Peak Energy, a Denver, CO-based company developing low-cost, giga-scale energy storage technology for the grid, raised $55M in Series A funding.
The round was led by Xora Innovation, with participation from existing investor Eclipse, TDK Ventures, and new investors Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures and DETV-Scania Invest.
The company intends to use the funds to expand operations and its development efforts.
Peak Energy provides Sodium-Ion battery systems. With the capital the company enters in its next phase of growth, launching the first full-scale production of sodium-ion storage in the U.S. The sodium-ion batteries will deploy to a select group of six customers participating in its pilot program as early as next year. The roster includes three of the top five largest Independent Power Producers (IPPs) and electric utility companies in the country.
FinSMEs
17/07/2024