HUNTERSVILLE – There’s more than $100 million pouring into Huntersville-based Atom Power, as the company announced a funding round on Thursday morning, including an investment from SK Inc. and SK Energy.

An SEC filing signed by the company’s CFO, Eric Dana, confirms the funding round, with the total in excess of more than $111 million from eight investors.

According to a statement from the company, which notes it has digitized power delivery, the growth funding adds further momentum to the startup firm’s EV charging solution and in commercializing a solid-state circuit breaker.

“Our mission is to power a more intelligent electrification of everything. The EV market is massive, rapidly growing, and desperate for a new way to scale, drive revenue and accelerate adoption,” said Ryan Kennedy, CEO of Atom Power. “Our technology is the perfect solution for this perfect storm. SK’s backing provides the capital and strategic alignment to support us in driving the new standard for digital power delivery across every industry.”

Earlier this year, SK pledged to invest $22 billion across a broad range of technology and cleantech industries in the United States, as well as committed to invest in the semiconductor sector.

South Korea-based tech giant SK Group to invest $22B in US, create thousands of jobs

And, SK buying additional stake

According to the company’s statement, alongside the $100 million that SK invested in Atom Power, it acquired an additional $50 million stake in the company from its prior investors.  The statement notes that this acquisition was a further “doubling down on their commitment to fueling the company’s long-term growth.”  SK is now Atom Power’s largest outside shareholder, according to the statement

“We value the core technology of Atom Power, which is the primary driver in deciding to invest in Atom Power,” said Moo-hwan Kim, EVP and Head of Green Investment Center at SK Inc, in the statement. “As the major shareholder of Atom Power, we will move forward with Atom Power to expand the business to the entire US and ultimately globally, establishing a competitive energy solution platform.”

Atom Power raised $17.8 million in 2020, including from ABB Technology Ventures.  The company also raised $3 million in 2017.

Charlotte digital energy startup Atom Power lands $17.8M