GM Ventures leads $108m Series B into Peak Energy's sodium-ion storage

Peak Energy has raised $108 million in a Series B round led by General Motors Ventures to scale manufacturing and enter the data-center power market.

The company, founded in 2023 and based in California, builds passively cooled sodium-ion battery storage systems intended to lower storage costs and improve grid reliability, according to ESG Today's report on the announcement. Peak says the architecture eliminates conventional cooling equipment, uses no water and needs no planned maintenance. The company says it can cut energy costs by up to 20% against conventional storage systems; those figures are the company's own.

Peak announced a partnership with General Motors in June to jointly develop next-generation sodium-ion cells for grid-scale storage. In July it announced plans for a 4 GWh factory in Sacramento, California, with production expected to start in the first quarter of 2027.

The new capital is earmarked for scaling domestic manufacturing, filling more than $1 billion in existing customer orders, and expanding into data centers.

Peak is directing those product claims at data-center operators, saying the system runs with minimal noise, requires no water and is designed to reduce battery fire risks. The company frames the design as addressing safety concerns while improving efficiency for that customer base. The announcement as reported gives no data-center customer names, contract terms or delivery schedule for that segment.

Kevin McCabe, president of GM Ventures, said the firm is investing to help Peak scale the technology "because we believe it has significant potential in the energy storage market as a safe, cost-effective solution using abundant, domestically sourced materials." Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation and LG Technology Ventures also participated. The report does not give a valuation, the split between primary and secondary capital, or milestones tied to the funding.