# Exowatt — Capital Time Machine

Exowatt’s P3 platform collects sunlight, stores energy as heat and converts it into electricity on demand. Its ExoRise arm combines energy infrastructure with land for data centers.

Canonical citation: https://capitaltimemachine.com/private/exowatt

Dataset revision: ctm-research-2026-10-01; evidence register reviewed: 2026-10-01. Each observation retains its own check date.

Publisher: CapitalTimeMachine. Methodology: https://capitaltimemachine.com/methodology



## What this supports

Historical financing evidence plus valuation, dilution and fee assumptions or comparable private prices you enter. No sourced per-share return or IPO endpoint is established.

## Limitations

- Historical research and hypothetical arithmetic, not live quotes, investment advice or an offer to invest.

- Company valuation changes are not shareholder returns. Financing, dilution, security rights and exit access matter.

- IPO offer-price marks are not realized sale proceeds; minimum investments and access are not established.

- User-entered prices and valuations are assumptions, not sourced observations. Fee and carry treatment is stated by each method; taxes and distributions are excluded.

- Selected surviving companies are not representative of private-market outcomes; investments may lose all value.

## Sourced observations

### EXOWATT-1 — Seed

Value: 20000000 USD; scope: funding_raised

Date: 2024-04-22; precision: day; role: announcement; actual investment date: not established

Security: not established; share basis: not_established

Verification: primary_verified; checked: 2026-10-01

Announced backing from a16z, Atomic and Sam Altman.

Source: [Exowatt — Exowatt launches with $20M](https://www.exowatt.com/news/exowatt-launches-with-20-million-to-modernize-data-center-power-for-the-ai-era)

Source location: Exowatt launches with $20M; financing disclosure

Citation: https://capitaltimemachine.com/private/exowatt#EXOWATT-1

### EXOWATT-2 — Series A · equity portion

Value: 35000000 USD; scope: equity_funding_raised

Date: 2025-04-22; precision: day; role: announcement; actual investment date: not established

Security: not established; share basis: not_established

Verification: primary_verified; checked: 2026-10-01

The $70M financing comprises $35M equity and $35M debt. Felicis led.

Source: [Exowatt — Exowatt closes $70M Series A](https://www.exowatt.com/news/exowatt-closes-70-million-in-series-a-funding-to-deploy-and-scale-the-exowatt-p3)

Source location: Exowatt closes $70M Series A; financing disclosure

Citation: https://capitaltimemachine.com/private/exowatt#EXOWATT-2

### EXOWATT-3 — Series A · debt portion

Value: 35000000 USD; scope: debt_financing

Date: 2025-04-22; precision: day; role: announcement; actual investment date: not established

Security: not established; share basis: not_established

Verification: primary_verified; checked: 2026-10-01

Debt provided by HSBC Innovation Banking and other lenders; not company equity value.

Source: [Exowatt — Exowatt closes $70M Series A](https://www.exowatt.com/news/exowatt-closes-70-million-in-series-a-funding-to-deploy-and-scale-the-exowatt-p3)

Source location: Exowatt closes $70M Series A; financing disclosure

Citation: https://capitaltimemachine.com/private/exowatt#EXOWATT-3

### EXOWATT-4 — Series A extension

Value: 50000000 USD; scope: funding_raised

Date: 2025-11-12; precision: day; role: announcement; actual investment date: not established

Security: not established; share basis: not_established

Verification: primary_verified; checked: 2026-10-01

MVP Ventures and 8090 Industries led; capital mix not separately established. Dateline November 12; page dated November 13.

Source: [Exowatt — Exowatt announces additional $50M](https://www.exowatt.com/news/www-exowatt-com-news-series-a-additional-50m-press-release)

Source location: Exowatt announces additional $50M; financing disclosure

Citation: https://capitaltimemachine.com/private/exowatt#EXOWATT-4

### EXOWATT-5 — Cumulative financing reported

Value: 140000000 USD; scope: cumulative_funding

Date: 2025-11-12; precision: day; role: announcement; actual investment date: not established

Security: not established; share basis: not_established

Verification: primary_verified; checked: 2026-10-01

Includes prior debt financing; do not describe the total as venture equity alone.

Source: [Exowatt — Exowatt announces additional $50M](https://www.exowatt.com/news/www-exowatt-com-news-series-a-additional-50m-press-release)

Source location: Exowatt announces additional $50M; financing disclosure

Citation: https://capitaltimemachine.com/private/exowatt#EXOWATT-5

## Early-stage company research

Can stored sunlight power AI after dark?

Exowatt’s P3 platform collects sunlight, stores energy as heat and converts it into electricity on demand. Its ExoRise arm combines energy infrastructure with land for data centers.

Reviewed 2026-10-01. Founded 2023 · Miami, Florida. Founders: Hannan Happi (named Hannan Parvizian in the launch release) and Jack Abraham.

Funding: $140M. Reported financing total in November 2025; includes debt, not solely equity.

Valuation: Undisclosed. No company valuation verified in the reviewed financing announcements.

## Products and commercial evidence

- System architecture: Collect → store → dispatch. P3 combines a heat collector, thermal battery and heat engine. Source: https://www.exowatt.com/news/exowatt-launches-with-20-million-to-modernize-data-center-power-for-the-ai-era

- Operating target: Up to 24 hours daily. Company-described capability, dependent on system design and operating conditions; not an independently verified availability guarantee. Source: https://www.exowatt.com/news/exowatt-closes-70-million-in-series-a-funding-to-deploy-and-scale-the-exowatt-p3

- Demand pipeline: 90+ GWh. Company-reported signed demand backlog in January 2026. GWh is energy, not revenue or installed GW of generating capacity. Source: https://www.exowatt.com/news/exowatt-launches-exorise-to-deliver-turnkey-powered-land-and-energy-for-the-ai-era

- Deployment plan: ExoRise pilot by end-2026. Announced target for powered-land projects in high-solar U.S. regions; completion not verified in this review. Source: https://www.exowatt.com/news/exowatt-launches-exorise-to-deliver-turnkey-powered-land-and-energy-for-the-ai-era

## Business milestones

- 2024-04-22 — Launch and seed financing: P3 introduced as a modular thermal energy system for energy-intensive customers. Source: https://www.exowatt.com/news/exowatt-launches-with-20-million-to-modernize-data-center-power-for-the-ai-era

- 2026-01-21 — ExoRise launched: Powered-land offering combines site development with dispatchable solar infrastructure. Source: https://www.exowatt.com/news/exowatt-launches-exorise-to-deliver-turnkey-powered-land-and-energy-for-the-ai-era

- 2026-09-24 — Project Abundance: New initiative and master plan describe a broader energy-scaling vision; this is a strategy announcement, not evidence of new financing or completed deployments. Source: https://www.exowatt.com/news/exowatt-launches-project-abundance

## CTM interpretation

Thermal storage could shift solar output into hours when data centers still need power. The key questions are installed cost, actual delivered electricity, reliability and project financing at commercial scale.

Potential upside: Repeatable manufacturing and colocated power could shorten time-to-power if the hardware and development model work at scale.

Execution risks: Solar resource, land, thermal losses, heat-engine efficiency, permitting, capital intensity and debt service can change economics substantially.

## Unresolved questions

- The $140M financing headline is not a company valuation and cannot be used as the calculator’s entry valuation.

- The 2024 ambition of electricity as low as $0.01/kWh is a future scaling target, not verified realized project economics.

- Signed demand, pilot plans and strategy announcements do not establish delivered capacity, recognized revenue or binding project profitability.

- No verified per-share financing price, fully diluted capitalization, security conversion or investor liquidation waterfall is established in this profile.

- Audited revenue, margins, cash burn, runway and customer concentration were not verified in the reviewed public sources.

- Private shares may be illiquid, unavailable to a particular investor, diluted or worth zero. Scenario outputs do not establish investment access or a sale.

## Scenario method

All four companies support user-entered entry and ending equity valuations, cumulative dilution, an upfront fee and carry on gains above the original outlay. This is a pro-rata equity sensitivity model, not a verified holding or historical return. Entry valuations are USD millions. Ending valuation may be zero. Funding raised is never substituted for valuation. Two comparable private share prices may also be entered in the separate private-price mode.

## Sources

- Exowatt launches with $20M | 2024-04-22 | Company announcement | https://www.exowatt.com/news/exowatt-launches-with-20-million-to-modernize-data-center-power-for-the-ai-era

- Exowatt closes $70M Series A | 2025-04-22 | Company announcement | https://www.exowatt.com/news/exowatt-closes-70-million-in-series-a-funding-to-deploy-and-scale-the-exowatt-p3

- Exowatt announces additional $50M | 2025-11-12 | Company announcement | https://www.exowatt.com/news/www-exowatt-com-news-series-a-additional-50m-press-release

- Exowatt launches ExoRise | 2026-01-21 | Company announcement | https://www.exowatt.com/news/exowatt-launches-exorise-to-deliver-turnkey-powered-land-and-energy-for-the-ai-era

- Project Abundance announcement | 2026-09-24 | Company announcement | https://www.exowatt.com/news/exowatt-launches-project-abundance

## Calculation options

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    "method": "early-stage-equity-sensitivity-1",
    "mode": "early_stage",
    "inputs": [
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    "basis": "User-assumed pro-rata equity; USD millions for valuations, USD for amount; fee deducted at entry; carry only on gains above original amount."
  },
  "ipo_offer_models": [],
  "valuation_comparisons": [],
  "user_entered_private_prices": true,
  "entered_public_price_review": null,
  "public_ipo": null
}

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