Heron Power
Building solid-state transformers to modernize the electrical grid for AI and EVs.
- Founded
- 2024
- Headquarters
- Scotts Valley, CA
- Latest Round
- Series B
- Est. Valuation
- ~$800M
Investment Thesis
Heron Power is an energy infrastructure company founded by Drew Baglino, an 18-year Tesla veteran. The company develops solid-state transformer technology that replaces century-old grid transformer designs with modern power electronics, critical for AI data centers and EV charging.
The company has raised $183 million total. Its Series B of $140 million, co-led by a16z and Breakthrough Energy Ventures, will fund a 40-gigawatt automated U.S. manufacturing facility.
America's electrical grid relies on transformer technology from the 1970s that takes 2–3 years to replace, while AI data centers and EVs are driving demand that legacy hardware simply can't handle.
Solid-state transformers using software-defined power electronics that are smaller, more efficient, and can be mass-manufactured — replacing century-old grid equipment at a fraction of the lead time.
Surging demand from AI data centers, EV charging, and renewable integration has made the grid bottleneck impossible to ignore — and power electronics finally enable a semiconductor-based replacement.
80+ GW of grid-connected experience, working next-gen hardware prototypes, $183M raised including a16z and Breakthrough Energy Ventures, and a 40 GW automated U.S. factory planned.
Drew Baglino (CEO, 18-year Tesla veteran, former SVP of Powertrain and Energy who invented the power electronics behind Tesla's Megapack and Powerwall) leads a team of deep energy hardware engineers.