function is to regulate voltage levels, increasing or decreasing them as electricity is distributed throughout the network.

Focus on Medium-Voltage Applications

Heron Power’s efforts are specifically directed towards medium-voltage transformers. This encompasses a diverse array of potential uses.

• Large substations with secure perimeters.
• The ubiquitous green cabinets commonly seen in residential areas.

Deployment Timeline and Partnerships

Heron Power anticipates commencing initial installations in early 2027. The company is actively collaborating with prominent developers in the energy and data center sectors.

Investment Details

Capricorn Investment Group spearheaded the funding round. Additional participants included Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, and Valor Equity Partners.

Notably, Tesla co-founder JB Straubel and former Tesla CFO Zach Kirkhorn also contributed to this investment round.