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Climate Tech

Chris Womack and Chris Wright.
AM Briefing

Southern Comfort

On nuclear tax credits, BLM controversy, and a fusion maverick’s fundraise

AM Briefing

Trump’s Data Center Defense

On Cybertruck deaths, Texas wind waste, and American aluminum

Red
Climate Tech

Inside Form Energy’s Big Google Data Center Deal

The long-duration energy storage startup is scaling up fast, but as Form CEO Mateo Jaramillo told Heatmap, “There aren’t any shortcuts.”

Yellow
A power worker.

White Out

On geoengineering, Boston Metal’s setback, and French fusion

Green
Solar panels and a wind turbine.

Renewables’ Year of Defiance

On the California atom, Russian nuclear theft, and Taiwan’s geothermal hope

Green
Climate Tech

Funding Friday: Transforming the Game

Heron Power and DG Matrix each score big funding rounds, plus news for heat pumps and sustainable fashion.

A DG Matrix worker.
<p>Heatmap Illustration/Getty Images, DG Matrix</p>

While industries with major administrative tailwinds such as nuclear and geothermal have been hogging the funding headlines lately, this week brings some variety with news featuring the unassuming but ever-powerful transformer. Two solid-state transformer startups just announced back-to-back funding rounds, promising to bring greater efficiency and smarter services to the grid and data centers alike. Throw in capital supporting heat pump adoption and a new fund for sustainable fashion, and it looks like a week for celebrating some of the quieter climate tech solutions.

Heron Power Nabs $140 Million to Reinvent the Humble Transformer

Transformers are the silent workhorses of the energy transition. These often-underappreciated devices step up voltage for long-distance electricity transmission and step it back down so that it can be safely delivered to homes and businesses. As electrification accelerates and data centers race to come online, demand for transformers has surged — more than doubling since 2019 — creating a supply crunch in the U.S. that’s slowing the deployment of clean energy projects.

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AM Briefing

Loaded Barrel

On geothermal’s heat, Exxon Mobil’s CCS push, and Maine’s solar

Donald Trump.
<p>Heatmap Illustration/Getty Images</p>

Current conditions: More than a foot of snow is blanketing the California mountains • With thousands already displaced by flooding, Papua New Guinea is facing more days of thunderstorms ahead • It’s snowing in Ulaanbaatar today, and temperatures in the Mongolian capital will plunge from 31 degrees Fahrenheit to as low as 2 degrees by Sunday.

THE TOP FIVE

1. Oil prices jump as Trump threatens to attack Iran

We all know the truisms of market logic 101. Precious metals surge when political volatility threatens economic instability. Gun stocks pop when a mass shooting stirs calls for firearm restrictions. And — as anyone who’s been paying attention to the world over the past year knows — oil prices spike when war with Iran looks imminent. Sure enough, the price of crude hit a six-month high Wednesday before inching upward still on Thursday after President Donald Trump publicly gave Tehran 10 to 15 days to agree to a peace deal or face “bad things.” Despite the largest U.S. troop buildup in the Middle East since 2003, the American military action won’t feature a ground invasion, said Gregory Brew, the Eurasia Group analyst who tracks Iran and energy issues. “It will be air strikes, possibly commando raids,” he wrote Thursday in a series of posts on X. Comparisons to Iraq “miss the mark,” he said, because whatever Trump does will likely wrap up in days. The bigger issue is that the conflict likely won’t resolve any of the issues that make Iran such a flashpoint. “There will be no deal, the regime will still be there, the missile and nuclear programs will remain and will be slowly rebuilt,” Brew wrote. “In six months, we could be back in the same situation.”

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