Fourth Power Raises $19M in Series A Funding
Summary
The company intends to use the funds to expand operations and its business reach. Led by CEO Arvin Ganesan, Fourth Power provides utility-scale thermal battery solutions that store renewable energy as heat for short and long durations to dispatch electricity to the grid in seconds. Developed by MIT and Georgia Tech scholars, the company aims to supply clean power using innovative thermal technology with thermophotovoltaic (TPV) solar cells, turning the light from heated carbon blocks into electricity. The system then exposes thermophotovoltaic (TPV) cells to the light and converts it into electricity. The solution is designed to maximize the value of renewable energy generation and offer grid operators control and flexibility at the lowest cost compared to other energy storage options.