OFICIAL PV Magazine

Sodium-ion storage maker Peak Energy raises $108 million in GM-led round

What happened
Based on PV Magazine · Oct 23, 2026

Peak Energy raised $108 million in a GM Ventures-led Series B round to scale domestic sodium-ion battery manufacturing and fulfill over $1 billion in customer orders.

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Sodium-ion storage maker Peak Energy raises $108 million in GM-led round
PV Magazine — pv magazine
Key points
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Peak Energy raised $108 million in a GM Ventures-led Series B round with participation from five other investors.
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Peak Energy secured over $1 billion in customer orders and plans to launch passively cooled sodium-ion systems for data centers.
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Peak Energy’s Sacramento factory will produce up to 4 GWh annually starting in Q1 2027 with a $71 million investment.
Key numbers
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Peak Energy closed an oversubscribed $108 million Series B funding round led by GM Ventures, with additional participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures.
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Funds will support scaling domestic manufacturing, fulfilling existing customer orders exceeding $1 billion, and launching passively cooled sodium-ion systems for data centers.
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The round follows a $55 million Series A in 2024 and includes a multi-year agreement with Jupiter Power for up to 4.

Peak Energy closed an oversubscribed $108 million Series B funding round led by GM Ventures, with additional participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures. The company did not disclose its valuation or the specific contribution from GM Ventures. Funds will support scaling domestic manufacturing, fulfilling existing customer orders exceeding $1 billion, and launching passively cooled sodium-ion systems for data centers. Peak Energy’s co-founder and CEO Landon Mossburg highlighted the investment’s role in accelerating the company’s growth amid rising demand for sodium-ion storage.

The round follows a $55 million Series A in 2024 and includes a multi-year agreement with Jupiter Power for up to 4.75 GWh between 2027 and 2030, starting with 720 MWh in 2027. Energy Vault also signed a supply deal for 1.5 GWh of Peak Energy systems and a joint development agreement for AI data center storage, though no end customer or site was named. Peak Energy has a pilot project with RWE’s US business in the MISO market, with no capacity disclosed. The company reported over 6 GWh of customer commitments as of July.

Peak Energy’s 183,000-square-foot factory in Sacramento is designed for up to 4 GWh of annual output, with production slated to begin in Q1 2027. The company has allocated approximately $71 million for capital investment. Peak Energy currently sources cells from Chinese manufacturers built to its specifications and assembles them into containers at its Burlingame, California facility. In June, it partnered with GM to co-develop next-generation sodium-ion cells using GM’s Michigan battery labs.

Peak Energy claims its passively cooled sodium-ion systems reduce energy costs by up to 20% compared with conventional storage and require no planned maintenance. The company unveiled its first grid-scale system—a 3.5 MWh installation—at SolarTAC in Colorado in July 2025 and began operations in September with nine utilities and independent power producers. Peak Energy also operates a sodium-ion cell engineering center in Colorado. The company’s cost and maintenance claims have not been independently verified.

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