Moxion raises funds to power remote locations during power shortages
The founders conceived the business idea by observing a diesel generator in the woods
Moxion, the San Francisco-based mobile battery energy storage system (BESS) solution, just closed its Series B funding round with $100 million, attracting the support of funds held by Amazon and Microsoft.
The company is having a momentum, because just before the announcement of the great fundraising results, it also announced a multi-year customer deal with equipment and tools rental group Sunbelt Rentals, which vouched to buy Moxion systems up to 2025.
Moxion’s product is in great demand, as climate change-driven anomalies have damaged the power grids. The founders of the company noted that they had come up with the idea whilst hiking near Mount Tamalpais.
They noticed a diesel-powered generator in the middle of the woods and began asking questions about more sustainable options. It turns out that the generator had been deployed to provide power during one of the many public safety shutdowns imposed by California’s utilities to prevent wildfires.
Moxion’s BESS is equipped with wheels and can be taken to remote locations. That could also mean film location sets, utility maintenance and network upgrade sites, electric vehicle fleet management and other applications.
