What is Exowatt?
Dispatchable solar and thermal storage systems for AI data centers and industrial power loads.
- Category
- Energy storage
- Headquarters
- Miami, FL
- Founded
- 2023
- Employees
- 51-200 reported
- Total funding
- $140M disclosed
- Valuation
- Series B; valuation not disclosed
What is Exowatt?
Exowatt builds modular solar-plus-thermal-storage systems designed to deliver low-cost dispatchable energy for AI data centers and industrial facilities. Its Exowatt P3 captures solar energy, stores it as heat, and converts it into electricity on demand for up to 24 hours.
Exowatt is aimed at the power bottleneck behind AI infrastructure: data centers need fast, reliable capacity, but grid interconnection and firm renewable procurement can take years. The company packages generation, thermal storage, and conversion into modular P3 units that can be deployed onsite and scaled in blocks. Public materials emphasize accelerated time to power, 24-hour dispatchability, and a cost structure meant to compete with conventional baseload alternatives.
The company disclosed a demand backlog of more than 90 GWh from data centers, energy developers, and hyperscalers after its 2025 Series A. In late 2025 it announced another $50M, bringing disclosed funding to $140M in under two years. Exowatt does not publish revenue, named customer counts, or standard $/kWh pricing, so the safest scale signals are backlog, funding, hiring, and planned commercial deployments.
What does Exowatt offer?
Exowatt offers P3 dispatchable solar systems and related deployment services for energy-intensive commercial and industrial sites.
- Exowatt P3· Energy system
- Thermal energy storage· Storage
- Onsite solar power· Generation
- 24-hour dispatchable power· Reliability
- Data center power· Vertical
- Industrial heat and power· Vertical
- Deployment engineering· Services
Sources:Exowatt solutionsExowatt careers
How does Exowatt make money?
Exowatt appears to monetize through project sales and deployment/service contracts for P3 systems; it does not publish standard prices.
Exowatt is a hardware-and-energy infrastructure company rather than a self-serve SaaS vendor. Buyers are data centers, hyperscalers, energy developers, and industrial sites that need firm onsite power; pricing is project-specific and likely depends on system size, siting, interconnection needs, heat-to-power configuration, deployment timeline, and service scope. Exowatt has not published list prices or verified revenue figures.
The business model scales if P3 manufacturing costs fall and deployed systems can deliver cheaper firm energy than grid upgrades, gas peakers, diesel backup, or battery-heavy solar designs. The $50M follow-on round was explicitly framed around U.S. manufacturing and commercial rollout. For sellers, budget owners likely sit across energy procurement, data-center infrastructure, manufacturing operations, finance, and supply chain.
Who leads Exowatt?
Exowatt is led by co-founder and CEO Hannan Happi, with Atomic founder Jack Abraham and thermal-systems leader Sushrut Bapat among the founding team.
- Hannan HappiCo-founder & CEOSince 2023Leads Exowatt commercialization for AI-era power demand.
- Jack AbrahamCo-founderSince 2023Atomic founder and company-building backer behind Exowatt.
- Sushrut BapatCo-founderSince 2023Technical founder associated with P3 thermal energy storage development.
How do you contact Exowatt's leadership?
Exowatt publishes company contact paths but not verified personal executive emails. Use the public contact page or press route rather than inferred personal addresses.
Contact form / public company contact; personal format not verifiedHow much funding has Exowatt raised?
Exowatt has disclosed $140M in funding, including a $70M Series A and $50M additional financing; no public valuation has been disclosed.
Exowatt launched publicly in 2024 with backing associated with Atomic and high-profile technology investors, then announced a $70M Series A in 2025 to deploy and scale Exowatt P3. That Series A followed earlier seed/initial capital that public databases describe as part of the company’s $140M total. The Series A release highlighted a 90+ GWh demand backlog and planned 2025 commercial deployments.
In late 2025, Exowatt announced another $50M in funding to expand U.S. manufacturing and accelerate deployments for AI data centers and industrial sites. The company did not disclose a valuation in those announcements. a16z lists Exowatt on its public investment list, so the investor provenance is public even where full round allocation is not.
How did Exowatt get here?
Exowatt moved from 2023 founding to commercial P3 deployment planning in under three years.
- 2023Founded in MiamiHannan Happi, Jack Abraham, and Sushrut Bapat start Exowatt around modular dispatchable renewable power.
- 2024Public product pushExowatt begins positioning P3 for AI data centers and industrial loads.
- 2025$70M Series AFunding supports P3 production and deployment, with 90+ GWh demand backlog disclosed.
- 2025Commercial deployments plannedExowatt says several deployments will go live across U.S. locations.
- Late 2025$50M additional financingCapital targets U.S. manufacturing scale-up and deployment acceleration.
Sources:Exowatt newsExowatt $50M blog
Who are Exowatt's competitors?
Exowatt competes with long-duration storage, onsite power, renewable project developers, and data-center energy suppliers.
- Antora EnergyThermal battery company focused on industrial heat and power.
- Rondo EnergyThermal battery provider for industrial heat decarbonization.
- Form EnergyMulti-day iron-air energy storage for grid-scale reliability.
- CrusoeAI infrastructure company using energy-first data-center development.
- Intersect PowerClean energy developer building renewables and data-center power infrastructure.
Sources:Exowatt homepageAntora Energy
Exowatt — frequently asked questions
