As the United States' energy consumption has reached an all-time high – spurred by a large population, ambitious federal renewable energy goals, and the burgeoning electric vehicle (EV) market – it has an urgent technology gap for energy-storage solutions.
By 2030, it is estimated that the United States will require a staggering 600 GWh of energy storage, translating into a market value of approximately $40 billion. However, existing solutions – primarily based on lithium-iron-phosphate (LFP) or nickel/manganese/cobalt (NMC) technologies – are plagued with a fragile international supply chain of lithium.
Additionally, due to the fact that lithium ion is banned in New York, as well as a tendency to catch on fire, the country also faces the need for higher safety standards for grid-scale energy storage. Peak's sodium-ion-based energy storage systems present a safer solution for utility-scale storage customers and, more importantly, is part of a solution for the United States to modernize the grid.
Peak Energy has developed an innovative sodium-ion-based energy-storage solution that is expected to be more cost-effective, durable, and easier to mass produce domestically. Considered to be more abundant and less expensive, sodium is available in large reserves, particularly within the United States, which significantly relieves geopolitical risks tied to LFP or NMC supply-chain logistics.
Moreover, the company focuses on creating batteries that match and potentially outperform existing technologies. Led by a veteran team of industry experts, including CEO Landon Mossburg (former President of Northvolt) and President and Chief Commercial Officer Cameron Dales (former CCO of Enovix that went public on NASDAQ), Peak Energy is well positioned to disrupt the energy-storage landscape with its focus on quickly establishing local supply chains, domestic gigafactory construction, and grid-scale production capabilities.
"Peak Energy aligns perfectly with TDK Ventures' strategic focus on both societal impact, sustainable progress, and venture-style financial return," said Nicolas Sauvage, President of TDK Ventures.
"Their sodium-ion technology offers a transformational solution for energy storage, addressing both technical and logistical issues and setting the stage for a more sustainable and secure energy future. This is not just an investment, but a partnership geared toward positively reshaping the energy landscape."
"TDK's deep expertise in the battery space and extensive network made them an ideal partner for us," said Landon Mossburg, co-founder and CEO of Peak Energy. "With TDK Ventures' investment and support, Peak Energy is taking a major step towards our goal of building a scalable, resilient and domestically produced battery storage solution with substantial environmental and supply chain security benefits."
"There are strong market forces behind Peak Energy's mission to bring sustainable, affordable, giga-scale energy storage to the market, as is evidenced by key partners like TDK," said Ryan Gibson, Venture Partner at Eclipse. "The operational expertise we bring from Eclipse will quickly help propel Peak Energy to become the dominant player in sodium ion manufacturing, something the U.S. critically needs."
