Korea's SK Invests $100 Mn in US EV Charging Infrastructure Startup Atom Power

US EV charging startup Atom Power has closed a $100 million funding round backed by Korea's SK Inc. and SK Energy. SK has also acquired an additional $50 million stake in the North Carolina-based company. 

Atom Power has developed the world’s first digital power delivery solution for the last mile of charging.

By transforming power delivery from analog to digital, the company says it creates infinite flexibility and accelerates reliable deployments. 

Since unveiling the solid-state circuit breaker and launching its EV charging solution, Atom Power has landed a range of corporate customers, and secured the largest single contract, multi-family EV charging project in New York City. 

The investment in Atom Power follows SK pledging to invest $22 billion across a broad range of technology and clean tech industries in the United States. 

Ryan Kennedy, CEO of Atom Power, says: “Our mission is to power a more intelligent electrification of everything. The EV market is massive, rapidly growing, and desperate for a new way to scale, drive revenue and accelerate adoption/ Our technology is the perfect solution for this perfect storm. SK’s backing provides the capital and strategic alignment to support us in driving the new standard for digital power delivery across every industry.”

“We value the core technology of Atom Power, which is the primary driver in deciding to invest in Atom Power,” adds Moo-hwan Kim, EVP and Head of Green Investment Center at SK Inc. “As the major shareholder of Atom Power, we will move forward with Atom Power to expand the business to the entire US and ultimately globally, establishing a competitive energy solution platform.”

Atom Power invented the first and only commercial solid-state digital circuit breaker - the world’s safest and fastest circuit breaker for smart power distribution and more sustainable energy distribution.