Peak Energy, which builds sodium-ion energy storage systems for the power grid, has closed a $108m Series B round led by General Motors Ventures. The company, whose release carried a Burlingame, California dateline, announced the round on 21 October 2026 and said it was oversubscribed.
Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures also took part. Bloomberg reported the round on the same day. Peak did not disclose a valuation or how much it has raised in total.
“The investment we announce today will supercharge Peak's ability to scale and deliver as the world increasingly turns to passively cooled sodium-ion storage to solve our energy needs.”Landon Mossburg, Co-founder and Chief Executive Officer, Peak Energy
What Peak Energy does
Peak's systems are passively cooled, meaning they do without the active cooling equipment found in most battery installations. The company said this simpler design can lower the cost of energy by up to 20% compared with conventional storage, and that its systems need no planned maintenance, use no water, make almost no noise and remove the main causes of battery fires.
According to Bloomberg, Peak argues that sodium-ion cells can run at higher temperatures than lithium-ion cells, which gives them cost and safety advantages for data centres, grids and independent power producers. Bloomberg also noted that sodium-ion cells are still more expensive than lithium-ion ones and that most manufacturing of both is in China and elsewhere in Asia.
Peak was founded in 2023 and is led by co-founder and chief executive Landon Mossburg. Its team includes people who previously worked at Tesla, Enovix and Fluence, the company said. It has not disclosed its headcount.
Orders and the GM partnership
The company said it has more than $1bn in customer commitments, with deals including Jupiter Power, RWE and Energy Vault. Bloomberg put the order book at about $1.1bn, most of it from a 4.75 GWh agreement with Jupiter Power and a 1.5 GWh deal with Energy Vault.
In June 2026 Peak and General Motors agreed to develop new sodium-ion cells for grid storage together, with GM bringing its experience of industrialising battery cells in the US. Bloomberg reported that GM is working on the cells at its battery labs in Michigan, and that Peak plans to use them in its systems later.
Kevin McCabe, president of GM Ventures, said the carmaker invested because it sees sodium-ion as a safe and cost-effective storage option built from plentiful materials that can be sourced in the US. Greg Reichow, a partner at Eclipse, told Bloomberg that lithium-ion is cheap today because of its scale, but that sodium-ion should end up costing less given its materials.
What the money is for
Peak said the funding will help it scale up manufacturing in the US, deliver its existing orders and start selling to data centres, where access to power has become a limit on growth. Maverick Silicon managing director Kenneth Safar pointed to the rising power needs of AI infrastructure as a reason for the investment.
In July the company unveiled a 4 GWh factory in Sacramento, California, which it expects to begin production in the first quarter of 2027. For now it ships small volumes from a pilot line in San Francisco, according to Bloomberg.
The company is raising at a time of fast forecast growth for its chemistry. BloombergNEF expects demand for sodium-ion batteries to reach 257 GWh by 2035, up from just over 1 GWh in 2025, Bloomberg reported, at which point the technology could make up almost 10% of stationary storage.
Company website: peakenergy.com