Loveland – October 14, 2026 -- ATS Energy has closed a new financing round to fund commercial production of its Solid-State Generator (SSG), with the first commercial unit targeted for deployment by mid-2027. The Colorado company did not disclose the size of the round or the investors involved.
Capital targets thermoelectric cartridge production and the first commercial unit
Proceeds will fund production of ATS's proprietary thermoelectric cartridges, the core component of the SSG, and completion of the first commercial unit. The generator converts industrial waste heat directly into electricity without turbines or moving parts. ATS says the financing will shorten the time needed to produce and deliver later installations. The company aims to begin revenue-generating operations in 2027.
ATS relies on contract manufacturers to limit capital spending
Rather than build its own factories, ATS is developing a production model with specialized contract-manufacturing partners. Chief Operating Officer Terry Hill said the approach lets the company focus capital on technology, product and customers, and that ATS is working to reduce the time between installations. Edward Ganja has joined as Chief Technology Officer to guide the shift to commercial manufacturing.
Pipeline expands across industrial sectors after 2025 initial financing
ATS completed a friends-and-family financing in 2025 and has since seen accelerating market interest. CEO Doug Hudson said "markets are moving toward ATS Energy," citing commercial commitments, active proposals and a growing pipeline across multiple industrial sectors. The company did not disclose pipeline value or customer names.
Earthshot Prize winner adds CERAWeek runner-up finish
ATS won the 2024 Earthshot Prize in the Fix Our Climate category. It placed second in the Innovations for Traditional Energy, Electricity & the Grid category at the 2026 Energy Venture Day and Pitch Competition during CERAWeek.