Exowatt has secured an additional $50 million to expand its U.S. manufacturing footprint and accelerate deployments of its Exowatt P3 systems to the rapidly growing network of AI data centers and industrial facilities nationwide. MVP Ventures and 8090 Industries led the financing as an extension of Exowatt’s $70 million Series A round, which was announced in April 2025 and spearheaded by Felicis. Additional participation came from The Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures. Felicis also took part in this extension. The company’s earlier $20 million seed round attracted prominent angel investors, including Sam Altman, CEO of OpenAI, and environmental advocate Leonardo DiCaprio.
The funding brings the company’s total capital raised to $140 million in less than two years, signaling significant momentum behind dispatchable solar technologies as America confronts rapidly escalating electricity demands.
The Miami-based renewable energy company has gained substantial traction with its modular P3 platform, which stores solar energy as heat and converts it into power during peak demand periods and overnight. The design enables controllable, round-the-clock output through systems that can be rapidly sited and scaled near end users. This approach provides critical firm capacity for data centers while decreasing reliance on grid interconnection queues that have slowed energy projects nationwide.
Investor interest reflects a broad market shift as AI computing becomes one of the most significant new drivers of U.S. electricity consumption. Data center power needs are projected to rise by 150% by 2030, and Exowatt aims to position dispatchable solar as a scalable, American-made solution to support that growth. The company reports a commercial pipeline with more than 90 gigawatt hours of demand spanning developers, operators, and major U.S. data center customers.
Exowatt plans to accelerate domestic manufacturing and scale deployments of its P3 systems across key regions where AI infrastructure is expanding quickly. The company emphasizes that dispatchable solar located directly at or near load will play an essential role in meeting America’s next wave of power demand and strengthening domestic energy leadership. Interested customers can explore Exowatt’s systems and place P3 orders on the company’s website.
Exowatt was founded in 2023 by CEO Hannan Happi and Atomic CEO Jack Abraham. Backed by investors including a16z, Atomic, Felicis, and Sam Altman, the company focuses on modular renewable solutions engineered for high-demand applications such as data centers.
KEY QUOTES:
“With the support of our investors and partners, our commercial pipeline has a current demand backlog exceeding 90 GWh, spanning U.S. data centers, energy developers and everything in between. This new capital investment will support our scaling efforts for P3 as we continue to announce customers and partners in the months ahead.”
Hannan Happi, CEO of Exowatt
“AI demand won’t wait for new transmission interconnections. Exowatt’s dispatchable, American made solar puts firm, clean power at the edge of load—and our investment reflects our conviction in their ability to scale quickly with customers nationwide.”
Andre de Baubigny, Managing Director of MVP Ventures
“Exowatt is converting momentum into megawatts. We’re pleased to expand our support as the company scales domestic production and finances deployments, delivering dependable, sustainable power next to data centers throughout the U.S.”
Rayyan Islam, Co-Founder and General Partner of 8090 Industries
“To stay competitive in the AI era, Florida needs reliable, clean megawatts at speed. We’re proud to support a Florida business in Exowatt that makes that possible.”
Robert Harvey, President and Executive Director of the Florida Opportunity Fund
