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Heron Power has raised $140 million in Series B funding to develop solid-state transformers for data centers and the electrical grid. This follows a $38 million Series A round in May, driven by customer demand for over 40 gigawatts of transformers.

The funding round was led by Andreessen Horowitz's American Dynamism Fund and Breakthrough Energy Ventures. Heron Link transformers will replace traditional iron-core transformers, offering enhanced efficiency by managing power from diverse sources.

The company plans to build a factory capable of producing 40 gigawatts annually, starting pilot production in early 2027. Data centers currently comprise a third of Heron Power's business, with the rest focused on solar power and grid-scale batteries.