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Peak Energy closes oversubscribed $108M Series B led by GM Ventures to scale sodium-ion grid storage

Sodium-ion battery storage developer Peak Energy closed an oversubscribed $108 million Series B led by General Motors Ventures on October 21, 2026, with Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures participating. The funding scales domestic manufacturing toward a 4 GWh Sacramento factory opening in Q1 2027, supports more than $1 billion in customer orders, and launches the company into data center power infrastructure.

By Greener Numbers Editorial Team · Published October 22, 2026 · Updated 10/22/2026

Peak Energy, a Burlingame, California-based developer of passively cooled sodium-ion energy storage systems, has closed an oversubscribed $108 million Series B financing round led by General Motors Ventures, the company announced on October 21, 2026. Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures also participated.

Peak said the financing will scale domestic manufacturing, help fulfill more than $1 billion in existing customer orders, and fund its entry into the data center power market, where access to electricity has become the primary constraint on growth. The company unveiled a 4 GWh factory in Sacramento, California in July, with production scheduled to start in the first quarter of 2027.

The raise extends an active year for the three-year-old company. In June, Peak announced a partnership with General Motors to jointly develop next-generation sodium-ion battery cells for the storage market, drawing on GM's U.S. battery cell industrialization expertise. GM Ventures president Kevin McCabe said the firm invested because sodium-ion offers a safe, cost-effective storage solution using abundant, domestically sourced materials.

Sodium-ion chemistry has emerged as the leading alternative to lithium-ion for grid-scale applications, trading some energy density for lower material costs, improved safety and supply chains that avoid constrained minerals. Peak's passively cooled design targets utility, power producer and data center customers, and the company reports more than $1 billion in customer commitments.

Chief executive and co-founder Landon Mossburg said the investment will accelerate Peak's ability to scale as the market turns to passively cooled sodium-ion storage. The company did not disclose its valuation.

Official source: peakenergy.com ↗