Heron Power, a California-based power electronics company, has raised a $60 million credit facility from J.P. Morgan and TriplePoint Capital.
The company will use the funding to convert a 286,000-square-foot facility in Morgan Hill, California, into a mass-production factory called Heron Factory One. Mass production is expected to begin in late 2027.
Led by founder and CEO Drew Baglino, Heron Power develops software-controlled power electronics for the modern electricity grid. Its main product, Heron Link, helps renewable energy, battery storage and data center developers connect directly to medium-voltage transmission without using a transformer.
Heron said it has identified more than 40 gigawatts of customer interest in Heron Link.
“A strong balance sheet and bench of advisors is key as we move from engineering to scale” said Drew Baglino, CEO and Founder of Heron Power. “Our customers plan projects years in advance and need a dependable power conversion partner. By adding Zach to the board, we benefit from his hard-won wisdom navigating the challenging path from 1st delivered unit to profitability.”
“Having been with Heron since nearly the beginning, as an investor and advisor, I’ve seen firsthand the exceptional capability, experience, and pace of execution of this team,” said Zach Kirkhorn. “Modernizing the grid and reducing the cost of delivering power is one of our most important industrial challenges. It’s terrific to be working with Drew again and an honor to support the team as a member of the board.”
“Heron Power is addressing a key bottleneck in the modern grid: scaling next-generation power electronics that can support faster deployment and reliability as demand grows,” said Julia Grinshpun, Managing Director, Climate Tech at J.P. Morgan Commercial Banking. “J.P Morgan is proud to support Heron’s next phase of growth as the company prepares to ramp manufacturing.”
The new credit facility follows the company’s $140 million Series B funding round which closed in February 2026 and was co-led by Andreessen Horowitz’s American Dynamism Fund and Breakthrough Energy Ventures.
Heron also announced the appointment of Zach Kirkhorn, former CFO of Tesla, to its board of directors. Kirkhorn has backed Heron since its Series A in 2025 and previously spent 13 years at Tesla, helping the company scale its vehicle and battery manufacturing operations.
