Heron Power has secured a $60 million credit facility from J.P. Morgan and TriplePoint Capital as the advanced power electronics manufacturer prepares to move from engineering into large-scale production.
The company also appointed former Tesla CFO Zach Kirkhorn to its board of directors. The financing follows Heron’s $140 million Series B, which closed in February 2026 and was co-led by Andreessen Horowitz’s American Dynamism Fund and Breakthrough Energy Ventures.
Heron is converting a 286,000-square-foot facility in Morgan Hill, California, into Heron Factory One, with mass production targeted to begin in late 2027.
The company said it has identified more than 40 gigawatts of customer interest in Heron Link, its 5-megawatt medium-voltage power conversion system.
Heron Link is designed to allow renewable energy, battery storage and data center developers to connect directly to medium-voltage transmission without a transformer.
Heron combines power electronics, software and high-volume manufacturing to develop infrastructure intended to help electricity systems add capacity more quickly and reliably.
Kirkhorn has invested in Heron since its Series A in 2025 and has advised the company on financial and operational matters.
He spent 13 years at Tesla and served as CFO during the automaker’s first full year of profitability and the expansion of its vehicle and battery manufacturing footprint across North America, Europe and Asia.
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“A strong balance sheet and bench of advisors is key as we move from engineering to scale. Our customers plan projects years in advance and need a dependable power conversion partner. By adding Zach to the board, we benefit from his hard-won wisdom navigating the challenging path from 1 delivered unit to profitability.”
Drew Baglino, CEO and Founder of Heron Power
“Having been with Heron since nearly the beginning, as an investor and advisor, I’ve seen firsthand the exceptional capability, experience, and pace of execution of this team. Modernizing the grid and reducing the cost of delivering power is one of our most important industrial challenges. It’s terrific to be working with Drew again and an honor to support the team as a member of the board.”
Zach Kirkhorn, Board Member at Heron Power
“Heron Power is addressing a key bottleneck in the modern grid: scaling next-generation power electronics that can support faster deployment and reliability as demand grows. J.P Morgan is proud to support Heron’s next phase of growth as the company prepares to ramp manufacturing.”
Julia Grinshpun, Managing Director, Climate Tech at J.P. Morgan Commercial Banking
