To meet the growing demand for renewable energy on the grid, Fourth Power has received $19 million in Series A funding to scale its cost-effective groundbreaking thermal battery technology. The investment round was led by the venture capital firm DCVC, with participation from Breakthrough Energy Ventures (BEV) and Black Venture Capital Consortium. In addition to helping scale the company's thermal energy storage solution, which can store energy for both short- and long-term durations to be put back on the grid as electricity, the investment will initiate the construction of a 1 MWh-e prototype facility outside Boston, with a 2026 anticipated completion date.

Backed by more than a decade of R&D, 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 affordable and reliable clean power using innovative thermal technology with thermophotovoltaic (TPV) solar cells, turning the light from heated carbon blocks into electricity. The company holds several records, including the record for thermophotovoltaic efficiency at 41% and a Guinness World Record for the highest temperature pump at 1200°C degrees. Fourth Power's extremely high temperature system ensures maximum efficiency with readily available materials, making its technology the lowest-cost option for grid decarbonization.