Heron Power, an advanced power electronics manufacturer, closed a $60 million credit facility provided by J.P. Morgan and TriplePoint Capital. The company also appointed Zach Kirkhorn, former chief financial officer of Tesla, to its board of directors.
The facility follows the $140 million Series B Heron closed in February 2026, co-led by Andreessen Horowitz’s American Dynamism Fund and Breakthrough Energy Ventures.
Kirkhorn has backed Heron Power since its Series A in 2025 and has advised the company on financial and operational topics. He spent 13 years at Tesla and served as CFO through the company’s first full year of profitability and its scale-up of vehicle and battery manufacturing across North America, Europe and Asia.
“A strong balance sheet and bench of advisors is key as we move from engineering to scale” Drew Baglino, founder and CEO of Heron Power, said. “Our customers plan projects years in advance and need a dependable power conversion partner. By adding Zach to the board, we benefit from his hard-won wisdom navigating the challenging path from 1st delivered unit to profitability.”
Kirkhorn added, “Having been with Heron since nearly the beginning, as an investor and advisor, I’ve seen firsthand the exceptional capability, experience, and pace of execution of this team. Modernizing the grid and reducing the cost of delivering power is one of our most important industrial challenges. It’s terrific to be working with Drew again and an honor to support the team as a member of the board.”
Julia Grinshpun, managing director, climate tech at J.P. Morgan Commercial Banking, said, “Heron Power is addressing a key bottleneck in the modern grid: scaling next-generation power electronics that can support faster deployment and reliability as demand grows. J.P Morgan is proud to support Heron’s next phase of growth as the company prepares to ramp manufacturing.”
