Drew Baglino, the former Senior VP of Powertrain and Energy at Tesla, is raising $30 to $50 million in Series A funding for his startup, Heron Power, which focuses on producing advanced transformers for electrical grids. This funding round may attract significant investment interest due to Baglino's industry reputation. The startup intends to manufacture solid-state transformers in the U.S. amidst rising demands for sustainable electricity solutions and is poised to impact energy generation significantly as global AI data centers grow.
"If he opened a taco stand there'd be significant interest. He's an A plus player." -Anonymous source on former Tesla SVP Drew Baglino trying to raise funding for a new startup.
Heron is set to produce next-generation transformers for electrical grids, and as power-intensive AI data centers become more common, they're considered to be in somewhat short supply.
The transition to sustainable electricity generation alone will require a three- to five-fold increase in global electricity generation and consumption.
The funding round is likely to be led by Capricorn Investment Group, which is an impact investment firm that's particularly focused on sustainability and energy projects.
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