Tesla alum Drew Baglino’s Heron Power has raised $140M to fix the grid’s transformer shortage. (Canary Media)
Heron wants to bypass the critical shortage of grain-oriented electrical steel by commercializing solid-state transformers (SSTs) that rely on silicon carbide semiconductors—the same supply chain used by EVs.
The startup plans to build a US factory capable of churning out 40 GW of equipment annually by 2027, having already secured 50 GW in orders from major players like Intersect Power and Crusoe.