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HomeFunding Boston-based Fourth Power Secures $19M in Series A Round Funding

[Funding alert] Boston-based Fourth Power Secures $19M in Series A Round Funding

Boston-based Fourth Power Secures $19M in Series A Round Funding. DCVC led the round, including participation from Black Venture Capital Consortium and Breakthrough Energy Ventures.

Boston-based Fourth Power Secures $19M in Series A Round Funding. DCVC led the round, including participation from Black Venture Capital Consortium and Breakthrough Energy Ventures.

The funds will be utilised by the company to expand both its operations and its clientele. Fourth Power, led by CEO Arvin Ganesan, provides utility-scale thermal battery solutions that can store renewable energy as heat for both short and long periods of time and quickly release electricity into the grid.

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The company, which was founded by researchers from Georgia Tech and MIT, uses thermophotovoltaic (TPV) solar cells and revolutionary thermal technology to convert light from heated carbon blocks into electricity in order to supply clean power.

The technology employed by the Fourth Power transforms renewable energy into thermal energy, or heat, which may be stored for later use. Stacks of carbon blocks are heated to a white-hot glow by means of a pipe system that is heated by the thermal battery.

Read also – PA-based Geo-Solutions Secures an Investment from Blue Sage Capital

The light is subsequently absorbed by thermophotovoltaic (TPV) cells by the system, which uses it to produce power. In comparison to alternative energy storage alternatives, the solution’s cheap cost enables grid operators to have control and flexibility while optimising the value of renewable energy supply.

Additionally, the system is scalable and modular, allowing it to expand with the grid as renewable energy output increases by adding more carbon blocks to lengthen storage times.

Read also – Colombian Fintech Startup Supra Secures an Undisclosed Amount in Funding

About Fourth Power

Fourth Power is an energy storage startup that uses thermal batteries. TheirMO-based Simplifield E-Solutions Secures an Investment from HCAP approach utilises utility-scale thermal storage to turn renewable energy into an energy source that can be used whenever needed. Today’s unused solar and wind energy can be used to power the grid at a price that is competitive with fossil fuels.

Read also – NYC-based AI Startup Signum.AI Secures an Undisclosed Amount in Seed Funding

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