Peak Energy, a US-based developer of sodium-ion battery energy storage systems, has raised $108 million in an oversubscribed Series B funding round led by General Motors Ventures. The round also included participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures.
The company plans to use the funding to expand domestic manufacturing, fulfill more than $1 billion in existing customer orders, and introduce its energy storage technology to the data center market.
Founded in 2023, Peak Energy is led by co-founder and CEO Landon Mossburg and co-founder and COO Liam O’Connor. Headquartered in Burlingame, California, the company develops passively cooled sodium-ion battery storage systems for utilities, independent power producers, and other large-scale electricity users.
Its energy storage platform uses passive thermal management to reduce reliance on conventional cooling equipment and lower operational and maintenance requirements. According to the company, the technology can reduce the cost of energy by up to 20% compared with conventional energy storage systems.
In June 2026, Peak Energy announced a partnership with General Motors to jointly develop next-generation sodium-ion battery cells for stationary energy storage. The collaboration also involves leveraging GM’s US-based battery manufacturing expertise.
The company subsequently announced a 4 GWh manufacturing facility in Sacramento, California, in July 2026. Production at the facility is scheduled to begin in the first quarter of 2027.
Peak Energy previously secured $55 million in Series A financing in 2024, following a $10 million seed round in 2023. The latest financing will support the company’s manufacturing expansion and planned deployment of sodium-ion storage systems across grid and data center applications.
