Peak Energy has secured USD 108 million in an oversubscribed Series B financing round to expand U.S. manufacturing, fulfill customer orders, and bring its sodium-ion energy storage technology to the data center market.

Announced on October 21, 2026, the round was led by General Motors Ventures, with participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures.

The funding will support the delivery of more than USD 1 billion in existing customer orders as Peak targets growing demand from utilities, power producers, and data center operators.

Sacramento Manufacturing Facility to Begin Production in 2027

Peak unveiled its 4 GWh manufacturing facility in Sacramento, California, in July, with production scheduled to begin in the first quarter of 2027. The new financing will help the company scale domestic manufacturing and meet its commercial commitments.

The manufacturing expansion follows a partnership announced with General Motors in June 2026. The companies are jointly developing next-generation sodium-ion battery cells for stationary energy storage, drawing on GM’s expertise in U.S. battery cell industrialization.

Kevin McCabe, president of GM Ventures, said the investment reflects confidence in sodium-ion technology as a potentially safe and cost-effective storage solution using abundant, domestically sourced materials.

Passive Cooling Designed to Reduce Storage Costs

Peak’s flagship energy storage system uses a proprietary passive cooling platform designed to simplify operation and reduce maintenance requirements. According to the company, the system can lower energy costs by up to 20% compared with conventional storage systems. Its design eliminates active cooling equipment, reduces auxiliary energy consumption, and requires no planned maintenance.

Peak says these features contribute to a longer operating life and lower lifetime ownership costs. The company also states that its systems consume no water, produce virtually no noise, and eliminate leading causes of battery fires. These characteristics form part of Peak’s effort to address affordability, safety, and community concerns associated with energy storage infrastructure.

Data Center Expansion Targets Growing AI Power Demand

Entry into the data center market is a central objective of this financing. Peak identified access to power as a major constraint on data center growth as artificial intelligence increases computing requirements.

The company aims to provide storage that improves reliability and energy efficiency while making more power available for computing workloads.

Kenneth Safar, Managing Director at Maverick Silicon, said rising AI infrastructure power requirements were a key consideration behind the investment. He highlighted Peak’s approach across battery chemistry, system design, manufacturing, and deployment, alongside its technical progress and growing customer engagement.

Commercial Agreements Exceed USD 1 Billion

Founded in 2023 by industry veterans from Tesla, Enovix, and Fluence, Peak develops sodium-ion storage systems for grid applications. The company has secured more than USD 1 billion in commercial agreements, including deals with Jupiter Power, RWE, and Energy Vault. Its customer base spans utilities, power producers, and the expanding data center sector.

Co-founder and Chief Executive Officer Landon Mossburg said the new capital would accelerate Peak’s ability to scale and deliver its technology. He described the company’s mission as reducing energy costs through safer, simpler, cleaner, and more reliable storage.

With fresh funding, a planned Sacramento production start, and its General Motors partnership, Peak is preparing to expand manufacturing and bring its storage platform to a broader range of energy infrastructure customers.

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