Loveland, Colorado, October 14th / PRNewswire / -- ATS Energy Today, the company announced the completion of a new round of financing to advance the commercial production of its solid-state generator (Solid - State Generator, SSG) technology. The technology developed by this company can directly convert industrial waste heat into electricity.

ATS indicates that the company has verified this technology, established a considerable commercial pipeline, and expanded its management and operational capabilities. The company is currently building the production capacity required to deliver this pipeline, and this investment will help it complete this transition.

New funds will be used to support the production of ATS proprietary thermoelectric chips, which are the core components of their solid-state generators and are used to complete the first commercial unit. The company aims to deploy this unit by the middle of 2027. This financing will also shorten the production and delivery times for subsequent units to meet the growing demands of customers.

From breakthrough technology to commercial production

Industrial facilities generate a large amount of waste heat, a significant portion of which is discharged into the environment without creating any additional value. ATS has developed a solid-state technology that can directly convert this otherwise wasted thermal energy into usable electricity without the need for turbines or moving parts.

The focus for the company in the next phase is to transform this innovation into commercial production.

ATS CEO Doug Hudson stated: "It has taken us many years to build a reliable track record of breakthrough technologies. Over the past year, the market has been moving towards ATS Energy. We have far surpassed the early stages of interest and have entered a phase of commercial commitments, active proposals, and a pipeline that continues to expand across multiple industrial sectors. This puts us in an excellent position to seize this opportunity in providing energy for industry. This investment responds to real business opportunities and also enables ATS Energy to expand production, accelerate the fulfillment of customer needs, and drive commercial deployment."

Create more efficient manufacturing operations in terms of capital utilization.

ATS has not made large-scale investments in its own manufacturing facilities but is instead developing a production model supported by professional contract manufacturing partners. This strategy aims to leverage existing manufacturing capabilities, limit capital expenditures, and provide a scalable foundation for future production.

ATS has also strengthened its technical and commercial leadership team, including the appointment of the Chief Technology Officer Edward Ganja, to assist the company in transitioning to commercial manufacturing.

These investments collectively support the goal of ATS, which is to deploy the first commercial generator and start generating revenue in 2027, while also establishing the production capacity necessary to support installations for more customers.

ATS Chief Operating Officer Terry Hill stated: "We are expanding our manufacturing scale with the discipline required for commercial-grade industrial deployment, moving from the proof-of-concept phase to delivering mission-critical equipment. We have been building our supply chain, seeking suitable manufacturing partners, and establishing processes to achieve repeatable production. By leveraging contract manufacturing, we can focus our capital on technology, products, and customers, rather than on building factories. Equally important is that we are working to reduce the time between two installations in order to respond to market demand."

Advancing on the basis of rapid commercial momentum

Since completing its initial round of financing from relatives and friends in 2025, ATS Energy has seen a rapid increase in market interest and is moving from the early stages of commercial development towards establishing a considerable pipeline of opportunities in high-energy-consuming industries.

This momentum creates opportunities for the company to accelerate its commercialization timeline. ATS has not waited for demand to mature; instead, it is accelerating commercialization to meet the growing energy demands.

For ATS, this investment not only signifies an increase in capital but also marks a shift for the company from developing breakthrough technologies to becoming an enterprise capable of delivering these technologies on a commercial scale.

Continue to advance on a globally recognized basis

ATS won the 2024 Earthshot Prize "Fix Our Climate" award in recognition of its technology's potential to address one of the largest sources of energy in industry. The company continues to gain recognition in the global energy sector, including finishing second in the "Traditional Energy, Power, and Grid Innovation" category at the 2026 Energy Venture Day and Pitch Competition held during the CERAWeek period.

As industrial operators seek higher energy efficiency, reliable on-site power supply, and lower operating costs, ATS is striving to transform waste heat into electricity as a new source of industrial power.

About ATS Energy

ATS Energy is headquartered in Loveland, Colorado, and develops solid-state power generation technology that can directly convert industrial waste heat into usable electricity without the need for moving parts. Its proprietary thermoelectric chips and modular solid-state generators are designed to help high-energy-consuming industries recover energy that would otherwise be wasted, reduce operating costs, and improve energy efficiency. ATS won the 2024 Earthshot Prize "Fix Our Climate" award in that category.

Learn more: www.ats.energy.

Media contact: Liz Deets