Peak Energy is developing sodium-ion battery systems as a cost-effective and abundant alternative to lithium-ion technology for energy storage. This approach addresses the challenges of supply chain volatility and environmental impact associated with traditional battery materials, facilitating the transition to a resilient renewable energy grid.
Funding
$65M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
DSDEELGTVTS+1Founders
Product
Problem
Lithium-ion batteries, while widely used for energy storage, rely on materials with volatile prices, fragile supply chains, and environmentally damaging extraction methods. This creates a need for cost-effective and abundant alternatives to ensure a resilient renewable energy grid.
Solution
Peak Energy is developing sodium-ion battery systems as a direct replacement for lithium-ion technology in grid-scale energy storage. Sodium-ion batteries utilize sodium, a cheap and abundant material, to avoid the supply chain risks associated with lithium. The company plans to deploy its sodium-ion energy storage systems to independent power producers (IPPs) and utilities, followed by establishing a US-based sodium-ion gigafactory. Peak Energy aims to achieve the lowest cost per kWh through ongoing research and development.
Target Audience
Peak Energy's primary customers are independent power producers (IPPs) and utilities seeking cost-effective and resilient energy storage solutions.
Features
- Sodium-ion battery technology utilizing abundant and domestically available materials
- Focus on grid-scale energy storage systems (ESS)
- Targeting deployment to leading IPPs and utilities by 2025
- Plans to establish a US-based sodium-ion gigafactory by 2027
- Aims to achieve the lowest cost/kWh through R&D by 2030