DG Matrix provides solid-state transformer solutions for data centers and electrification projects such as microgrids and EV fleets. Now the company has secured $20 million in an oversubscribed seed funding round. Clean Energy Ventures led the round, and industry stalwarts including ABB, Cerberus Ventures, Chevron Technology Ventures and Piedmont Capital participated. The new funding brings DG Matrix’s total funding to nearly $30 million.
DG Matrix will use the funds to accelerate the commercialization of its Power Router platform, which “delivers flexible, reliable solutions to enhance energy performance while alleviating grid constraints and reducing energy costs.”
“Integrating multiple AC and DC energy sources and loads simultaneously enables the DG Matrix solution to replace 10-20 electrical systems with a more versatile, efficient, cost-effective and reliable system,” says the company.
DG Matrix says it has tens of millions in purchase orders in the pipeline for 2025 and 2026. The company will begin paid pilot deployments in Q1 2025, and anticipates a full commercial launch in late Q2 2025.
“The unprecedented amount of electricity demand by broader electrification is expected to further strain the grid and jeopardize grid reliability. Commercial markets are requiring a standardized, efficient solution to manage their complex electricity configurations in a cost-effective manner,” said Daniel Goldman, Managing Partner at Clean Energy Ventures. “We believe DG Matrix’s industry-agnostic solid-state transformer solutions will be paramount in alleviating grid pressure.”
Source: DG Matrix
