Drew Baglino, a prominent former Tesla executive, has embarked on a new venture with his startup, Heron Power, which is focused on the development of solid-state transformers for the electric grid, as reported by Axios. The company aims to raise between $30 million and $50 million in its Series A funding round, with Capricorn Investment Group expected to lead this initiative.
Baglino’s impressive career at Tesla began in 2006, predating Elon Musk’s tenure as CEO. Over the years, he ascended the ranks, playing a crucial role in designing the powertrain for the inaugural Model S and overseeing engineering for Tesla’s battery storage solutions. He ultimately achieved the position of senior vice president of powertrain and energy before departing from Tesla in April 2022, coinciding with the company’s decision to reduce its workforce by 10%.
With Heron Power, Baglino aims to revolutionise an aging component of the electrical grid that has remained stagnant for more than a century. Traditional transformers have not evolved much over time and are predominantly manufactured overseas. In contrast, solid-state transformers offer enhanced capabilities, adeptly managing fluctuations in voltage derived from renewable energy sources like solar and wind. These innovative transformers are smaller, allow for swift transitions between different power sources, and can be actively monitored, thereby enhancing the stability of the grid.
Heron Power is not alone in its pursuit of modernising the transformer sector. Singapore-based startup Amperesand is also exploring the market, currently seeking Series A funding after successfully completing a $12.5 million seed round in early 2024. Similar to Heron Power, Amperesand boasts a leadership team comprised of former Tesla employees.
Through Heron Power, Baglino is poised to bring much-needed innovation to the electrical grid, potentially contributing to a more efficient and resilient energy landscape.
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