IONATE
IONATE develops solid-state Hybrid Intelligent Transformers (HITs) and the Aurora Neuralis AI platform for electric utilities, enabling dynamic grid management as a drop-in replacement for conventional distribution transformers.
- Company typePrivate
- Founded2019
- HeadquartersEdinburgh, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What IONATE does
IONATE is a deep-tech energy company founded in 2019, headquartered in London (relocated from Edinburgh in 2025), that has developed the Hybrid Intelligent Transformer (HIT) — a solid-state transformer combining power electronics, embedded sensing, and AI-driven control. HITs are designed as drop-in replacements for conventional distribution transformers, allowing utilities to upgrade substations without redesigning footprints, install crews, or supply chains. Each deployed unit streams real-time, kilohertz-level electrical data into the company's proprietary Aurora Neuralis platform, which uses digital-twin-based orchestration to coordinate distributed HITs across the network for dynamic power flow management, renewable integration, and grid services.
The company's business model is anchored in hardware sales to electric utilities, with a growing software-revenue lever through Aurora Neuralis. Go-to-market is utility-direct and partnership-led: EDP has hosted a live grid deployment since 2023, National Grid Electricity Distribution and IBNE are UK reference customers, and regional manufacturing partnerships — JST for the US (Feb 2026) and Magtech/Nortrafo for the Nordics with a data-center focus (June 2026) — extend commercial reach without proportional capex. First commercial HIT shipments are scheduled for H2 2026.
IONATE has raised approximately $20–21 million cumulatively across a £3.3M seed (2022), NATO DIANA grants (€100K plus up to €300K follow-on), and a $17M Series A in February 2025 led by AlbionVC. The company has been recognized as a World Economic Forum Technology Pioneer and a 2025 Cleantech 100 company, and headcount doubled in 2025 ahead of commercial scale-up.
IONATE firmographics
Firmographics- Name
- IONATE
- Legal name
- Ionate Limited
- Website
- https://ionate.energy
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- IONATE develops solid-state Hybrid Intelligent Transformers (HITs) and the Aurora Neuralis AI platform for electric utilities, enabling dynamic grid management as a drop-in replacement for conventional distribution transformers.
- Ownership category
- akta.pro rank
IONATE industry classification
Industry- Product category
- Smart Grid Power Electronics
- NAICS
- Power, Distribution, and Specialty Transformer Manufacturing (335311), Switchgear and Switchboard Apparatus Manufacturing (335313), Relay and Industrial Control Manufacturing (335314), Instrument Manufacturing for Measuring and Testing Electricity and Electrical Signals (334515)
- SIC
- Power, Distribution & Specialty Transformers (3612), Switchgear & Switchboard Apparatus (3613), Instruments For Meas & Testing Of Electricity & Elec Signals (3825), Services-Computer Integrated Systems Design (7373)
- akta.pro primary industry
- Protection, Control & Monitoring (Relays, RTUs, Fault Recorders, Condition Monitoring) (IMAGAAAD)
- akta.pro secondary industry
- Protection, control & substation automation engineering (relay/RTU/IEC 61850) (EUADAKAD)
Keywords
Where IONATE is headquartered
LocationHeadquarters
- HQ city
- Edinburgh
- HQ country
- United Kingdom
- HQ region
- Europe
Offices4 records
Markets served
IONATE business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales
Revenue model
- Hybrid Intelligent Transformer (HIT) Hardware Sales: Sale of smart transformer hardware to utilities, data centers, and industrial customers. Direct sales and through manufacturing partners (JST, Magtech). First 3 MVA, 34.5kV and 13.2kV-rated units available in H2 2026.
- Aurora Software Platform Licensing: AI-enabled grid management software licensing for coordination of HIT networks. Software-as-a-service model for ongoing platform access and updates.
- Professional Services: Installation, commissioning, and ongoing technical support services for HIT deployments. Design studies and testing services (e.g., with Labelec for EDP).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Multi-year contract | Custom enterprise pricing based on specifications |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels7 records
IONATE product offering
Product offeringCore offering
IONATE designs and manufactures the Hybrid Intelligent Transformer (HIT), a smart transformer that combines conventional transformer magnetics with solid-state power electronics to deliver real-time power flow control, voltage regulation, phase balancing, harmonic mitigation, and reactive power control in a single device. Alongside the HIT hardware, IONATE sells the Aurora Neuralis software platform, an AI-enabled system that coordinates networks of HIT devices into a distributed control layer for system-level grid optimization. The offerings are sold to utilities, data center operators, and large industrial customers.
Product overview
IONATE offers a unified hardware-software platform comprising the Hybrid Intelligent Transformer (HIT) and Aurora Neuralis software. The HIT is a smart transformer that replaces traditional passive transformers with precision power flow control capabilities. The Aurora platform connects multiple HITs to create a distributed control layer for system-level optimization. Together, these products transform rigid power networks into flexible, efficient, and resilient smart grids.
Differentiator
Problem solved
Functional benefit
Products and services
- Hybrid Intelligent Transformer (HIT) A smart transformer that replaces traditional passive transformers by combining conventional transformer magnetics with solid-state power electronics. Provides precision real-time power flow control, stepless voltage regulation, phase balancing, voltage and current harmonic mitigation, and four-quadrant reactive power control in a single device. Available in 3 MVA, 34.5kV and 13.2kV ratings; ready for 36-72 kV applications. Sold to utilities, data centers, and industrial customers.
- Aurora Neuralis Platform AI-enabled software platform that connects and orchestrates multiple HIT devices in real time, creating a distributed control layer across power systems. Enables system-level optimization for efficiency, resilience, and lightning-fast power flow management for grids, data centers, and industrial facilities.
Quantifiable outcome
- Handle 33% more distributed energy resources (DERs)
- +2 more outcomes
Companies that use IONATE
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
IONATE technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability4 records
Feature4 records
IONATE partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Magtech AS / Nortrafo GroupcoreManufacturing partnership for Nordic AI data centers and industrial applications. Magtech integrates HIT technology into its custom transformer systems manufactured at Steinkjer facility, Norway. Initial deployments scheduled for 2026 across data center, industrial and utility projects in Nordic region.
- JST Power EquipmentcoreStrategic manufacturing partnership for US market. JST manufactures and brings to market transformers integrating IONATE's HIT technology. Volume production at JST's North American facilities including Wytheville, VA. First 3 MVA, 34.5kV and 13.2kV-rated HITs available to US customers in H2 2026.
- Greentown Labs / M-LabminorSelected for Greentown Go x M-Lab 2025 program supporting startups in grid management technologies. Aims to catalyze pilot projects, collaborations, and investments.
- NATO DIANAcoreDefense Innovation Accelerator for the North Atlantic. IONATE selected for Phase II Grow among 10 companies from original 44. Non-dilutive funding up to €300,000, tailored programming, investor networking, and adoption opportunities.
- National Grid Electricity DistributioncoreCollaboration on cutting-edge grid solution announced in 2024. Partnership for grid innovation towards Net Zero.
- EDP / E-REDEScoreTechnology testing partnership with live grid deployment. IONATE's HITs deployed in Portugal and Spain with Labelec testing, before permanent deployment with E-REDES. Also planned deployment in Brazilian market with EDP. First customer for IONATE's technology.
- Infra Balance New Energy (IBNE)minorCollaboration for flexible power solutions in UK. IBNE utilizing IONATE's HIT technology in their power generating projects. First pilot project launching 2023, followed by deployment in IBNE's portfolio of projects and partner distribution grids in UK.
- University of EdinburghcoreResearch collaboration since 2020. University's School of Engineering helped build initial prototype. Dr Michaël Merlin holds Industrial Fellowship allowing 40% time with IONATE. Old College Capital is the venture arm.
- Free ElectronsminorWorld's largest energy technology scale-up programme co-led by EDP. Selected among top 15 from 500 applicants. Working with utility partners for technology trials.
- Tech NationminorSelected for Net Zero 3.0 cohort. Government-backed program providing access to investment, education, talent, and platform.
- ORE Catapult Launch AcademyminorSelected for Launch Academy 2022 to tailor HIT technology for offshore wind applications. Industry support from bp, ScottishPower, Scottish Enterprise.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
IONATE competitors and assessment
Company assessmentBroad incumbents
- ABB: Global power and automation giant offering transformers, switchgear, and grid solutions. Directly competes with IONATE's HIT in utility and industrial transformer procurement, but as part of a much broader portfolio rather than a focused hybrid solution.
- Siemens Energy: Major transformer manufacturer and grid technology provider serving utilities and industrial customers worldwide. Comparable to IONATE through its power transformers and grid software portfolio, though without a hybrid solid-state architecture.
- Hitachi Energy: Leading transformer and grid automation provider offering distribution transformers, traction transformers, and grid management software. Directly competes for IONATE's utility transformer customers with full vertical integration and established service networks.
- GE Vernova: GE's power and grid solutions spin-off covering transformers, HVDC systems, and grid software. Direct overlap with IONATE's HIT and Aurora offerings; notably IONATE's new CTO Dr. Tianning Xu came from GE Grid Solutions.
- Schneider Electric: Global energy management and automation company with a large transformer, switchgear, and grid software portfolio. Targets the same data center, utility, and industrial customers as IONATE with established distribution.
- Eaton: Power management company with significant transformer, switchgear, and power quality offerings for utilities, data centers, and industrial customers. Overlaps with IONATE in power conditioning and voltage regulation use cases.
- Enphase Energy: Power electronics company focused on solar inverters, batteries, and grid services. Comparable to IONATE through its distributed power electronics platform addressing renewable integration and grid edge applications, with a much larger installed base and recurring software revenue.
Direct peers
- Smart Wires: US-based power flow control technology company using modular STATCOM-like devices to optimize grid capacity. Closest direct competitor to IONATE in the grid-edge power flow control category, addressing similar utility pain points around renewable integration and capacity.
- Varentec: Grid-edge power electronics company delivering distributed power flow control solutions to utilities. Direct competitor to IONATE in the distributed power flow control category targeting DSOs and TSOs.
Emerging players
- GridBridge (ABB): Startup developing solid-state transformer and grid-edge power electronics solutions, acquired by ABB in 2017. Comparable to IONATE's solid-state-enabled transformer architecture, though now operating as a division within the ABB portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
IONATE social profiles
Digital presenceIONATE financial estimates
Financial estimateRevenue estimate
Valuation estimate
IONATE leadership team
Management profileNumber of profiles
Profiles6 records
IONATE funding detail
Funding detailFunding overview
Funding rounds3 records
Investors12 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
IONATE M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about IONATE
What does IONATE do?
IONATE designs and manufactures the Hybrid Intelligent Transformer (HIT), a smart transformer that combines conventional transformer magnetics with solid-state power electronics to deliver real-time power flow control, voltage regulation, phase balancing, harmonic mitigation, and reactive power control in a single device. Alongside the HIT hardware, IONATE sells the Aurora Neuralis software platform, an AI-enabled system that coordinates networks of HIT devices into a distributed control layer for system-level grid optimization. The offerings are sold to utilities, data center operators, and large industrial customers.
Is IONATE a public or private company?
IONATE is a private company. It is classified as venture growth investor backed and is currently operating.
When was IONATE founded?
IONATE was founded in 2019. It employs 11 to 50 people.
Where is IONATE based?
IONATE is headquartered in Edinburgh, United Kingdom, in the Europe region.
How does IONATE make money?
Three revenue lines are on record. Hybrid Intelligent Transformer (HIT) Hardware Sales are the primary driver. The others are aurora Software Platform Licensing and professional Services.
Who are IONATE's main competitors?
Broad incumbents on record are ABB, Siemens Energy, Hitachi Energy, GE Vernova, Schneider Electric, Eaton and Enphase Energy. Direct peers are Smart Wires and Varentec. GridBridge (ABB) is listed as an emerging player.
Does IONATE have an API?
No public API is recorded for IONATE.
What industry is IONATE in?
IONATE's product category is Smart Grid Power Electronics. Its primary akta.pro industry code is IMAGAAAD, Protection, Control & Monitoring (Relays, RTUs, Fault Recorders, Condition Monitoring), with a secondary code of EUADAKAD, Protection, control & substation automation engineering (relay/RTU/IEC 61850). Its NAICS code is 335311 and its SIC code is 3612.