In a small bowl, sprinkle the gelatin evenly over cold water. Let it sit for 5 minutes.
Combine chocolate and sugar in a medium bowl, set aside.
Bring 1 1/2 cup of the cream to a simmer in a small saucepan over medium-high heat, stirring occasionally to prevent a film from forming on the top
Remove cream from heat, and add the softened gelatin. Stir until completely dissolved.
Pour the cream over the chocolate and whisk until chocolate is melted and the mixture is smooth. If chocolate doesn’t melt and smooth completely, place your glass bowl over a pot with a few inches of bowling water (created a double boiler), and whisk until smooth.
Cool to room temperature, stirring occasionally. The mixture will thicken slightly.
Using an electric mixer or stand mixer fitted with the whisk attachment, whisk the remaining 3 cup cream at medium speed until mixture thickens, about 30 seconds. Increase the speed to high and whip until soft peaks form.
Use a hand whisk to mix in 1/3 of the whipped cream into the chocolate mixture.
Next, use a rubber spatula to fold the remaining whipped cream into the chocolate mixture until completely incorporated.