MTPV Power Corporation develops semiconductor chips that convert heat directly into electricity. Its technology is described as analogous to a solar panel, but for any source of heat. The company is led by President and CEO David Mather and is based in Medford, MA and Austin, TX. It raised $16M in a Series C financing to support expansion. The company said it will use the funds to expand operations and broaden its business reach. The round included lead and follow-on investors supporting continued commercialization efforts. MTPV Power Corporation develops semiconductor chips that convert any source of heat into electricity. The technology was developed over roughly 15 years beginning at MIT and Draper Laboratory and has been advanced in MTPV's labs for the last five years. The company’s patent portfolio includes five awarded patents, nine pending awards and over 48 foreign patent filings. MTPV is led by Bob DiMatteo and David Mather and is based in Austin, TX and Boston, MA. It raised $11.2M in a Series B1 financing and intends to use the proceeds to begin commercializing its technology. Investors in the round include Northwater Capital Management's Intellectual Property Fund and other energy and finance investors. MTPV Power develops modular semiconductor chips that convert heat directly into electricity, based on research at MIT. The company’s chips are designed to generate electricity using 45% less heat than traditional systems. Leadership includes CEO and founder Bob DiMatteo and President/COO David Mather. MTPV is Austin, TX–based. The company completed the final closing of its Series B with an additional $3.25M. That funding closed out a round that began with a $6.75M closing in August of the prior year. MTPV develops semiconductor chips designed to convert heat directly into electricity, based on research at MIT. The company is led by CEO and founder Bob DiMatteo and is headquartered in Austin, TX. It is commercializing its first prototypes and is conducting beta testing of those initial commercial units. MTPV plans to use the new funding to expand beta testing and to scale its manufacturing capabilities. Financially, the company has completed an initial closing of its Series B and is pursuing additional equity to finish the round.

Total raised

$37M

Funding rounds

4

Latest round

Series C

Latest activity

Oct 2018