Charlotte-based Atom Power, a company focused on solid-state power distribution technology,has secured an equity investment from Siemens, which has a major presence in Charlotte. The amount of the investment was not disclosed.
The investment in Atom Power was done in partnership with next47, the independent innovation arm of Siemens.
Since its founding in 2014, Atom Power has successfully created one of the world’s first commercially viable solid-state circuit breakers for the commercial and industrial building markets. The investment will accelerate Atom Power’s initiatives towards achieving Underwriter’s Laboratories listing and for development of higher amperage circuit breakers currently on their trajectory.
The company is headquartered at Ventureprise in UNC Charlotte’s PORTAL building.
In a statement, Ryan Kennedy, CEO of Atom Power said,. “Since our founding, we have developed circuit breakers that are not only dynamic and intelligent, but are also making electricity safe by preventing arc flash hazards. With this funding, we will take our circuit breaker products to UL, into the mainstream markets, and continue to develop products.”
Kennedy was trained as an engineer at UNC Charlotte. He is a native of the city.
Siemens isays it s dedicated to developing the safest, most reliable electrical distribution equipment in the industry and counts the Charlotte and North Carolina region as a major energy hub. The city is home to the company’s Charlotte Energy Plant, the worldwide hub for 60 Hz power generating equipment and employs 1,700 people. North Carolina is also home to the company’s U.S. transformer and transmission headquarters and an R&D site for Digital Grid technologies.
Siemens is also a key transportation technology partner for Charlotte, having built the city’s new light rail vehicles and recently chosen to manufacture new advanced technology streetcars out of its U.S. plant.