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IONATE was founded in 2019 by Matthew Williams, Robert Ricci, and Luca Mezossy-Dona to modernise century-old power infrastructure through intelligent hardware and software. Williams brings 15 years of experience as an electrical and control engineer, having previously founded The Faraday Grid. The company's flagship product is the Hybrid Intelligent Transformer (HIT), a solid-state transformer providing precision power flow control up to 36 kV, paired with the Aurora Neuralis distributed control software for system-level optimisation. IONATE was named a front-runner in hybrid transformers by Cleantech Group's 2026 Global Cleantech 100 and featured in the IEA's 2026 State of Energy Innovation Report. The company closed a £3.3M seed round in 2022 led by IQ Capital, followed by a $17M Series A in February 2025 led by AlbionVC with participation from IQT and strategic investors.