Moxion Power Co., a manufacturer of clean, mobile energy storage technology, has raised $100 million in Series B funding led by Tamarack Global along with participation from Energy Impact Partners.
Several investors participated in the round, including Sunbelt Rentals, Amazon’s Climate Pledge Fund, Microsoft’s Climate Innovation Fund, Enterprise Holdings Ventures, Marubeni Ventures, Suffolk Technologies, and Rocketship.vc.
Moxion Power will use the funding to scale production at its two domestic manufacturing facilities to meet the demand for its mobile energy storage products.
Earlier this year, Sunbelt Rentals committed to a multiyear purchase agreement with Moxion through 2025 and completed a strategic investment in the company ahead of its Series B capital raise.
Moxion recently started construction at its first manufacturing facility, located at the Ford Point Building in Richmond, California, and plans to commission a second domestic manufacturing facility in 2024. The two facilities will have a combined annual capacity of over seven gigawatt hours (GWh) and will create hundreds of manufacturing jobs.