Atom Power Raises $17.75 Million in Funding to Scale Digital Power Management Platform
The Series B will accelerate ‘Internet of Power’ vision and E-mobility offering
CHARLOTTE, N.C., June 5, 2020-- Atom Power, inventor of the world’s first and only digital circuit breaker, today announced it raised $17.75 million in Series B funding to build a future where power is connected, managed, and used just like data on the Internet. Investors in the Series B include Valor Equity Partners, Rockwell Automation, Inc., ABB Technology Ventures, and Atreides Management. Atom Power has raised $23 million in total funding, including a previous $3 million Series A in 2017.
Last year, Atom Power’s digital circuit breaker was the first of its kind to be listed by UL, bringing power distribution to the digital age for the first time. Unlike traditional circuit breakers, the device intelligently manages the flow of power with software and semiconductors, connects unlimited power sources into one point, and dynamically switches between them based on need.
The latest funding will equip Atom Power to develop the next generation digital circuit breaker, scale its intelligent power management platform, and address the world’s most pressing power distribution challenges, like integrating renewables into the grid, building more efficient data centers, and supporting other sustainable energy initiatives.
Looking ahead, 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, CEO, Atom Power. “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.”
Atom Power’s intelligent product suite includes its digital circuit breakers (Atom Switch), distribution panels (Atom Panel) and software (Atom OS), which together form the fastest power distribution system in existence. With circuit interruption capabilities up to 150,000-amps, a single Atom Switch replaces the need for more than 100 products used in commercial power today and mitigates explosions from electrical faults like never before.
About Atom Power
Atom Power invented the world’s first and only commercial solid state circuit breaker. Designed and manufactured in Charlotte, NC, the Atom Power suite of intelligent products includes a circuit breaker, distribution panel and software that enables complete control and customization of electrical infrastructure for commercial and industrial applications. By transitioning the circuit breaker from mechanical to digital, Atom Power introduced the safest circuit breaker on the market and the fundamental infrastructure for more intelligent power distribution and smarter energy usage. For more information, please visit atompower.com.
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