Exowatt raises $50 million to meet demand for solar energy storage
Exowatt just scored $50 million in fresh funding, led by MVP Ventures and 8090 Industries, with support from Atomic, Bay Bridge Ventures, and other investors.
The cash will help them ramp up manufacturing to meet a huge backlog—about 90 gigawatt-hours—of P3 units, which are being targeted for use in AI data centers.
The startup's goal is to provide round-the-clock solar power
Exowatt wants to make solar power available around the clock for about one cent per kilowatt-hour—a seriously low price.
Their P3 system uses special lenses to focus sunlight and heat up custom bricks that store energy for up to five days.
When needed, this heat turns into electricity using a Stirling engine, making it perfect for powering always-on tech like AI.
The company already has orders for nearly 90MWh of capacity
Exowatt already has orders for about 10 million P3 units (that's nearly 90 GWh of capacity).
As production scales up to one million units a year, they're aiming to hit their ambitious cost target through modular designs and manufacturing.