# Heat2Power funding: rounds and investors

> Heat2Power has raised $18M across 2 rounds since 2025. Every round with its source.

Source: https://millionrounds.com/company/heat2power (Millionrounds; every figure on the page links to its filing or article)

United States · [Venture startup](https://millionrounds.com/companies)

# Who invested in *Heat2Power*

2 rounds we have observed, with the 0 investors 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 7 months ago

Follow Heat2Power and see its new rounds in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Fcompany%2Fheat2power)

Funding summary Updated 7 Nov 2026

**$18M** raised across 2 rounds since 2025, from 2 sources

**$3.0M** Seed **$15M** Venture

- **Latest round:** Venture, $15M Apr 2026
- **Step-up i:** 5.1×
- **Investors:** 0

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.

2025 2026

**$3.0M** Seed

**$15M** Venture

- **First round:** Seed, $3.0M
- **Biggest round:** $15M
- **Between rounds:** 15 months

## The rounds

- **Apr 2026** Venture **$15M** No investor was named in the report. Source recorded SEC filing: $15M sold
- **Jan 2025** Seed **$3.0M** No investor was named in the report. Source recorded SEC filing: $3.0M sold, first sale Jan 2025

## Funding filed with regulators

Heat2Power filed 2 raises, $18M in all. Filings say how much was sold and to how many investors; they never name the investors.

- Apr 2026 **$15M** 3 investors of $18M offered SEC Form D
- Jan 2025 **$3.0M** 3 investors of $5.5M offered SEC Form D

## Founders and team

From Heat2Power's own website: 1 founder, 4 on the team.

**Stephen Forrest** Co-Founder, CEO

- **Julia Baldwin** Business Development Analyst
- **Sean McSherry** Director of Product Development
- **Thomas White** Senior Process Engineer
- **Vishal Venkatesh** Senior Process Engineer

## Also claim to have backed them

This firm lists Heat2Power as a portfolio company on their own website, but no report of a round names it. They are the firms' own claims, kept apart from the rounds above.

[Accelerate Blue Fund](https://millionrounds.com/fund/accelerate-blue-fund) VC firm Per its own site

## Quick answers about Heat2Power

### How much has Heat2Power raised?

Heat2Power has raised $18M across 2 rounds since 2025.

### When did Heat2Power last raise?

Heat2Power's most recent round was a Venture of $15M in Apr 2026.

### What was Heat2Power's biggest round?

Its most recent round, $15M in Apr 2026, is also its largest on record.

### What stage is Heat2Power at?

Heat2Power's latest named round is a Venture, in Apr 2026.

### Where is Heat2Power based?

Heat2Power is based in the United States.

## Companies like Heat2Power

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

[**Harbinger** $500M · Nov 2026](https://millionrounds.com/company/harbinger)[**Circularity Fuels** $15M · Nov 2026](https://millionrounds.com/company/circularity-fuels)[**Uranium Digital** $23M · Nov 2026](https://millionrounds.com/company/uranium-digital)[**Group14 Technologies** $632M · Oct 2026](https://millionrounds.com/company/group14-technologies)[**Mammoth Energy Services** $58M · Oct 2026](https://millionrounds.com/company/mammoth-energy-services)[**Emvolon** $22M · Oct 2026](https://millionrounds.com/company/emvolon)

## Find investors like these

Search every investor by what they have actually funded, then narrow to your stage and market. Free.

Open the investor searchOr these rounds in the app