Peak Energy raises $108 million in Series B led by GM Ventures

Peak Energy has secured $108 million in Series B funding, according to pv magazine. The round was led by GM Ventures, with participation from Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures.

The round was oversubscribed, the company said. Peak Energy did not disclose its valuation or the size of GM Ventures’ contribution. The money is meant to scale domestic manufacturing, fulfil more than $1 billion in existing customer orders and launch its passively cooled sodium-ion systems in the data center market. The Series B follows a $55 million Series A in 2024.

Manufacturing Expansion

Peak Energy is building a 183,000-square-foot plant in Sacramento, California. The company expects this new site to reach an annual output of up to 4 GWh, with production slated to begin in the first quarter of 2027. To realize this expansion, Peak Energy is investing approximately $71 million in capital. Today the company sources cells, built to its specifications, from manufacturers in China and assembles them into containers at its facility in Burlingame, California.

Separately, Peak Energy is currently piloting this technology in the MISO market in partnership with RWE US. While the capacity of this specific pilot has not been disclosed, the initiative provides a real-world testing ground for the energy storage solutions that the new plant will produce.

Commercial Backlog

Peak Energy’s order book now exceeds $1 billion, reflecting substantial secured demand ahead of its manufacturing ramp. The company has locked in significant supply commitments from two major partners, Jupiter Power and Energy Vault. The company has not broken down the $1 billion figure.

Partner	Committed Volume	Delivery Timeline	Specific Terms
Jupiter Power	Up to 4.75 GWh	2027–2030	~720 MWh in 2027; option for 4 GWh (2028–2030)
Energy Vault	1.5 GWh	Not specified	Definitive supply agreement signed in February, plus joint development for AI data center storage

The Jupiter Power contract is structured in two distinct phases. The initial tranche delivers approximately 720 MWh in 2027, coinciding with the start of production at the new Sacramento facility. Following this initial delivery, Jupiter Power holds an option to purchase an additional 4 GWh between 2028 and 2030.

Energy Vault signed what it described as a definitive supply agreement for 1.5 GWh of Peak Energy systems in February, alongside a joint development agreement for storage serving AI data centers. Neither company has named an end customer or site. When Peak Energy announced its factory in July, it said it had more than 6 GWh of customer commitments.

Technology and Partnerships

• Co-developing next-generation cells at Michigan battery labs with GM
• Claim of up to 20% lower energy cost versus conventional storage
• Claim of zero planned maintenance
• No independent verification of performance claims
• Sodium-ion cell engineering center in Colorado
• Funding purpose: scale domestic manufacturing, fulfil orders, launch data center systems

In June, Peak Energy partnered with GM to co-develop next-generation sodium-ion cells with the carmaker’s Michigan battery labs, so GM’s involvement goes beyond the funding round. The company had earlier set up a sodium-ion cell engineering center in Colorado.

The company says its system, which eliminates active cooling, up to 20% lower energy cost compared to conventional storage and requires zero planned maintenance. The claims have not been independently verified. The $108 million raise is earmarked to scale domestic manufacturing, fulfill the secured order book, and launch new data center systems.

Sodium-ion elsewhere

Peak Energy is not the only company trying to take sodium-ion storage to grid scale. In Australia, Valo Energy, a joint venture between Wärtsilä and RCT led by CEO Peter Fath, said it expects to announce the country’s first large-scale sodium-ion battery project, with the announcement targeted for the first quarter of 2027, as Luminity reported on 16 October. That system may be a hybrid, pairing lithium-ion with a sodium-ion component of at least 50 MW of connected power. Peak Energy’s pitch differs: passive cooling, which it says removes planned maintenance, and a US cell plant of its own.

What to watch

Peak Energy’s field record so far is small. It unveiled its first grid-scale system in July 2025 at the Solar Technology Acceleration Center (SolarTAC) test facility in Colorado and began operating the 3.5 MWh installation that September with nine utilities and independent power producers. The next markers are the RWE pilot in MISO, the first Sacramento output in the first quarter of 2027 and the roughly 720 MWh due to Jupiter Power that year.

Beyond the immediate operational milestones, the technical collaboration with GM warrants close attention. Kevin McCabe, president of GM Ventures, stated that the investment aims to help Peak Energy scale the technology, which he believes has significant potential as a safe, cost-effective solution using abundant, domestically sourced materials.

Landon Mossburg, co-founder and CEO of Peak Energy, noted that the new capital will supercharge the company’s ability to scale and deliver as the world turns to passively cooled sodium-ion storage. The company has not said when its data center systems will launch.