Fourth Power, a Boston, MA-based provider of utility-scale thermal battery solutions, raised $19M in Series A funding.
The round was led by DCVC, with participation from Breakthrough Energy Ventures and Black Venture Capital Consortium.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Arvin Ganesan, Fourth Power provides utility-scale thermal battery solutions that store renewable energy as heat for short and long durations to dispatch electricity to the grid in seconds. Developed by MIT and Georgia Tech scholars, the company aims to supply clean power using innovative thermal technology with thermophotovoltaic (TPV) solar cells, turning the light from heated carbon blocks into electricity.
Fourth Power’s system converts renewable energy to heat, or thermal energy, which can be stored until needed. The thermal battery heats liquid tin and moves it through a piping system to heat stacks of carbon blocks until they glow white hot. The system then exposes thermophotovoltaic (TPV) cells to the light and converts it into electricity. The solution is designed to maximize the value of renewable energy generation and offer grid operators control and flexibility at the lowest cost compared to other energy storage options. The system is also modular and scalable by adding more carbon blocks to increase storage duration, allowing growth with the grid as renewable generation increases.
FinSMEs
12/12/2023