The Technology Impact Fund of Capricorn Investment Group led the $38 million Series A funding round, which was also attended by Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn, according to Heron Power.
© 2025 The Volt Post. All rights reserved. Unauthorized use or reproduction of this image is strictly prohibited.
With this round, Heron Power has raised $43 million in total capital. With scalable, dependable, and software-integrated infrastructure, the company is creating industrial power electronics specifically designed for the grid of the twenty-first century, accelerating the growth of the electrical industry.
The additional funds will be used by Heron Power to grow its workforce and finish engineering the Heron Link, a solid-state transformer that will replace outdated power converters and transformers.
Over the last decade, technologies like solar, batteries, and data centers have scaled faster than anyone imagined—growing from a few gigawatts in 2014 to more than 500 GW in 2024, equivalent to roughly two-thirds of the U.S. peak demand. But while energy technologies have leapt forward, the equipment connecting them to the grid hasn’t changed in a century.
The large, antiquated medium-voltage transformers (MVTs) of today are constructed for a one-way, analog grid using 10 tons of grain-oriented electrical steel and copper that have been soaked in oil.
Today’s outdated medium-voltage transformers (MVTs) are massive, built with 10 tons of grain-oriented electrical steel and copper submerged in oil, and designed for a one-way, analog grid.
About Heron Link, The Company’s Very First Product
The Heron Link, the company’s very first product, connects straight to medium voltage and eliminates the need for a legacy transformer. Based on the most recent developments in wide-bandgap semiconductors, it is a modular megawatt-scale power converter.
For developers of data centers, energy storage, and renewable energy sources, it provides increased dependability and reduced costs because to its high power density and ease of maintenance. Heron Link also improves grid stability with integrated voltage and frequency management, preventing cascading outages such as the one that occurred in Spain in early 2025.
Heron Power has alliances with leading datacenter and energy developers. The company intends to produce Heron Link in the United States and hopes to launch an internal pilot in 2026, followed by partner installations in early 2027.
Over the last ten years, the team has built and implemented more than 80 gigawatts of grid-connected power electronics, bringing extensive technical expertise to the table.
Leadership Comments
“We’re at an inflection point where clean, abundant energy is ready to come online—but grid interconnection challenges hold us back,” said Drew Baglino, Founder and CEO of Heron Power. “Heron Power aims to bridge that gap. With electrification on a path to triple electricity demand and AI’s exponential need for power, we’re moving fast on the opportunity to modernize the grid with more capable hardware.”
© 2025 The Volt Post. All rights reserved. Unauthorized use or reproduction of this image is strictly prohibited.
“Power electronics innovation brings the power of ‘Moore’s law’ to energy,” said Dipender Saluja, co-managing partner of Capricorn’s Technology Impact fund. “For two decades, we’ve sought out and invested in transportation, aviation, electronics, materials and energy companies with innovative power electronics at the core of their products. Heron Power’s team is singularly impressive: they have the technical depth, execution experience, and clarity of intention to reinvent utility-scale power electronics.”
