Peak Energy Raises $108M Series B Led by GM Ventures to Scale Sodium-Ion Grid Storage

Peak Energy, a Burlingame, California-based developer of sodium-ion energy storage, has raised $108 million in an oversubscribed Series B led by General Motors Ventures. Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures also participated, the company announced.

Founded in 2023 and led by co-founder and CEO Landon Mossburg, Peak builds passively cooled sodium-ion battery systems for the power grid as an alternative to lithium-ion.

What Peak Energy Builds

Most grid-scale batteries today use lithium-ion chemistry, which depends on materials with concentrated supply chains and requires active cooling to manage heat. Peak's systems use sodium, one of the most abundant elements on Earth, and are designed to run without active cooling.

The company claims up to 20% lower cost of energy than conventional storage systems, along with zero planned maintenance, zero water consumption and virtually no noise. Customers and partners include Jupiter Power, RWE and Energy Vault.

In June, Peak partnered with General Motors to co-develop next-generation sodium-ion cells for stationary storage, a deal Latitude Media unpacked for what it means for sodium-ion in the U.S. In July, it unveiled a 4 GWh factory in Sacramento, with production scheduled to begin in the first quarter of 2027.

How It Will Use the Funding

The new capital will scale domestic manufacturing, help fulfill more than $1 billion in existing customer orders and launch Peak's product in the data center market. Mossburg said the company's mission is to "lower the cost of energy through safer, simpler, cleaner, and more reliable technology."

"GM Ventures is investing to help Peak Energy continue to scale this innovative technology," said Kevin McCabe, president of GM Ventures.

The round puts Peak in a small group of U.S. sodium-ion companies with both strategic backing and a factory on the way, a combination that matters to utilities and developers who need confidence a supplier will be around to honor long-term warranties.

Why It Matters Now

Electricity demand in the U.S. is climbing for the first time in a generation, driven largely by AI data centers, and utilities need storage to balance the grid as more solar and wind come online. At the same time, policy has pushed developers toward domestic supply chains and away from reliance on Chinese battery materials.

Sodium-ion sits at the intersection of those pressures. It trades some energy density for cheaper, more widely available materials, a compromise that matters far less for a stationary battery than for an electric vehicle. That makes grid storage the natural first market for the chemistry, and it explains why an automaker is interested: GM gets a stake in a storage business that does not compete with its EV cells for scarce lithium.

Peak's data center push is the other angle to watch. Hyperscalers are racing to lock in reliable power, and on-site storage that needs no cooling water and little maintenance could appeal to operators facing water restrictions and local pushback. With $1 billion in commitments already on the books, the challenge now is execution: getting the Sacramento factory running on schedule and delivering at scale.

Source

PR Newswire — "Peak Energy Raises $108 Million In New Capital; Announces Oversubscribed Series B to Scale Next-Generation Energy Infrastructure"