Richmond startup Aura Energy specializes in products that help distribute power within data centers. With hundreds of the power-guzzling facilities across the state and plenty more needed in the future, it looks like a good market to be in.
Founded by Managing Director Nate Carroll, the startup recently caught the eye of the Dominion Energy Innovation Center, earning a spot in its new pre-accelerator program devoted to companies working on the energy needs of data centers.
Aura Energy describes itself as a company focused on engineering state-of-the-art, low-voltage power distribution equipment. But what does that mean exactly? Carroll likens his company’s products to the system that carries electricity to homes.
“It starts as high voltage on the power lines, which is then lowered by the transformer, that grey box you see on the utility pole, before entering your house. Then, it's metered and distributed through a breaker panel to power different rooms. Data centers do something similar, but on a much larger scale,” Carroll said. “At Aura Energy, we design products that help distribute power within these data centers.”
The nine-person group behind Aura felt that many existing manufactures were struggling to keep up with demand on legacy designs, which prevented innovation. The company has high hopes to cut through some of these obstacles and focus on modernization. Aura Energy has filed for patents for its 1200A Remote Power Panel as well as its Universal Panel, products that Carroll says are built to meet the growing demands of AI-powered systems.
“We designed our products from scratch to be easily assembled, tested and installed,” Carroll said. “Where big manufactures may take five people five days to complete a build, it will take us two people, two days. This allows for us to create more product, requiring less space.”
The company is working with Virginia Commonwealth University’s College of Engineering as well as trade schools to find individuals to add to its team to help with its growing backlog. Hiring local talent cuts down on the need for relocating employees from other regions, Carroll said, and working with those that are already familiar with trends in the industry and the equipment reduces training time and costs. He also feels this approach helps contribute to the state’s economy by creating high-tech trade jobs in Virginia.
Carroll said he is “dreaming big” with a goal of having a customer who could possibly make a purchase order for $100 million. In the next 24 months, the company wants to have between a backlog between $20 million to $30 million and establish itself as a leader in innovation. Time and money continue to be an uphill battle for the startup, Carroll said.
“Creating a startup without venture capital or private equity forces you to be very creative,” he said. “There are so many pieces to creating a company from scratch, it is easy to get overwhelmed. Being a part of the cohort allows us to learn from other members who are solving similar challenges. Starting a business involves so much more than just making a product and having a support team like DEIC is invaluable.”
