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The Korean Startup Trying to Shrink the Grid's Heaviest Box
Crocus wants to replace the hundred-year-old iron transformer with a silicon one that thinks. Its bet: the same box that charges electric cars can also keep an AI data center from browning out.
Heron Power
Heron Power is a Scotts Valley, California company building solid-state transformers - power electronics purpose-built for the modern electrical grid. Founded in 2025 by former Tesla powertrain and energy chief Drew Baglino, its flagship Heron Link converts medium-voltage electricity to usable low-voltage power in a modular, software-integrated package, replacing the century-old iron-core transformer. The company targets utility-scale solar, grid-scale batteries, and hyperscale AI data centers, and is building a 40-gigawatt US factory to meet a backlog of orders.
Drew Baglino
Drew Baglino spent 18 years at Tesla building the guts of the electric age - the Model S powertrain, the Powerwall and Megapack, the 4680 battery cell and a clean-sheet 50 GWh factory in Texas. In 2024 he walked away as Senior Vice President of Powertrain and Energy and aimed his next act at the one piece of grid hardware almost nobody had touched in a century: the transformer. His startup, Heron Power, builds software-controlled solid-state transformers and in February 2026 raised a $140 million Series B co-led by Andreessen Horowitz and Breakthrough Energy Ventures to build a 40 GW U.S. factory. He also quietly founded a residential heat-pump company, Sadi Thermal Machines.