ATS Energy, a Colorado-based developer of solid-state power generation technology, announced on October 14, 2026, that it has closed a new financing round to advance commercial production of its Solid-State Generator technology. The company converts industrial waste heat directly into electricity without turbines or moving parts. The capital will support production of proprietary thermoelectric cartridges and completion of the first commercial unit, targeted for deployment by mid-2027.
Advancing Toward Commercial Production
Industrial facilities generate large volumes of waste heat, much of which is released into the environment without producing additional value. ATS has developed a solid-state technology that captures this thermal energy and converts it directly into usable on-site electricity. According to Chief Executive Officer Doug Hudson, market interest has progressed from early commercial development to commercial commitments, active proposals, and a pipeline that continues to expand across multiple industrial sectors.
A Capital-Efficient Manufacturing Model
Rather than investing heavily in its own manufacturing facilities, ATS is building a production model supported by specialized contract manufacturing partners. The strategy is designed to leverage established capabilities, limit capital expenditures, and create a scalable foundation for future output. Chief Operating Officer Terry Hill said the company is focusing capital on technology, product, and customers while shortening the time between installations.
Strengthening Leadership for Scale
ATS has expanded its technical and commercial leadership with the addition of Edward Ganja as Chief Technology Officer. His role is intended to help guide the company through the transition to commercial-grade manufacturing. The expanded leadership team supports a broader effort to scale production capabilities and deliver mission-critical equipment to industrial customers.
Responding to Accelerating Market Demand
Since completing its initial friends-and-family financing in 2025, ATS Energy has experienced a rapid acceleration in market interest across energy-intensive industries. The company is now moving to scale commercialization to meet growing energy demand rather than waiting for demand to mature. This financing represents a shift from developing breakthrough technology to building a business positioned for commercial delivery at scale.
Deployment Timeline and Revenue Goals
The financing will enable ATS to complete its first commercial generator and build the production capabilities required for subsequent installations. The company expects the investment to shorten delivery timelines and support repeatable production as customer demand increases. This operational focus is designed to move ATS from proof-of-concept demonstrations to mission-critical industrial equipment while beginning revenue-generating operations in 2027.
Recognition and Industry Momentum
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 also earned second place in the Innovations for Traditional Energy, Electricity & the Grid category at the 2026 Energy Venture Day and Pitch Competition during CERAWeek. These milestones support its effort to establish waste heat-to-electricity conversion as a new source of industrial power.
With this latest financing, ATS Energy is moving from breakthrough innovation toward commercial scale and customer delivery. The investment is expected to reduce production timelines and support subsequent installations as demand continues to grow. The company remains focused on helping energy-intensive industries recover wasted heat, lower operating costs, and improve energy efficiency through its modular Solid-State Generators.