Peak Energy Raises $108 Million Led by GM Ventures
Peak Energy raised $108 million in a Series B round led by GM Ventures to expand storage battery manufacturing and enter the data center power market.
Peak Energy raised $108 million in an oversubscribed Series B funding round led by GM Ventures, according to ESG Today.
Maverick Silicon, Infinite Capital, Eclipse, Xora Innovation, and LG Technology Ventures also participated in the round.
The company will use the funds to expand manufacturing and fulfill orders exceeding $1 billion, in addition to entering the energy storage market for data centers.
Its 4 GWh factory in Sacramento is scheduled to start production in the first quarter of 2027.
What do these terms mean?
Series B: A funding round following Series A, typically financing production expansion and entry into new markets.
Battery Energy Storage: Storing electricity in large batteries to release it later during peak demand or power outages.
Data Center: A facility housing power-intensive servers that require a stable power supply.
Gigawatt-hour: A unit of measurement for the amount of energy a battery can store or deliver.
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