Peak Energy, a U.S.-based innovator in large-scale energy storage, has secured $55 million in Series A funding to ramp up production of its sodium-ion batteries.
- Major Investment: Xora Innovation, Temasek’s deep tech investing platform, led the $55 million Series A round, joined by Eclipse, TDK Ventures, and new investors including Lachy Groom, Tishman Speyer, and others.
- Rising Demand: U.S. electricity needs are projected to surge by up to 20% by 2030 due to AI and electric vehicle growth, prompting utilities to nearly double their production forecasts by 2028.
- Innovative Solution: Peak Energy’s sodium-ion batteries offer a cost-effective and safe alternative to lithium-ion technology, crucial for balancing renewable energy and ensuring continuous power supply.
- Strategic Growth: The company will launch its sodium-ion batteries with six major customers next year and is set to build a large-scale domestic factory by 2027.
This funding supports Peak Energy’s strategic goals and highlights its role in the evolving clean energy landscape.
