Fourth Power, a renewable energy company based in Cambridge, has secured $19 million in Series A funding to scale its utility-scale thermal energy storage technology. The funding round was led by DCVC. The company’s vision is to make renewable energy a reliable resource for the grid at all hours of the day, helping to tackle climate change and reduce reliance on fossil fuels.
Fourth Power’s thermal battery system converts renewable energy from sources like windmills and solar panels into heat, which can be stored in carbon blocks until needed and then discharged as electricity. The solution aims to offer grid operators control and flexibility at a lower cost compared to other energy storage options. It is also scalable, allowing for increased storage duration as renewable generation increases.
The funding enables the company to accelerate the development of its storage solutions. Fourth Power will initiate the construction of a prototype facility outside Boston that is expected to be completed in 2026. The capital will also help support durability tests as well as the expansion of Fourth Power’s engineering team.
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