247Solar Taps $25M Funding To Mass-Produce Modular Clean Energy Systems And Launch 3.5 MW Industrial Solution By 2027

247Solar, the MIT-born innovator providing clean, always-on industrial heat and electricity for commercial and industrial customers, has announced the launch of a $25 million Series B capital raise. The funding round is intended to accelerate the deployment of 247Solar’s technology and expand its reach into global markets. So far, the company has secured $3.5 million from existing investors, with additional commitments currently under due diligence.

The new capital will support the advancement of 247Solar’s $250 million active project pipeline across six continents, which includes projects with a Top-20 global utility, off-grid mining operations, and other industrial applications. To assist with the Series B offering, 247Solar has retained MaxEn Capital Advisors, a firm with extensive experience in energy project finance, project development, and capital structuring.

Howard Margulis, Senior Managing Director at MaxEn, emphasized that 247Solar addresses one of the biggest challenges in industrial decarbonization by providing high-temperature process heat while also generating clean electricity. Industrial companies around the world are under increasing pressure to decarbonize their energy use without compromising reliability, cost, or performance.

Approximately 60% of industrial energy consumption is used to produce heat, usually generated by burning fossil fuels. 247Solar’s modular, factory-built system offers a solution to this problem by harnessing solar energy to deliver reliable, high-temperature process heat alongside continuous clean electricity. By meeting both heat and power requirements simultaneously, customers can reduce energy costs by 25% or more and cut carbon emissions by up to 95%, while also improving operational performance and reliability.

With roots at MIT and more than 40 global patents, 247Solar’s platform has attracted attention across mining, data centers, hydrogen production, desalination, and utility markets. Its project pipeline spans Africa, India, Europe, Australia, South America, and North America, including emerging markets often overlooked, with project values ranging from $5 million to more than $500 million. The Series B funding will be used to scale 247Solar’s energy-as-a-service model, which de-risks projects for both investors and customers through build-own-operate structures and long-term power purchase agreements.

The funds will also support cost reductions and mass production of core technologies, the launch of a new industrial thermal battery capable of delivering clean heat and electricity from solar, wind, or grid sources, and the development of a larger 3.5 MW solution, up from the current 400 kW module, expected to be fully engineered by mid-2026 and ready for deployment in 2027. Additionally, the funding will help expand 247Solar’s business development and commercial team to enter new markets.

Bruce Anderson, CEO of 247Solar, stated that the company exists to close the industrial clean energy gap by delivering reliable, cost-saving, round-the-clock performance that conventional PV solar alone cannot provide. The Series B funding marks a decisive step in scaling 247Solar’s technology and establishing it as a standard solution for decarbonizing some of the world’s most energy-intensive industrial operations.