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

Peak Energy successfully closed an oversubscribed $108 million Series B financing round on today, led by General Motors Ventures. Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures also participated in the investment round. The Burlingame, California-based company specializes in developing passively cooled sodium-ion energy storage systems for the grid.

The funding will allow Peak Energy to scale domestic manufacturing, fulfill over $1 billion in existing customer orders, and introduce its product to the data center market.

Access to power has emerged as the main bottleneck for growth in the data center sector, according to Peak Energy. In June 2026, the company entered into a partnership with General Motors to jointly develop next-generation sodium-ion battery cells for the storage market and utilize GM's U.S.-based battery cell industrialization expertise. In July, Peak Energy unveiled its 4 GWh factory in Sacramento, California, which is set to begin production in Q1 2027.

The company's passively cooled energy storage system, which reduces energy costs by up to 20% compared to conventional storage systems, stands out due to its design. This system eliminates cooling systems, minimizes energy waste, and requires zero planned maintenance. Founded in 2023 by veterans from Tesla, Enovix, and Fluence, Peak Energy has secured over $1 billion in commercial agreements, including deals with Jupiter Power, RWE, and Energy Vault.