Peak Energy has closed a $108 million Series B led by GM Ventures to expand U.S. manufacturing of sodium-ion storage systems, while parent General Motors separately develops next-generation cells the startup plans to use. Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures also participated.
Peak integrates sodium-ion cells into stationary storage systems for utilities, independent power producers and data centers. CEO Landon Mossburg told Utility Dive that the systems will target discharge periods of four to 12 hours. General Motors says sodium-ion’s wider operating-temperature range can reduce cooling hardware and maintenance; Mossburg separately said Peak’s passive design uses less energy for its own operations.
General Motors said it planned to prototype the next-generation cells in Michigan during 2026. The automaker will retain exclusive manufacturing rights, while Peak will incorporate the cells into finished storage systems, according to the companies and Utility Dive. The partnership was announced in June, four months before the Series B closed.
Peak says it has more than $1 billion in customer commitments, but its financing announcement does not separate binding orders from other commitments. One disclosed agreement calls for 720 megawatt-hours of Peak systems for deployment by Jupiter Power in 2027 and reserves up to another 4 gigawatt-hours of capacity from 2028 through 2030.
The Series B is nearly twice the $55 million Series A that Peak announced in July 2024. Peak says its 183,000-square-foot Sacramento facility is designed to produce up to 4 gigawatt-hours of battery systems annually, with production and shipments expected to begin in the first quarter of 2027.