US transformer developer Heron Power has closed its Series B funding round, raising $140 million. The round was co-led by the American Dynamism Fund and Breakthrough Energy Ventures.

The latest funding round brings the company’s total raised capital to $183m. It closed its Series A funding round last May.

Heron will use the proceeds from the latest funding round to build a 40GW manufacturing facility in the US for Heron Link, its solid-state transformer solution for critical energy and AI data center projects.

According to the company, Heron Link is a modular megawatt power converter built on the latest advances in wide-bandgap semiconductors. In addition, the company claims that the product is designed for high power density and ease of maintenance, offering greater reliability and lower costs for renewable energy storage and data center developers.

Initial field demonstrations for Heron Link are expected in mid-2026, with partner installations slated for early 2027.

“We need new, more capable solutions to keep pace with accelerating energy demand and the rapid growth of gigascale compute,” said Drew Baglino, founder and CEO of Heron Power. “Too much of today’s electrical infrastructure is passive, clunky equipment designed decades ago. At Heron we are manifesting an alternative future, where modern power electronics enable projects to come online faster, the grid to operate more reliably, and scale affordably.”

The company has already partnered with data center firms to deploy its solution. Last June, the firm signed a Letter of Intent (LOI) with Crusoe to supply power converter technology for the Stargate data center campus in Texas.