Heron Power vs Baker Hughes
Side-by-side comparison of AI visibility scores, market position, and capabilities
Raised $140M Series B (Feb 2026) led by a16z American Dynamism and Breakthrough Energy Ventures. Founded by ex-Tesla SVP Drew Baglino. Factory targeting 40 GW annual capacity.
About
Heron Power develops solid-state transformers (SSTs) — a semiconductor-based replacement for the century-old copper-and-iron transformers that form the backbone of the electrical grid. The company raised $140 million in Series B financing in February 2026, led by Andreessen Horowitz's American Dynamism fund and Breakthrough Energy Ventures. Heron was founded by Drew Baglino, former Senior Vice President at Tesla who led Tesla's energy storage products including Megapack, and is targeting a manufacturing facility capable of 40 gigawatts of annual SST production capacity.
Houston oilfield services and energy technology (NASDAQ: BKR) ~$27.8B FY2024 revenue; IET LNG turbomachinery 38% revenue, Baker Hughes + GE Oil & Gas combined, energy transition positioning competing with SLB and Halliburton.
About
Baker Hughes Company is a Houston, Texas-based energy technology and oilfield services company — publicly traded on the NASDAQ (NASDAQ: BKR) as an S&P 500 Energy component — providing oilfield services and equipment (OFSE — drilling, completions, production, and intervention technologies for upstream oil and gas operations) and industrial and energy technology (IET — turbomachinery, compressors, industrial equipment, and digital solutions for LNG terminals, industrial plants, and new energy applications) through approximately 58,000 employees in 120+ countries. Baker Hughes was formed in 2017 through the combination of Baker Hughes (founded 1987) with GE Oil & Gas — GE selling its oil and gas equipment and services business to Baker Hughes — creating a combined company that trades under NYSE: BKR while GE initially held a majority stake, which GE divested by 2022. In fiscal year 2024, Baker Hughes reported revenues of approximately $27.8 billion with adjusted EBITDA of approximately $4.4 billion, with the Industrial & Energy Technology segment (LNG compressors, gas compression, power generation turbines for industrial applications) generating 38% of revenue at above-average margins as LNG terminal construction and industrial decarbonization drove demand for Baker Hughes's turbomachinery and electrification equipment. CEO Lorenzo Simonelli has executed Baker Hughes's "energy transition" strategy — positioning Baker Hughes's equipment and services for both conventional oil and gas (OFSE — growing with global upstream capital expenditure) and the new energy economy (IET — LNG for energy transition, hydrogen compression, carbon capture equipment, geothermal drilling) to reduce Baker Hughes's correlation to oil price cycles.
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