Ex-Tesla executive signs letter of intent with Stargate's Crusoe
Drew Baglino
has signed letters of intent to sell technology designed to address the AI boom's biggest bottlenecks: aging infrastructure and a
transformer shortage
.
Baglino, chief executive officer and founder of
Heron Power Electronics
Co., said his company has inked preliminary deals with firms including
Crusoe
, which is developing OpenAI's
Stargate
site.
Traditional transformers, which adjust voltage levels, are essential for transmitting and distributing electricity to anything that requires power. A shortage of transformers globally has caused long project delays and stymied the buildout of cheap renewables, just as power demand has skyrocketed.
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Heron Power's device eliminates the need of traditional transformers. The company's devices will be able to connect renewables, batteries and even data centers to the grid while also help stabilize energy flow.
'Using power electronics to modernize the medium voltage electrical stack is a critical solution to help Crusoe drive down costs and increase power efficiency in our AI factories,' Chase Lochmiller, Crusoe's cofounder and CEO, said in a statement late Tuesday.
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Baglino helped shape Tesla's powertrain, battery and energy product strategy. It's 'certainly possible' Heron will work with Tesla's own energy business in the future, he said in an interview on Bloomberg Television.
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Last year was 'the beginning of the energy storage wave, and I expect
Tesla Energy
to continue to grow quickly,' he said.
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