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Peak Energy Secures $55 Million to Scale Production of Sodium-Ion Batteries for Renewable Energy Transition

U.S. manufacturer Peak Energy has secured a $55 million Series A funding round to scale production of grid-scale sodium-ion batteries. The funding was led by Zora Innovation, a investing platform of Temasek, with participation from Eclipse, strategic partner TDK Ventures, and new investors Lachy Groom, Tishman Speyer, TechEnergy Ventures, Doral Energy-Tech Ventures and DETV-Scania Invest. Peak Energy believes sodium-ionic batteries will help support the transition to renewable energy by storing and sending electricity from intermittent sources like solar and wind. The company is also on track to break ground on its first domestic “giga-scale” sodium battery in 2027.

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