DG Matrix raises $20 M to scale its Power Router platform
DG Matrix secures $20 M to commercialise the world’s first multi-port solid-state transformer.
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USA, North Carolina, Raleigh: DG Matrix has raised $20 M to commercialise its Power Router platform in an oversubscribed seed round led by Clean Energy Ventures, with participation from ABB, Cerberus Ventures, Chevron Technology Ventures, and Piedmont Capital, bringing its total funding to nearly $30 M.
The company specialises in solid-state transformer solutions for data centres, microgrids, and EV fleet electrification.
The funds will accelerate the commercialisation of DG Matrix’s Power Router platform, designed to enhance energy performance, ease grid constraints, and reduce costs. According to the company, its technology can integrate multiple AC and DC energy sources and loads simultaneously, replacing 10-20 traditional electrical systems with a more efficient and cost-effective alternative.
DG Matrix has tens of millions in purchase orders lined up for 2025 and 2026. Paid pilot deployments are set to begin in Q1 2025, with a full commercial launch expected in late Q2 2025.
The new funding will support commercialisation and team growth. Following the financing, Vlatko Vlatkovic, Clean Energy Ventures’ Venture Partner and former CTO of GE Power Conversion, will join the DG Matrix Board of Directors.
Source: DG Matrix
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