Peak Energy raises $108M for passively cooled sodium-ion grid storage

Peak Energy, backed by GM Ventures, closed a $108 million Series B led by GM Ventures with LG Technology Ventures participating. The startup claims its passively cooled sodium-ion systems cut storage costs by 20% and plans to fulfill over $1 billion in existing orders.

• The $108M Series B was led by GM Ventures with LG Technology Ventures participating
• Passive cooling cuts storage costs by 20% with over 99% uptime, the company says
• Peak Energy plans to fulfill more than $1 billion in existing customer orders
• GM will build next-gen sodium-ion cells in Michigan and keep exclusive manufacturing rights