Atom Power Secures Additional Funding For Solid State Circuit Breaker Commercialization

CHARLOTTE, N.C., Nov. 2, 2017 /PRNewswire/ -- Atom Power Inc, a Charlotte, North Carolina company focused on solid-state power distribution technology, today announced closing a $3M round of investment.  Next 47, a Siemens-backed global venture firm, led the investment round along with ABB Technology Ventures.  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 going into the commercial markets and for development of higher amperage circuit breakers currently on their trajectory.  

"This is a very exciting time in the world of power distribution. For decades, circuit breakers and panels have been mostly mechanical in nature with very little control," said Ryan Kennedy, CEO of Atom Power. "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 products to the commercial markets and continue to develop products that save lives and make the world a better place."

Atom Power was founded in 2014 by Ryan Kennedy and Denis Kouroussis with the initial goal of simply making a remote control circuit breaker.  Since inception, they've gone far beyond this original dream and (to the best of their knowledge) have developed the fastest circuit breaker in the world and the first commercially viable solid-state circuit breaker.  Currently they have developed both AC and DC versions of their solid-state circuit breaker which they call the 'Atom Switch'.  Their focus has been primarily in the commercial and industrial building markets for their AC products and for energy storage and renewable distribution for their DC products. 

Siemens is 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. 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.

SOURCE Atom Power