Heron Power Secures $38M to Revolutionize Electrical Grid Transformer Technology

Heron Power, an innovative startup focused on transforming electrical grid technology and founded by ex-Tesla executive Drew Baglino, has successfully closed a $38 million Series A funding round. This investment signals strong confidence in the company’s vision to modernize key grid components.

The company is set to revolutionize conventional electrical grid transformers using cutting-edge solid-state technology. Traditional analog models, which have been in use for over a century, are set to be replaced by Heron Power’s more compact and responsive solid-state transformers.

Transformers are crucial components of the electrical grid, responsible for stepping voltage up and down as electricity moves through the system. Heron Power is concentrating on medium-voltage transformers, which are applicable in various settings, from major substations to the green metal boxes seen in residential areas.

According to Heron Power, the first installations are targeted for early 2027. The company is also collaborating with significant energy and data center developers to deploy its technology.

The Series A round was led by Capricorn Investment Group, with additional investment from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn. The diverse group of investors indicates a broad interest in the potential of Heron Power’s technology to reshape the energy sector.