Miami-based renewable energy startup Exowatt has secured $70 million in a Series A funding round to support the development and production of its modular solar energy system, the Exowatt P3. The innovative system is designed to provide 24/7 power by storing solar energy as heat in a long-duration battery, allowing it to generate electricity on demand without reliance on the grid at night.
Founded in 2023, Exowatt specializes in solar solutions for energy-intensive applications such as data centers, commercial, and industrial sites. The newly raised capital will be used to expand domestic production and meet a growing demand, with a backlog of over 90 GWh from data centers, energy developers, and hyperscalers across the U.S.
“We’ve been overwhelmed with the amount of interest in the P3 since we launched it to market late last year,” said Hannan Happi, CEO of Exowatt. “The additional funding will help us accelerate commercialization and deployment of our solution for the data center energy needs and help us scale our manufacturing capacity.”
