Latest news with #DrewBaglino
Time of India
6 days ago
- Business
- Time of India
Ex-Tesla executive signs letter of intent with Stargate's Crusoe
A startup founded by former Tesla Inc. executive 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. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Marataízes: Quanto vale a sua casa? Descubra agora! Valor da casa | Anúncios de pesquisa Saiba Mais Undo 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. Live Events 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. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Last year was 'the beginning of the energy storage wave, and I expect Tesla Energy to continue to grow quickly,' he said.
Bloomberg
7 days ago
- Business
- Bloomberg
Tesla Alum Targets Grid Transformation with Heron
Long-serving Tesla executive Drew Baglino has launched a new startup to address a major bottleneck in the energy sector transformers. Baglino discusses his company's technology and his experience at Tesla with Caroline Hyde and Ed Ludlow on 'Bloomberg Technology.' (Source: Bloomberg)
Bloomberg
7 days ago
- Business
- Bloomberg
Ex-Tesla Executive Signs Letter of Intent with Stargate's Crusoe
A startup founded by former Tesla Inc. executive Drew Baglino has signed letters of intent to sell technology designed to address one of the artificial intelligence 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 Crusoe Energy Systems, a developer behind OpenAI 's Stargate site, and Intersect Power LLC, which is developing energy plants for Alphabet Inc. 's Google.
TechCrunch
29-05-2025
- Business
- TechCrunch
Tesla alum's Heron Power closes $38M Series A to transform key grid technology
In Brief Heron Power, the electrical grid-focused startup founded by former Tesla executive Drew Baglino, announced Thursday it has raised $38 million in a Series A funding round. Heron Power is developing solid-state transformers, which promise to be more compact and responsive than the century-old analog models. Transformers are key parts of the electrical grid, stepping voltage up and down as it moves through the system. Heron focuses on so-called medium-voltage transformers, which covers a range of possible applications, from large substations behind fences to the green metal boxes found throughout residential neighborhoods. Heron Power said it's targeting initial installations in early 2027, and it's partnering with 'major energy and data center developers.' Capricorn Investment Group led the round, with participation from Breakthrough Energy Ventures, Energy Impact Partners, Gigascale Capital, Powerhouse Ventures, Valor Equity Partners, Tesla co-founder JB Straubel, and former Tesla CFO Zach Kirkhorn.
Yahoo
07-04-2025
- Automotive
- Yahoo
Former Tesla exec Drew Baglino's new startup is rethinking the electrical transformer
Former Tesla executive Drew Baglino has a new startup developing solid-state transformers for the electric grid, Axios reported. The new company, Heron Power, is raising between $30 million to $50 million for a Series A, according to the report, with Capricorn Investment Group pegged to lead the round. Baglino was a longtime employee at Tesla, starting at the company in 2006, two years before Elon Musk took over as CEO. He rose through the ranks, designing the powertrain for the first Model S and leading engineering for Tesla's battery storage products before being named senior vice president of powertrain and energy. Baglino left Tesla last April, the same time the company laid off 10% of its staff. In founding Heron Power, Baglino is tackling a part of the electrical grid that hasn't seen much innovation in over a century. Transformers have been largely unchanged in that time, and having been commoditized, the majority of them are now made overseas. Solid-state transformers are more capable than existing transformers, regulating dips in voltage that might arise from solar panels and wind turbines. They're also a lot more compact, can quickly transition from one source of power to another, and can be actively managed, boosting grid stability. Heron Power isn't the only startup hoping to shake up the transformer market. Singapore-based Amperesand is also in the process of raising a Series A after closing a $12.5 million seed round in early 2024. Like Heron, Amperesand also counts Tesla alumni among its executive ranks. Sign in to access your portfolio
