Data centers and the AI boom dominate the headlines. As demand for compute skyrockets, the infrastructure powering this growth is being pushed to its limits. Energy needs are surging, and demand is expected to grow 2x or more by 2030. Traditional power solutions can’t keep up—not in terms of cost, deployment speed, or reliability. The result? A scramble among entrepreneurs and investors to meet this moment with new energy technologies that can scale fast.
Meeting this rising demand requires more than just adding electrons to the grid. It calls for abundant, reliable, and locally sourced clean power that can be deployed fast. That’s where Exowatt comes in. By combining solar capture, thermal storage, and on-demand generation into a single modular unit, Exowatt delivers firm renewable power without the delays of interconnection or the constraints of fragile supply chains. It’s a system designed for the scale, speed, and resilience that the AI era demands—and a step toward a more abundant clean energy future.
MCJ is excited to participate in Exowatt’s Series A led by Felicis alongside co-investors like Andreessen Horowitz, Atomic, 8090 Industries, Starwood Capital, Thrive Capital, MVP Ventures, GOAT VC, and StepStone Group.
What is Exowatt?
Exowatt is developing a new model for renewable power delivery that pairs the scalability of solar with the reliability of always-on energy. Its flagship product, the Exowatt P3, is a modular, containerized unit that integrates solar energy capture, thermal storage, and on-demand power generation in a single package. Instead of converting sunlight directly into electricity via photovoltaics, Exowatt’s P3 uses large Fresnel lenses to concentrate solar energy into heat, which is then stored in proprietary solid-state thermal batteries. When power is needed, the stored heat drives an air-based engine to generate electricity, up to 24 hours a day. This approach, unlike conventional solar-plus-storage systems, enables longer-duration energy storage, lower system degradation, and dramatically simpler supply chains, using U.S.-sourced materials without rare earths or lithium.
Because each module is factory-built and deployable off-grid, Exowatt can deliver clean, dispatchable energy with short lead times. Exowatt is ideal for AI data centers and industrial facilities struggling with grid congestion and long interconnection delays. With a demand backlog of more than hundreds of GWh and commercial deployments underway, the company is scaling fast to meet the moment.
Why Did We Invest?
Compelling Founder-Market Fit
Exowatt’s founding team brings the kind of deep domain expertise and repeat founder experience we consistently look for—pairing technical depth with a proven ability to build and scale ambitious companies.
Hannan Happi is Co-founder and CEO of Exowatt. A mechanical engineer trained at the Technical University of Munich and Stanford GSB, he previously held roles at GE, Siemens, Accenture, and Tesla before co-founding Volansi, an autonomous drone logistics startup later acquired by a defense firm. Now based in Miami, Hannan is focused on building scalable, dispatchable energy solutions to meet the soaring power demands of the digital age.
Jack Abraham is Co-founder of Exowatt and Founder of Atomic, the venture studio behind startups like Hims & Hers, OpenStore, and Butter. Through Atomic, he has co-founded dozens of companies, including $HIMS, which went public just three years after launch. Prior to Atomic, Jack founded Milo, acquired by eBay at age 24, and has angel invested in companies like Pinterest, Uber, and Postmates. He studied at the Wharton School, where he designed his own major in Technological Entrepreneurship.
Built for Scale, Priced for Impact
Exowatt claims to have already achieved a competitive Levelized Cost of Energy (LCOE) of 4 cents/kWh, with the potential to drive down costs even further as its manufacturing scales. Compared to nuclear, geothermal, and solar PV plus storage, Exowatt may represent a more cost-effective and scalable path to clean, dispatchable power. Additionally, Exowatt’s use of abundant, domestically sourced materials like silicon composites, steel and glass has the potential to sidestep the volatile trade and tariff landscape that drives cost uncertainty for solar PV and battery systems. From day one, the company reverse-engineered its product with an economics-driven approach. We believe this level of intentionality positions Exowatt as one of the most promising solutions for delivering abundant clean energy in a time of unprecedented demand.
Additional Resources
Solar-Powered Data Centers with Exowatt (Inevitable podcast)
Are you familiar with the effects of kilohertz fields (electromagnetic interference) of dirty electricity generated by most solar power inverters, which cause degradation of electronics and biological harm?