Drew Baglino, former Tesla executive, is seeking $30 to $50 million in Series A funding for Heron Power, a new startup focused on next-generation transformers for electrical grids. The venture aims to address the growing demand for efficient energy solutions, especially with the rise of AI data centers. Capricorn Investment Group is likely to lead the funding round, which could significantly elevate Heron’s valuation due to Baglino's strong industry reputation. The startup plans to manufacture solid-state transformers domestically, competing in a sector that requires substantial advancements in energy generation.
If he opened a taco stand there'd be significant interest. He's an A plus player.
Heron is set to produce next-generation transformers for electrical grids, as power-intensive AI data centers become more common.
The transition to sustainable electricity generation alone will require a three- to five-fold increase in global electricity generation and consumption.
Heron is planning to manufacture solid-state electrical transformers within the U.S., though the sector is fairly competitive with startups.
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