Richmond, CA – September 22, 2025 – PeraWatt Energy Inc. (PeraWatt), a California-based deeptech startup, has been awarded a $305,000 Small Business Technology Transfer (STTR) grant from the U.S. National Science Foundation (NSF) to accelerate the commercialization of breakthrough soft magnetic materials (SMMs). These advanced materials have the potential to dramatically improve the efficiency of power conversion in the power electronics systems at the heart of the technologies powering the 21st-century economy – from data centers and electric vehicles to energy generation and consumer devices.
With this award, PeraWatt joins an exclusive group of about 3,000 deep-technology startups and small businesses funded by NSF over the past decade, a community that includes many of the most innovative and promising ventures in the country.
About PeraWatt
PeraWatt was founded to address a rapidly growing problem: the exponential rise in energy demand driven by AI and electrification. Data centers already consume vast amounts of power, and up to 40% of that demand goes to cooling systems to deal with excess heat created by inefficient hardware. Much of this inefficiency stems from outdated magnetic materials in power electronics, which haven’t seen significant innovation in decades.
PeraWatt’s breakthrough magnetic materials offer a step-change in performance compared to incumbents, enabling significantly smaller, cooler, and more efficient power systems. By unlocking new levels of performance, PeraWatt aims to help industries meet growing demands for energy, electrification, and the AI revolution.
NSF Award
The NSF award will fund critical performance testing and new intellectual property (IP) development, enabling PeraWatt to deliver customer-ready solutions by 2026. This milestone underscores the company’s mission: to transform how power is managed and delivered in the 21st century.
Lucy Wu, Co-Founder of PeraWatt: “This NSF grant is a powerful validation of the work we’re doing at PeraWatt. It will accelerate our ability to pioneer the next generation of magnetic materials and bring more efficient, higher-performing power systems closer to reality.”
Edson Perez, Co-Founder of PeraWatt: “The energy challenges of rising demand due to AI and electrification demand bold innovation. With NSF’s support, we’re moving quickly to prove how advanced magnetic materials can overcome today’s bottlenecks and power the technologies of tomorrow.”
About America’s Seed Fund
America’s Seed Fund powered by the National Science Foundation (NSF) awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $2 million in non-dilutive funds to support research and development (R&D),helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research (SBIR) program. The NSF is an independent federal agency with a budget of about $9 billion that supports fundamental research and education across all fields of science and engineering. For more information, visit seedfund.nsf.gov.