Moxion Power Raises $100 Million; Plans To Scale Clean Energy Manufacturing

- Advertisement -

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.”

- Advertisement -

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.

- Advertisement -

Most Popular Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Report Suggests India’s EV Sales Will Surge, Rising 66% In 2024

0
In 2023, sales of electric vehicles (EVs) in India almost doubled due to increased consumer interest, government actions, better infrastructure, and climate change worries....

Ascend Performance Materials: Pioneering Innovation in the Electronics Sector

0
Bridging material advancements in plastics and technological progress, Ascend leads with customised solutions for a safer, reliable and greener tomorrow. Q. How would you explain...

DigiKey Expands Portfolio With 3PEAK

0
This collaboration adds amplifiers, interface components, data converters, and more, catering to industries such as communication, industrial, medical, and automotive.  In a strategic move aimed...

Buzz

Microsoft’s $1.5B AI Venture In UAE Stirs Global Interest

0
New partnership with G42 promises transformative AI advancements in emerging markets, impacting tech and geopolitics. Microsoft has announced a strategic $1.5 billion investment in UAE-based...

Tesla Power, E-Ashwa To Introduce India’s First EV With Fire Safety Tech

0
The partnership also expands to include the provision of after-sales support for electric vehicle customers by establishing a comprehensive network of sales and service...

Elektrobit Introduces EB zoneo GatewayCore Featuring Infineon’s AURIX TC4x

0
The EB zoneo GatewayCore is designed to connect hardware-dependent accelerators with the Classic AUTOSAR framework, providing adaptable support for intricate routing scenarios. Elektrobit, a premier...

Important Sectors

Tesla Power, E-Ashwa To Introduce India’s First EV With Fire Safety Tech

0
The partnership also expands to include the provision of after-sales support for electric vehicle customers by establishing a comprehensive network of sales and service...

Elektrobit Introduces EB zoneo GatewayCore Featuring Infineon’s AURIX TC4x

0
The EB zoneo GatewayCore is designed to connect hardware-dependent accelerators with the Classic AUTOSAR framework, providing adaptable support for intricate routing scenarios. Elektrobit, a premier...

Raptee’s Cell Chemistry Extends Battery Life, Says Dinesh Arjun

0
The Co-founder and CEO of Raptee disclosed that the company is currently sourcing its cells from a variety of countries. Dinesh Arjun, the Co-founder and...

AVL And Red Bull To Create High-Density Fuel Cell Technology

0
The advanced technology, featuring ultra-high power density and a lightweight design, is said to be two-thirds lighter than traditional fuel cell systems. This partnership...

Raptee Debuts First EV Motorcycle From Chennai Plant

0
Raptee Energy is gearing up for the commercial launch of its motorcycles by priming its assembly line, preparing the initial batch for testing, and...

Manufacturing

AVL And Red Bull To Create High-Density Fuel Cell Technology

0
The advanced technology, featuring ultra-high power density and a lightweight design, is said to be two-thirds lighter than traditional fuel cell systems. This partnership...

JJG Aero Secures $12 Million Investment From CX Partners

0
The Bengaluru-based aerospace components manufacturer intends to use the funds primarily to enhance vertical integration, increase production capacity at the new site, and support...

Tata Electronics Finalizes Semiconductor Agreement With Tesla

0
Ashok Chandak, the head of the India Electronics and Semiconductor Association (IESA), highlighted that Tesla’s initiative to establish a network of domestic suppliers for...

Sterling Tools Targets 40% of Sales from EV Business by FY25

0
This increase is anticipated to come from the EV business segment, which is integral to the company's strategy to diversify its operations. With a certain...

Lanxess, IBU-tec Partner To Develop Iron Oxides For EV Batteries

0
The collaboration focuses on enhancing the performance of LFP (lithium iron phosphate) cathode materials and reducing batteries' carbon footprint. Utilizing local raw materials, the...