Moxion Power, a mobile energy storage products and technologies manufacturer has raised USD 100 million in a Series B funding round led by Tamarack Global along with participation from Moxion’s Series A lead investor Energy Impact Partners. This brings the company’s total funding to USD 113.2 million.

The funds will be used to scale production at Moxion’s first two domestic manufacturing facilities in California; one of which is currently under construction and the second which is to be commissioned in 2024. Combined, the two facilities will have an annual capacity of over 7 GWh. Moxion will also be using the funding to accelerate product development for its film, entertainment, construction, utility, and EV fleet customers.

Analyst QuickTake: In May 2021, Moxion raised USD 10 million in a Series A funding round led by Energy Impact Partners to scale its manufacturing operations, launch its first rental location, and tend to its backlog of customer orders. More recently in 2022 Sunbelt Rentals, one of Moxion’s Series B investors signed a multi-year purchase agreement with the company through 2025 and also made a strategic investment prior to this funding round.