Heron Power has secured a $60 million credit facility from J.P. Morgan and TriplePoint Capital. The California company, which develops medium-voltage power conversion systems for the grid, said the financing supports manufacturing scale-up as it brings Factory One online.
Heron Power builds the Heron Link, a 5 MW medium-voltage power conversion platform aimed at data centres, industrial loads and grid infrastructure. Its first factory is in Morgan Hill, California.
Drew Baglino, Chief Executive and Founder of Heron Power, said a strong balance sheet and bench of advisers is key as the company moves from engineering to scale. Julia Grinshpun, Managing Director, Climate Tech at J.P. Morgan Commercial Banking, said the bank is supporting Heron’s next phase of growth as it prepares to ramp manufacturing.
Separately, Heron appointed Zach Kirkhorn, former chief financial officer of Tesla, to its board of directors.
The facility follows a $140 million Series B equity round completed in February 2026, co-led by Andreessen Horowitz’s American Dynamism Fund and Breakthrough Energy Ventures.