Exowatt, a Miami, FL-based next-generation renewable energy company, closed its $70 million Series A funding round, bringing the total funding to $90m to date.
The round was led by Felicis. Of the $70m raised, $35m came from debt provided by HSBC Innovation Banking and other lending partners while the remaining $35m came from equity. Additional investors include Andreessen Horowitz, 8090 Industries, Starwood Capital, Thrive Capital, MCJ Collective, MVP Ventures, GOAT VC, and StepStone Group. Atomic and a16z returned to make additional investments following their contributions to Exowatt’s Seed round, which included angel investors such as Sam Altman, CEO of Open AI and actor and environmentalist, Leonardo DiCaprio.
The close of Exowatt’s Series A round comes just months after launching its flagship product, The Exowatt P3, during the RE+ conference last September in Anaheim, CA. The Exowatt P3 is a modular, dispatchable solar solution capable of delivering up to 24 hours of power daily. The P3 captures solar energy as heat in a long-duration battery and converts it into electricity on demand, making it ideal for data centers and other commercial and industrial (C&I) applications.
Funding from Series A will support the domestic production and deployment of the Exowatt P3, making the technology far more accessible to the industry.
Founded in 2023 by Hannan Happi and Atomic CEO Jack Abraham, Exowatt is a next-generation renewable energy company providing modular energy solutions tailored for energy-intensive applications like data centers.
Exowatt has a demand backlog of over 90 GWh (gigawatt hours) from data centers, energy developers and hyperscalers across the U.S. Several commercial deployments will be going live in 2025 across a number of locations across the U.S.
FinSMEs
23/04/2025