Peak energy, a US-based company developing massive-scale energy storage technology for the electric grid, will use its $55 million Series A funding round to launch full production of its sodium-ion battery technology. Xora Innovation led the funding round with participation from BlackoutTDK Ventures, Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures and DETV-Scania Invest.
“As energy demand grows, we must take advantage of the potential of renewable energy sources to deliver reliable, low-cost energy, fueling a new era of technological advancement,” said Landon Mossburg, co-founder and CEO of Peak Energy. “Utility-scale storage, powered by sodium ions, is the answer to securing this future on a resilient, carbon-free grid.”
With access to meaningful new capital, Peak Energy plans to begin full-scale sodium ion storage production in the United States. The company’s sodium-ion batteries will be deployed as early as next year to a select group of six customers (including IPPs and utilities) participating in the pilot program. Peak Energy plans to open its first domestic giant sodium-ion battery factory in 2027.
News item from Peak Energy
