Investment: “Heron Power raises $60M in credit facility”
Heron Power, a Scotts Valley, CA-based provider of power electronics solutions, raised $60M in a credit facility. Backers included J.P. Morgan and TriplePoint Capital.
The financing was provided by J.P. Morgan and TriplePoint Capital.
Led by founder and CEO Drew Baglino, Heron Power builds software-controlled hardware and power electronics purposed for the modern grid.
Its platform enables renewable energy, battery storage and data center developers to connect directly to medium voltage transmission without a transformer.
The company intends to use the funds to convert a facility into a mass production factory and scale operations.
