California-based Peak Energy has raised $108 million in Series B funding led by General Motors Ventures to expand production of sodium-ion energy storage systems for utilities and data centers.
Other participants include Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures.
The financing follows a $55 million Series A completed in 2024 and comes as the company prepares to begin production at a new battery manufacturing facility in Sacramento, California.
Founded in 2023 by executives with backgrounds at Tesla, Northvolt and other advanced energy companies, Peak is led by co-founder and CEO Landon Mossburg.
Mossburg previously served as president of North America and chief automation officer at Northvolt and held roles at Tesla and autonomous trucking company Einride.
Peak is developing an alternative to lithium-ion batteries for stationary energy storage.
Lithium-ion technology dominates both electric vehicles and grid-scale battery installations, benefiting from extensive manufacturing infrastructure and years of technical development.
However, stationary energy storage has different requirements from automotive batteries.
Weight and volume are often less important than safety, cost, operating life and maintenance.
Peak is betting that sodium-ion chemistry can be competitive in applications where energy density is not the primary design constraint.
Sodium is abundant and widely available, potentially reducing dependence on some of the materials and supply chains associated with lithium-ion batteries.
The company is also pursuing a different system architecture.
Its batteries are designed to operate with passive cooling, reducing or eliminating the need for conventional active thermal-management systems.
According to Peak, this simpler architecture can reduce the cost of delivered energy by up to 20% compared with conventional alternatives.
That is a company-projected performance advantage rather than an independently demonstrated industry-wide result.
The company says its system also reduces planned maintenance requirements, water consumption and noise.
Peak completed early pilot work in California and deployed a passively cooled grid-scale sodium-ion system in Colorado in 2025.
Its next major development is a planned 4-gigawatt-hour manufacturing facility in Sacramento, scheduled to begin production in the first quarter of 2027.
The facility would significantly expand the company's manufacturing capacity and support larger commercial deliveries.
Peak says it has accumulated more than $1 billion in customer orders and commitments.
That number reflects contracted or prospective business commitments, not recognized revenue from delivered battery systems.
The financing also follows a strategic partnership with General Motors announced in June 2026 to support development and industrialization of next-generation sodium-ion battery cells.
GM's involvement provides manufacturing experience and potential supply-chain expertise as Peak moves from early deployments toward industrial-scale production.
The company is also expanding its focus beyond traditional grid storage into data centers.
AI infrastructure is increasing electricity demand, creating pressure on utilities, developers and operators to find reliable sources of power.
Energy storage can help manage electricity demand, support renewable generation and improve power reliability.
For data center operators, the economics depend on system availability, integration with electrical infrastructure and the ability to provide power when needed.
Peak's challenge is proving that sodium-ion technology can compete with lithium-ion at scale.
The existing lithium-ion industry benefits from large manufacturing volumes, established suppliers and continuing cost reductions.
Sodium-ion systems must deliver compelling lifetime economics, not simply lower raw material costs.
Peak must also execute a demanding manufacturing expansion, maintain consistent battery quality and fulfill customer commitments on schedule.
Its $108 million financing and reported order pipeline suggest meaningful commercial interest, but the next decisive milestone will be production at the Sacramento facility and delivery of large-scale projects.