# Advanced Thermovoltaic Systems funding: rounds and investors

> Advanced Thermovoltaic Systems has raised $7.9M across 2 rounds since 2025. Investors include Third Derivative. Every round with its source.

Source: https://millionrounds.com/company/advanced-thermovoltaic-systems (Millionrounds; every figure on the page links to its filing or article)

United States · [Pre-seed startup](https://millionrounds.com/companies)

# Who invested in *Advanced Thermovoltaic Systems*

2 rounds we have observed, with the one investor named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Energy

Raised 4 months ago

Funding summary Updated 26 Oct 2026

**$7.9M** raised across 2 rounds since 2025, from 3 sources

**$1.4M** Pre-seed **$6.5M** Round

- **Latest round:** Round, $6.5M Jul 2026
- **Step-up i:** 4.6×
- **Investors:** 1

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$1.4M** Pre-seed

**$6.5M** Round

- **First round:** Pre-seed, $1.4M
- **Biggest round:** $6.5M
- **Between rounds:** 13 months

## The rounds

- **Jul 2026** Round **$6.5M** No investor was named in the report. Filed with the SEC (Form D); no report of this raise yet and 1 other SEC filing: $6.5M sold, first sale Jul 2026
- **Jun 2025** Pre-seed **$1.4M** *1 new* [Third Derivative](https://millionrounds.com/fund/third-derivative) Source recorded

## Founders and team

From Advanced Thermovoltaic Systems's own website: 1 founder, 6 on the team.

**Mike Johnson** Founder, Secretary, & Director

- **Doug Hudson** Chief Executive Officer
- **Eric Beynon** Chief Impact Officer
- **Jonathan Candee** Chief Revenue Officer
- **Terry Hill** Chief Operating Officer
- **Kelly Adams** Chairman of the Board
- **Mike Marley** Board Member

Advisers *Edward Ganja* *Jeff Nygaard* *Steven Haehn* *Tom Roiniotis*

## Everyone who backed them

[Third Derivative](https://millionrounds.com/fund/third-derivative) Accelerator **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=advanced-thermovoltaic-systems).

## Quick answers about Advanced Thermovoltaic Systems

### Who invested in Advanced Thermovoltaic Systems?

Advanced Thermovoltaic Systems's investors include Third Derivative.

### How much has Advanced Thermovoltaic Systems raised?

Advanced Thermovoltaic Systems has raised $7.9M across 2 rounds since 2025.

### When did Advanced Thermovoltaic Systems last raise?

Advanced Thermovoltaic Systems's most recent round, $6.5M, was in Jul 2026.

### What was Advanced Thermovoltaic Systems's biggest round?

Its most recent round, $6.5M in Jul 2026, is also its largest on record.

### Who backed Advanced Thermovoltaic Systems first?

Advanced Thermovoltaic Systems's first round on record, in Jun 2025, was backed by Third Derivative.

### What stage is Advanced Thermovoltaic Systems at?

Advanced Thermovoltaic Systems's latest named round is a Pre-seed, in Jun 2025.

### Where is Advanced Thermovoltaic Systems based?

Advanced Thermovoltaic Systems is based in the United States.

## Companies like Advanced Thermovoltaic Systems

In the same sector, and raised in the last eighteen months.

[**Amogy** $125M · Oct 2026](https://millionrounds.com/company/amogy)[**LanzaJet** $67M · Oct 2026](https://millionrounds.com/company/lanzajet)[**Pivot Energy** $500M · Oct 2026](https://millionrounds.com/company/pivot-energy)[**Peak Energy** $163M · Oct 2026](https://millionrounds.com/company/peak-energy)[**Pennsylvania American Water** $43M · Oct 2026](https://millionrounds.com/company/pennsylvania-american-water)[**Vertical Semiconductor** $84M · Oct 2026](https://millionrounds.com/company/vertical-semiconductor)

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