ATS Energy Secures New Investment to Accelerate Commercial Deployment and Meet Growing Demand for Waste-Heat Power Technology

Following rapid expansion of its customer pipeline and growing market demand, the Earthshot Prize winner is advancing manufacturing and preparing its first commercial Solid-State Generator for deployment in 2027.

LOVELAND, Colo., Oct. 14, 2026 /PRNewswire/ -- ATS Energy, developer of breakthrough technology that converts industrial waste heat directly into electricity, today announced the closing of a new financing round to advance commercial production of its Solid-State Generator (SSG) technology.

ATS has demonstrated its technology, developed a significant commercial pipeline, and expanded its leadership and operational capabilities. The company is now building the production capabilities required to deliver on that pipeline, and this investment enables the transition.

The new capital will support production of ATS's proprietary thermoelectric cartridges, a core component of its Solid-State Generators, and completion of its first commercial unit, targeted for deployment by mid-2027. The financing will shorten the time required to produce and deliver subsequent installations as customer demand grows.

From Breakthrough Technology to Commercial Production

Industrial facilities generate enormous quantities of waste heat, much of which is released into the environment without producing additional value. ATS has developed a solid-state technology that converts this otherwise wasted thermal energy directly into usable electricity without turbines or moving parts.

The company's next phase centers on translating that innovation into commercial production.
"We have spent years building a proven track record of breakthrough technology," said Doug Hudson, Chief Executive Officer of ATS Energy. "What has developed over the past year is that markets are moving toward ATS Energy. We've moved well beyond early interest to commercial commitments, active proposals and a pipeline that continues to expand across multiple industrial sectors. That puts us in a tremendous position to meet the moment in delivering energy to industry. This investment responds to real commercial opportunity, and it positions ATS Energy to scale production, meet customer demand faster, and drive commercial deployments."

Building a Capital-Efficient Manufacturing Operation

Rather than investing heavily in its own manufacturing facilities, ATS is developing a production model supported by specialized contract-manufacturing partners. The strategy is designed to leverage established manufacturing capabilities, limit capital expenditures and provide a scalable foundation for future production.

ATS has also strengthened its technical and commercial leadership, including the addition of Chief Technology Officer Edward Ganja to help guide the company's transition to commercial manufacturing.

Together, these investments support ATS's objective of deploying its first commercial generator and beginning revenue-generating operations in 2027, while developing the production capabilities needed to support additional customer installations.

"We are scaling manufacturing with the discipline required for commercial-grade industrial deployment moving beyond proof-of-concept to deliver mission-critical equipment," said Terry Hill, Chief Operating Officer of ATS Energy. "We've been building the supply chain, identifying the right manufacturing partners and putting the processes in place to move toward repeatable production. By leveraging contract manufacturing, we can focus our capital on the technology, the product and our customers rather than building factories. Just as importantly, we're working to reduce the time between installations so we can respond to the demand we're seeing in the market."

Building on Rapid Commercial Momentum

Since completing its initial friends-and-family financing in 2025, ATS Energy has experienced a rapid acceleration in market interest, moving from early commercial development toward building a substantial pipeline of opportunities across energy-intensive industries.

That momentum has created an opportunity to accelerate the company's commercialization timeline. Rather than waiting for demand to mature, ATS is now moving to scale commercialization to meet growing energy demands.

For ATS, this investment represents more than additional capital. It marks a shift from developing a breakthrough technology to building a business positioned to deliver it at commercial scale.

Building on Global Recognition

ATS was awarded the 2024 Earthshot Prize in the Fix Our Climate category, recognizing the potential of its technology to address one of industry's largest sources of wasted energy. The company has been building recognition within the global energy community, including receiving second place in the Innovations for Traditional Energy, Electricity & the Grid category at the 2026 Energy Venture Day and Pitch Competition during CERAWeek. As industrial operators seek greater energy efficiency, reliable on-site power and lower operating costs, ATS is working to establish waste-heat-to-electricity conversion as a new source of industrial power.

About ATS Energy

Headquartered in Loveland, Colorado, ATS Energy develops solid-state power generation technology that converts industrial waste heat directly into usable electricity without moving parts. Its proprietary thermoelectric cartridges and modular Solid-State Generators are designed to help energy-intensive industries recover otherwise wasted energy, reduce operating costs and improve energy efficiency. ATS was awarded the 2024 Earthshot Prize in the Fix Our Climate category.

Learn more at www.ats.energy.

Media Contact: Liz Deets
Director of Public Relations
Field First Communications
[email protected]
720-413-6224

SOURCE ATS Energy