With $140m raised in under two years, Sam Altman-backed energy developer prepares to scale American-made deployments quickly near AI data centers nationwide

MIAMI–(BUSINESS WIRE)–Exowatt, a next-generation renewable energy company, today announced $50m in additional funding to expand U.S. manufacturing and accelerate deployments of its Exowatt P3 systems to energy‑intensive AI data centers and power-hungry industrial sites throughout the nation. The new capital builds on strong market traction and prior financings, reflecting growing demand for reliable, quick-to-market, sustainable power as the AI revolution reshapes U.S. electricity needs.

Exowatt’s P3 is a modular, dispatchable solar system that enables controllable, around‑the‑clock output by storing solar energy in the form of heat and converting it to power during peak demand hours and throughout the night, the Holy Grail of solar energy. Designed for rapid-siting and scale-out, P3 can be co-located at or near load, providing the firm, sustainable capacity that data centers require while reducing dependence on constrained grid interconnection.

“With the support of our investors and partners, our commercial pipeline has a current demand backlog exceeding 90 GWh, spanning U.S. data centers, energy developers and everything in between,” said Hannan Happi, CEO of Exowatt. “This new capital investment will support our scaling efforts for P3 as we continue to announce customers and partners in the months ahead.”

The $50m capital investment was led by MVP Ventures and 8090 Industries and is an extension to Exowatt’s April 2025 $70m Series A round led by Felicis, a leading venture capital firm in Silicon Valley, which also contributed. Additional investors for this extension include The Florida Opportunity Fund, DeepWork Capital, Dragon Global, Massive VC, New Atlas Capital, BAM, Overmatch, Protagonist, StepStone, Atomic, and Bay Bridge Ventures. Exowatt’s initial seed round of $20m included notable angel investors Sam Altman, CEO of Open AI, and actor and environmentalist, Leonardo DiCaprio.

With AI power now a national priority, this funding accelerates Exowatt’s vision for American made, dispatchable solar for data centers across the country, advancing U.S. energy dominance.

“AI demand won’t wait for new transmission interconnections,” said Andre de Baubigny, Managing Director of MVP Ventures. “Exowatt’s dispatchable, American made solar puts firm, clean power at the edge of load—and our investment reflects our conviction in their ability to scale quickly with customers nationwide.”

“Exowatt is converting momentum into megawatts,” said Rayyan Islam, Co-Founder and General Partner of 8090 Industries. “We’re pleased to expand our support as the company scales domestic production and finances deployments, delivering dependable, sustainable power next to data centers throughout the U.S.”

“To stay competitive in the AI era, Florida needs reliable, clean megawatts at speed. We’re proud to support a Florida business in Exowatt that makes that possible,” said Robert Harvey, President and Executive Director of the Florida Opportunity Fund.

Power generation demand from data centers is predicted to increase by 150% by 2030, and Exowatt is powering the next wave of energy innovations. Interested customers can learn more about Exowatt’s technology and order the Exowatt P3 at www.exowatt.com.

About Exowatt:

Exowatt is a next-generation renewable energy company providing modular energy solutions tailored for energy-intensive applications like data centers. Founded in 2023 by Hannan Happi and Atomic CEO Jack Abraham, Exowatt’s mission is to make sustainable renewable energy always available and almost free. Exowatt is backed by a16z, Atomic, Felicis, and Sam Altman and is headquartered in Miami, Florida.

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