On October 21, Peak Energy, a US maker of sodium-ion battery energy storage systems, announced an oversubscribed $108 million Series B led by GM Ventures, the automaker's venture arm, with Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures participating. The company says the funding will scale its US manufacturing, fulfill existing customer orders and bring its passively cooled sodium-ion systems into the data center market. With the Series B, total equity raised since its 2023 founding reaches about $173 million.
On orders, Peak Energy holds customer contracts worth more than $1 billion. The largest 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 up to 4 GWh more from 2028 to 2030. Energy Vault signed a 1.5 GWh supply agreement in February, along with a joint development agreement for storage serving AI data centers. The company has also agreed to pilot a sodium-ion system with RWE's US business in the MISO market, with no capacity disclosed. None of these orders has a named end customer or site.
On manufacturing and product, Peak Energy's Sacramento plant covers about 183,000 square feet, is designed for up to 4 GWh of annual output, is scheduled to begin production in the first quarter of 2027 and carries a capital investment of about $71 million. Cells are currently sourced from Chinese manufacturers to Peak's specifications and assembled into complete systems in Burlingame, California. The company claims its passively cooled systems, which eliminate active thermal management, can cut energy costs by up to 20% versus conventional storage — a company figure that has not been independently verified. In June it agreed with General Motors to co-develop next-generation sodium-ion cells through GM's Michigan battery labs. Its first grid-scale system was unveiled in July 2025, and a 3.5 MWh demonstration began operating at the SolarTAC test facility in Colorado that September.