Exowatt Unveils Pioneering Modular Energy Platform to Revolutionize AI-Driven Renewable Energy in Data Centers

ANAHEIM, California, September 11, 2024–(BUSINESS WIRE)–Exowatt, a next-generation renewable energy company, today announced the launch of its flagship product, the Exowatt P3, a groundbreaking modular energy solution designed to meet the growing energy demands of data centers and energy-intensive industries. The announcement comes on the heels of Exowatt’s recent $20 million funding round, funded by a16z, Atomic and Sam Altman.

The Exowatt P3 is an innovative energy generation and storage solution offering a versatile system that delivers both dispatchable electrical power and high-temperature thermal energy. Its modular, scalable design makes it ideal for a wide range of applications, such as data centers and other commercial and industrial (C&I) applications.

The new Exowatt P3 features advanced technology that harnesses solar energy through specialized lenses and stores it in a long-lasting, energy-efficient thermal battery. Designed to fit into a compact 40-foot shipping container, this “install and forget” system offers minimal maintenance, adapting to the operational requirements of industries looking to reduce energy costs and environmental impact. The Exowatt P3 generates electricity at an industry-leading cost of just under 4 cents per kWh, providing a cost-effective renewable energy solution. With up to 24 hours of daily dispatchable energy storage and rapid scalability for projects of all sizes, the Exowatt P3 has the potential to reduce energy costs by up to $35 million and reduce CO2 emissions by 438,000 tons for the average data center project.

The Exowatt P3 is equipped with many innovative features and benefits, including:

• Modular and scalable: It can be implemented in projects of any size, adapting to workload and infrastructure needs.

• Innovative energy collection and storage: Uses thermal batteries for long-term storage and reliable energy generation.

• Low operating costs: Designed for minimal maintenance, reducing long-term operating costs.

• Zero carbon emissions: Supports sustainable development goals by providing clean, renewable energy.

• Made in the USA: Raw materials obtained and produced domestically, strengthening the country’s infrastructure and resilience.

“We are revolutionizing sustainable energy delivery with the Exowatt P3, a breakthrough clean energy technology solution,” said Hannan Parvizian, CEO of Exowatt. “The P3 is the world’s first full-stack modular energy solution that delivers reliable, affordable power solutions for AI-driven data centers and industrial applications. Exowatt is committed to driving innovation and sustainability in the energy industry, and our technology will play a critical role in global energy supply.”

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The Exowatt P3 addresses several key issues with current renewable energy solutions, including:

• Available energy: It provides energy on demand, unlike traditional renewable energy sources that produce energy intermittently.

• Built-in storage: Equipped with a low-cost, built-in thermal storage system, eliminating the need for expensive electrochemical batteries.

• Versatile output: Ability to meet 90% of industrial energy needs, both electrical and thermal.

• Fast implementation: They can be installed quickly, unlike traditional baseload power plants that take a long time to set up.

• Sustainable supply chain: Made from sustainably sourced materials that do not require mining or dependence on foreign supplies of rare earth minerals.

Exowatt has a backlog of more than 1.2 gigawatts of demand for data centers across the United States and plans to begin deployments this year. Interested customers can learn more about the partnership opportunities and begin ordering the Exowatt P3 now by visiting www.exowatt.com.

The new Exowatt P3 was unveiled at an event organized as part of RE+ 2024, the largest clean energy event in North America, in Anaheim, California.

About Exowatt

Exowatt is a next-generation renewable energy company that delivers modular energy solutions tailored to energy-intensive applications such as data centers. Founded in 2023 by Hannan Parvizian and Atomic CEO Jack Abraham, Exowatt’s mission is to ensure that sustainable renewable energy is always available and nearly free. Exowatt is backed by a16z, Atomic, and Sam Altman and is headquartered in Miami, Florida.

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