#United States #J.P. Morgan #Scotts Valley #Zach Kirkhorn #Heron Power

Heron Power Secures Significant Funding

In a bold move to enhance its operational capabilities, Heron Power, an innovative player in the field of power electronics, has announced a new $60 million credit facility. This funding has been secured through a partnership with financial giants J.P. Morgan and TriplePoint Capital, marking a significant step forward for the company.

This new credit facility comes right on the heels of a successful $140 million Series B funding round earlier this year, which was co-led by Andreessen Horowitz's American Dynamism Fund and Breakthrough Energy Ventures. Such investments reflect a growing interest in Heron Power's potential to revolutionize the power electronics space.

Leadership Expansion with Zach Kirkhorn

Adding to this momentum is the appointment of Zach Kirkhorn, the former Chief Financial Officer of Tesla, to the board of directors at Heron Power. Kirkhorn is no stranger to the complexities of scaling a tech company, having played an instrumental role at Tesla during its early profitable years and as it expanded its manufacturing prowess across North America, Europe, and Asia. His perspective will be invaluable as Heron seeks to transition from an engineering-focused entity to a large-scale manufacturing powerhouse.

"A strong balance sheet and bench of advisors is key as we move from engineering to scale," said Drew Baglino, CEO and Founder of Heron Power. The company is currently working on converting a vast 286,000 square foot facility in Morgan Hill, California into what is termed 'Heron Factory One,' with aspirations for mass production to kick off by late 2027.

The demand for Heron Power's innovative products is evident, with the company identifying over 40 gigawatts of interest in its flagship offering, the Heron Link— a 5-megawatt medium voltage power conversion system. This system aims to address critical needs for reliable and scalable power conversion in the face of rising energy demands.

Kirkhorn's Commitment to Heron Power

Kirkhorn has been an advocate for Heron Power since investing in its Series A round in 2025, providing insights on both financial and operational strategies. His long-standing involvement indicates his deep belief in the company's vision and capability.

“Having been with Heron since nearly the beginning, I've seen firsthand the exceptional capability, experience, and pace of execution of this team," Kirkhorn stated. He emphasized the pressing need for modern solutions to the grid and how Heron is positioned to meet this challenge.

Julia Grinshpun, Managing Director of Climate Tech at J.P. Morgan Commercial Banking, echoed this sentiment by highlighting Heron’s pivotal role in addressing modern grid bottlenecks. The investment from J.P. Morgan is expected to catalyze Heron's growth trajectory, particularly as it gears up for the manufacturing phase of its operations.

About Heron Power

Heron Power is committed to crafting advanced hardware to facilitate a better and faster-growing electrical grid. It specializes in scalable and reliable power solutions equipped with software control, enabling developers in renewable energy, battery storage, and data centers to connect directly to medium voltage transmission systems without the need for transformers. The design and manufacturing of Heron's products occur in California, showcasing a blend of electrical engineering expertise and high-volume manufacturing practices.

With this new funding and a strengthened leadership team, Heron Power is on track to make significant advancements in the power electronics arena, poised for a productive future ahead.