Heron Power Secures $60 Million Credit Facility and Adds Ex-Tesla CFO Zach Kirkhorn to Its Board

SCOTTS VALLEY, Calif., Sept. 10, 2026 /PRNewswire/ -- Heron Power, an American advanced power electronics manufacturer, today announced a $60 million credit facility provided by J.P. Morgan and TriplePoint Capital, and the appointment of Zach Kirkhorn, former Chief Financial Officer of Tesla, to its board of directors.

The facility follows the $140 million Series B Heron closed in February 2026, co-led by Andreessen Horowitz's American Dynamism Fund and Breakthrough Energy Ventures.

Heron is converting a 286,000 square foot facility in Morgan Hill, California into Heron Factory One with mass production targeted to begin in late 2027. Heron has identified more than 40 gigawatts of customer interest in Heron Link, its 5 megawatt medium voltage power conversion system.

Kirkhorn has backed Heron Power since its Series A in 2025 and has advised the company on financial and operational topics. He spent 13 years at Tesla and served as CFO through the company's first full year of profitability and its scale-up of vehicle and battery manufacturing across North America, Europe, and Asia.

"A strong balance sheet and bench of advisors is key as we move from engineering to scale" said Drew Baglino, CEO and Founder of Heron Power. "Our customers plan projects years in advance and need a dependable power conversion partner. By adding Zach to the board, we benefit from his hard-won wisdom navigating the challenging path from 1^st delivered unit to profitability."

"Having been with Heron since nearly the beginning, as an investor and advisor, I've seen firsthand the exceptional capability, experience, and pace of execution of this team," said Zach Kirkhorn. "Modernizing the grid and reducing the cost of delivering power is one of our most important industrial challenges. It's terrific to be working with Drew again and an honor to support the team as a member of the board."

"Heron Power is addressing a key bottleneck in the modern grid: scaling next-generation power electronics that can support faster deployment and reliability as demand grows," said Julia Grinshpun, Managing Director, Climate Tech at J.P. Morgan Commercial Banking. "J.P Morgan is proud to support Heron's next phase of growth as the company prepares to ramp manufacturing."

About Heron Power

Heron Power Electronics Company builds hardware for a better grid, helping the electricity sector grow faster with scalable, reliable and software-controlled infrastructure. Heron's first product, the Heron Link, enables renewable energy, battery storage, and data center developers to connect directly to medium voltage transmission without a transformer. Led by founder and CEO Drew Baglino, the company designs and manufactures its products in California, combining expertise in power electronics, software, and high-volume manufacturing.

SOURCE Heron Power