Peak Energy said its oversubscribed Series B was led by GM Ventures, with participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures. The company did not disclose its valuation or the size of GM Ventures’ contribution.

Peak Energy said the funding will help it scale domestic manufacturing, fulfill more than $1 billion in existing customer orders and launch its passively cooled sodium-ion systems in the data center market. The round follows a $55 million Series A in 2024.

“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,” said Landon Mossburg, Peak’s co-founder and chief executive officer.

Peak Energy has not broken down the $1 billion figure. Its largest disclosed deal is a multi-year phased agreement with Jupiter Power for up to 4.75 GWh between 2027 and 2030, starting with about 720 MWh in 2027 and including an option for a further 4 GWh from 2028 to 2030.

In February, Energy Vault signed what it described as a definitive supply agreement for 1.5 GWh of Peak Energy systems, alongside a joint development agreement for storage serving AI data centers. Neither company has named an end customer or site. Peak Energy has also agreed to pilot a sodium-ion system with RWE’s US business in the Midcontinent Independent System Operator (MISO) market, though no capacity was disclosed.

When Peak announced its factory in July , it said it had more than 6 GWh of customer commitments.

Source link