8 June 2020
Atom Power raises $17.75m in Series B round
Atom Power of Charlotte, NC, USA, which invented what is claimed to be the first commercial digital solid-state circuit breaker, has raised $17.75m in Series B funding from investors including Valor Equity Partners, Rockwell Automation Inc, ABB Technology Ventures, and Atreides Management. Atom Power has now raised $23m in total funding, including a previous $3m Series A in 2017.
Atom Power says that last June its silicon carbide (SiC)-based digital circuit breaker was the first of its kind to be listed by UL. 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 should equip Atom Power to develop the next-generation digital circuit breaker, scale its intelligent power management platform, and address the 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 aims to apply its technology via advanced e-mobility to dramatically shift how electric vehicle (EV) 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,” notes CEO Ryan Kennedy. “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.”
Atom Power’s intelligent product suite includes its digital circuit breakers (Atom Switch), distribution panels (Atom Panel) and software (Atom OS), which together form what is claimed to be the fastest power distribution system in existence. With circuit interruption capabilities up to 150,000A, a single Atom Switch can replace the need for more than 100 products used in commercial power today and mitigates explosions from electrical faults, the firm adds.