GREAT FALLS, Va. , Dec. 01, 2025 (GLOBE NEWSWIRE) — 247Solar, the MIT-born innovator of clean, always-on industrial heat plus electricity for commercial and industrial customers, today announced the launch of a $25 million Series B capital raise.
Aimed at accelerating project deployment and advancing 247Solar’s breakthrough solution to global markets, the round has already secured $3.5 million from existing investors, with additional commitments under active due diligence.
The new funding will help the company advance its $250M active pipeline on six continents that includes a Top-20 global utility, off-grid mining operations, and other applications.
The Company has retained MaxEn Capital Advisors to advise on the offering. MaxEn Capital Advisors has a long history of providing technical and financial consulting in the energy space, with expertise in project finance, project development and capital structuring.
“With it’s unique ability to decarbonize high-temperature industrial heat while also providing clean electricity, 247Solar addresses one of the biggest challenges of all in industrial decarbonization,” says Howard Margulis, MaxEn’s Senior Managing Director. “We look forward to bringing the Company together with investors and funding sources that also realize the enormous potential of this technology.”
Solving industry’s hardest energy challenge
Industrial companies worldwide face the urgent need to decarbonize their energy use — without sacrificing reliability, cost, or performance. And 60% of industrial energy use across sectors is to produce heat, not power, typically by burning fossil fuels.
247Solar’s factory-built, modular system uniquely solves this challenge, harnessing the sun’s energy to offer highly reliable, high-temperature process heat and also around-the-clock clean electric power.
By addressing their power and heat needs simultaneously, customers can cut their energy bills by 25% or more and reduce carbon emissions by as much as 95%. In addition, 247Solar solutions typically increase reliability and improve performance.
247Solar solutions provide clean industrial heat and power around the clock. Artist conception: 247Solar
Funding use and next milestones
With origins at MIT and more than 40 patents globally, 247Solar’s next-generation platform has attracted attention across mining, data center, hydrogen, and desalination markets, as well as electric utilities.
The company’s pipeline and near-term projects span Africa, India, Europe, Australia, and South America, as well as North America — including emerging markets that tend to be forgotten — with project values from $5 million to over $500 million.
The Series B capital will fund:
- Scaling of 247Solar’s energy-as-a-service model to de-risk projects for both investors and customers (build-own-operate, with long-term PPAs)
- Driving cost reductions and mass production of core technologies
- Bringing a new industrial thermal battery to market, to deliver both clean heat and electricity from PV, wind or the grid.
- Advanced development of a new, larger 3.5 MW solution (versus the current 400 kW module), to be fully engineered by mid-2026 and ready for deployment in 2027
- Expanding the company’s business development and commercial team to enter new markets
247Solar anticipates its industrial heat-plus-power technology to rapidly expand as the PV solar, battery energy storage, and wind energy markets have before.
A decisive moment for industrial energy capacity
“247Solar exists to close the industrial clean energy gap—by delivering reliability, cost-savings, and round-the-clock performance that PV solar alone can’t match,” said CEO Bruce Anderson. “With this Series B, we’re scaling what we believe will become the industry standard for decarbonizing the world’s toughest energy loads.”
About 247Solar
247Solar offers modular, always-on renewable power and heat to industrial and infrastructure customers globally. With a platform based on MIT innovation and a deep portfolio of IP, the company enables customers to progress toward net-zero with economic competitiveness and high reliability. Learn more at www.247solar.com.
Media contact: Peter Kelley
[email protected], 202-270-8831
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7bae8471-cef1-4dc5-8971-69200b8a7138
