Capricorn Investment led a $38m Series A funding round in Heron Power.

Capricorn Investment, a sustainable investment platform, led a $38m Series A funding round in Heron Power, a California-based startup that is developing advanced, solid-state power electronics to transform the electric grid, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, JB Straubel, and Zach Kirkhorn. "We’re at an inflection point where clean, abundant energy is ready to come online—but grid interconnection challenges hold us back. Heron Power aims to bridge that gap. With electrification on a path to triple electricity demand and AI’s exponential need for power, we're moving fast on the opportunity to modernize the grid with more capable hardware," Drew Baglino, Heron Power Founder and CEO.