- Atom Power, a company that is developing circuit breakers, distribution panels, and software, announced it raised $17.75 million
Atom Power, a company that is developing circuit breakers (Atom Switch), distribution panels (Atom Panel), and software (Atom OS), announced that it raised $17.75 million in Series B funding. The investors in the Series B round of funding included Valor Equity Partners, Rockwell Automation (NYSE: ROK), the venture capital unit of ABB Ltd (NYSE: ABB) ABB Technology Ventures, and Atreides Management. Including this funding round, Atom Power has raised $23 million in total funding.
With circuit interruption capabilities up to 150,000-amps, a single Atom Switch replaces the need for over 100 products used in commercial power today and mitigates explosions from electrical faults like never before.
Last year, Atom Power’s digital circuit breaker was the first of its kind to be listed by UL. And it brings power distribution to the digital age for the first time. Atom Power’s circuit breakers intelligently manage the flow of power with software and semiconductors along with connecting unlimited power sources into one point. Plus it dynamically switches between them based on need.
This round of funding will equip Atom Power to develop the next generation digital circuit breaker, scale its intelligent power management platform, and address the world’s need for integrating renewables into the grid thus building more efficient data centers and supporting other sustainable energy initiatives.
Going forward, Atom Power will apply its technology via advanced e-mobility to dramatically shift how electric vehicle charging infrastructure is deployed through inherent demand management that saves energy and costs.
“Modern life is increasingly digital, yet the electrical infrastructure powering our buildings has remained decidedly analog. This poses huge challenges for supporting a smooth transition to electrification, renewable energy, and electric vehicles,” said Ryan Kennedy, PE, CEO at Atom Power, Inc. “We need technology that gives us digital control over when and how we use power. Last year, we made huge strides when we introduced the first solid-state circuit breaker to market, and we’re thrilled to continue building a future where energy is faster, safer, and more reliable than ever.”
