Exowatt Secures $50M to Speed U.S. Deployment of Dispatchable Solar
Exowatt, a next-generation renewable energy technology company, has announced an additional $50 million in funding to expand its U.S. manufacturing capabilities and accelerate nationwide deployment of its Exowatt P3 systems. This new round of capital comes at a pivotal moment for the company, which is experiencing strong market momentum as the rapid growth of artificial intelligence transforms America’s electricity landscape. With AI data centers and industrial users demanding increasing amounts of reliable, sustainable, and easily deployable power, Exowatt’s offering is gaining significant traction.
The additional $50 million infusion builds on a series of earlier financings and reflects investor confidence in Exowatt’s ability to deliver scalable, dispatchable solar solutions that are designed specifically for energy-intensive operations. Across the United States, the surge in AI-driven digital infrastructure has created an unprecedented appetite for firm, clean energy resources that can be deployed close to the point of consumption. Exowatt’s P3 platform has emerged as a compelling answer to this need, promising high-availability renewable power without the constraints of traditional grid interconnection timelines.
At the core of Exowatt’s offering is the P3 system, a modular, dispatchable solar technology engineered to overcome one of the biggest limitations of solar energy—its intermittency. Rather than generating electricity only when the sun is shining, P3 captures solar energy as heat and stores it for later conversion into power. This thermal-storage approach enables the system to deliver controlled, round-the-clock electricity, including during peak hours and throughout the night. The ability to supply firm, renewable power on demand is widely regarded as the “Holy Grail” of solar energy, and Exowatt’s technology aims to make this capability available at scale.
The P3 system is also designed for rapid siting and modular expansion, allowing deployments to be built out quickly and located at or near energy-intensive sites. For AI data centers—which require enormous amounts of consistent energy and often face long waits for new grid interconnections—this design represents a major strategic advantage. By co-locating power generation with the facilities that need it most, Exowatt helps customers reduce exposure to grid congestion while increasing the reliability of their energy supply. In addition, the system’s modular structure allows customers to incrementally scale capacity as their operations grow.
Exowatt CEO Hannan Happi highlighted the company’s acceleration and significant industry interest. “With the support of our investors and partners, our commercial pipeline has a current demand backlog exceeding 90 GWh, spanning U.S. data centers, energy developers, and everything in between,” Happi said. “This new capital investment will support our scaling efforts for P3 as we continue to announce customers and partners in the months ahead.” The size of the company’s demand backlog underscores the scale of interest in dispatchable solar as a practical solution to the rising power needs of the digital economy.
The $50 million capital investment was led by MVP Ventures and 8090 Industries and represents an extension of Exowatt’s April 2025 Series A round, which raised $70 million. That earlier round was led by Felicis, a prominent Silicon Valley venture capital firm that also contributed to the latest extension. Other participants in this new financing include The Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures. These investors reflect a broad coalition of supporters across the technology, climate, and industrial sectors, all aligned behind Exowatt’s mission to deliver firm, sustainable energy solutions at speed.
Exowatt’s initial seed round of $20 million featured backing from notable angel investors, including Sam Altman, CEO of OpenAI, and actor and environmental activist Leonardo DiCaprio. Their early involvement helped elevate Exowatt’s profile and reinforced confidence in the company’s mission to bring innovative, sustainable power technologies to market.
As AI becomes a national strategic priority, demand for domestic, reliable renewable power continues to escalate. The energy footprint of AI data centers is rising faster than many utilities can accommodate, creating bottlenecks in grid interconnection queues and pushing operators to seek alternatives beyond traditional electricity infrastructure. Exowatt’s vision for American-made, dispatchable solar is aligned with federal and state priorities aimed at strengthening U.S. energy independence, expanding manufacturing capacity, and supporting the growth of the nation’s digital economy.
The company’s investors see Exowatt as uniquely positioned to address the energy challenges of the AI era. “AI demand won’t wait for new transmission interconnections,” said Andre de Baubigny, Managing Director of MVP Ventures. “Exowatt’s dispatchable, American-made solar puts firm, clean power at the edge of load—and our investment reflects our conviction in their ability to scale quickly with customers nationwide.” His remarks emphasize a defining reality of today’s energy landscape: AI data centers need power now, not in the five to ten years it often takes to build out new transmission infrastructure.
Rayyan Islam, Co-Founder and General Partner of 8090 Industries, also underscored the company’s rapid progress. “Exowatt is converting momentum into megawatts,” Islam said. “We’re pleased to expand our support as the company scales domestic production and finances deployments, delivering dependable, sustainable power next to data centers throughout the U.S.” For investors focused on industrial decarbonization and resilient supply chains, Exowatt’s model combines climate impact with economic opportunity.
Regional economic leaders are also rallying behind Exowatt’s expansion. “To stay competitive in the AI era, Florida needs reliable, clean megawatts at speed,” said Robert Harvey, President and Executive Director of the Florida Opportunity Fund. “We’re proud to support a Florida business in Exowatt that makes that possible.” The company’s growth aligns with Florida’s push to attract new technology sectors and strengthen high-value manufacturing within the state.
With new capital in hand, Exowatt is preparing to scale up its manufacturing footprint, expand partnerships with data center operators, and pursue new commercial deployments across the country. As energy demand skyrockets and the grid faces unprecedented pressure, Exowatt’s dispatchable solar solutions position the company as a critical player in enabling sustainable, reliable power for the AI-driven future.
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