Clean Energy | September 29, 2022

Moxion Power secures $100 million to decarbonize mobile power

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 29 — Construction sites, outdoor events, film productions and disaster response teams need temporary power generation. “There’s enormous demand for cleaner alternatives to the fossil-fuel-burning generators that these industries have historically relied on,” says Moxion’s Paul Huelskamp.

The Richmond, Va.-based company, launched in 2020, makes electric mobile energy storage products. Moxion has raised $100 million in Series B investment to scale up production; the company is building its first facility in Richmond and plans to open another in 2024. The two facilities will have a combined annual capacity of seven gigawatt hours, the company says, and create hundreds of manufacturing jobs.

Replacing diesel

Sunbelt Rentals, an equipment rental service, has committed to a purchase agreement with Moxion through 2025. “Our customers are increasingly looking for cleaner options for their temporary power needs,” said Sunbelt’s Brendan Horgan. Sunbelt also invested in the round, led by Tamarack Global. Other investors include Energy Impact Partners, Amazon’s Climate Pledge Fund, Microsoft’s Climate Innovation Fund.