The company aims to meet the increasing demand for its mobile energy storage product lineup
In its Series B funding round, the US-based Renewable Energy Semiconductor Maker Moxion Power raised a sum of $100 Million. While the funding was led by Tamarack Global, other investors including Amazon’s Climate Pledge Fund, Enterprise Holdings Ventures, Marubeni Ventures, Microsoft’s Climate Innovation Fund, Rocketship, Suffolk Technologies, Sunbelt Rentals, and Moxion’s Series A lead investor, Energy Impact Partners also participated. The company aims to expand its production capabilities, in addition to working on product development for film, entertainment, construction, utility, and EV fleet customers.
Moxion’s Co-Founder and CEO, Paul Huelskamp stated: “Temporary power generation is a critical part of many industries, including construction, film production, live events, and disaster response. As these industries look to decarbonize, there’s enormous demand for cleaner alternatives to the fossil-fuel-burning generators that these industries have historically relied on. Moxion is thrilled to announce the next milestone on our mission to disrupt the fossil-fuel economy and establish key partnerships with these sustainable business leaders who are driving change at scale.”
It must be noted that 2020-born Moxion recently started construction at its first manufacturing facility located in Richmond, California. With its second domestic manufacturing facility due in 2024, the company will have a combined annual capacity of over 7 GWh.
The director of Microsoft Climate Innovation Fund, Brandon Middaugh said, “Moxion’s solutions complement the Climate Innovation Fund’s mission to accelerate the development and deployment of new and innovative climate technology.” He concluded by saying, “We look forward to working with the team as they continue to build domestic manufacturing operations, create jobs, and unlock and decarbonize new market verticals.”
Moxion specializes in manufacturing mobile energy storage products and technologies, which enable last-mile electrification in industries such as construction, transportation, events and entertainment, film production and telecommunications.