Moxion Power

Moxion Power is a technology company.

Closed

Updated: Feb 17, 2026 ·

Recent News & Mentions

Sep 1, 2022FundingMoxion Power - Series B May 1, 2021FundingMoxion Power - Series A

Financial History

Moxion Power has raised $110.0M across 2 funding rounds. Most recently, it raised $100.0M Series B in September 2022.

Total Raised

$110.0M

Valuation

N/A

Funding Rounds Raised

Date	Round	Lead Investors	Other Investors
Sep 1, 2022	$100.0M Series B		Canaan Partners, Clearvision Ventures, Energy Impact Partners, Lam Research Capital, Microsoft, National Grid Partners, Plum Alley Investments, Rethink Impact, Social Capital, WestCap
May 1, 2021	$10.0M Series A		Canaan Partners, Energy Impact Partners, National Grid Partners, WestCap

Financial History

Moxion Power has raised $110.0M across 2 funding rounds.

Total Raised

$110.0M

Valuation

N/A

Deep Dive

High-Level Overview

Moxion Power was a technology company that designed, engineered, and manufactured mobile energy storage products to replace diesel generators with clean, zero-emission alternatives.[1][2][3][4] It offered products like the MP-75—a 75kW, over 600kWh mobile battery unit that's quiet, maintenance-free, and software-enabled—alongside power-as-a-service for industries including construction, film production, live events, transportation, utilities, and defense.[1][2][3] Serving customers needing temporary, off-grid power, Moxion solved the problem of noisy, polluting, and expensive fossil fuel generators by providing seamless delivery, swappable batteries, smart monitoring, and ESG traceability, achieving over $100M in revenue in its first full year.[2][4] Backed by investors like Amazon Climate Pledge Fund, Microsoft Climate Innovation Fund, and Y Combinator (W21 batch), it raised over $150M but filed for bankruptcy just over a year ago amid challenges in the climate tech sector.[1][3][4][6]

Origin Story

Founded in 2020 and headquartered in Richmond, CA, Moxion Power emerged from Y Combinator's Winter 2021 batch as a response to the need for last-mile electrification in hard-to-decarbonize industries.[4] Co-founders included Paul Huelskamp (former CEO, now leading a successor venture), Alexander (Alex) Meek (President, with prior startup and VC experience), and Josh Ensign (COO), who analogized their tech to oversized, durable phone power banks capable of recharging a phone daily for 100 years.[1][4] The idea gained early traction through partnerships like Sunbelt Rentals for construction rentals and adoption in Hollywood for sustainable film sets, culminating in a $100M Series B in 2022 and a California manufacturing plant opening with Governor Newsom, supported by a $15M state grant.[1][2] Vertically integrated production in a 200,000 sq ft Bay Area facility enabled rapid scaling to a 380-person team, but operational hurdles led to bankruptcy around mid-2024.[1][4][6]

Core Differentiators

Vertical Integration and Speed: In-house module manufacturing to final assembly provided cost and speed advantages over competitors, allowing quick market response and incentives to stay in California.[1]
Product Features: MP-75 and similar units offered zero emissions, mobility (truck-hookable), high power (75kW+), silence, no maintenance, swappable batteries for continuous uptime, and AI/smart software for monitoring and optimization.[2]
Service Model: Power-as-a-service with seamless delivery/pickup, no range anxiety, ESG traceability, and pricing far below diesel (e.g., charging at 3-5¢/kWh vs. dollars), targeting EV charging, construction, and events.[2][6]
Investor and Ecosystem Ties: Backing from climate-focused funds like Amazon and Microsoft, plus Y Combinator, enabled $150M+ funding and real-world pilots (e.g., film sets, Waymo-like depots).[1][3][4]

Role in the Broader Tech Landscape

Moxion rode the wave of climate tech and electrification trends, addressing the "last-mile" gap where grid infrastructure lags for mobile, high-power needs in construction (diesel-heavy sites), entertainment (film/events), and emerging EV fleets.[2][3][6] Timing aligned with falling battery costs, state incentives (e.g., California grants), and corporate sustainability mandates from backers like Amazon swapping generators on sets.[1][2] Market forces like rising diesel costs, emissions regulations, and demand for resilient, grid-independent power favored its model, influencing the ecosystem by proving mobile BESS viability—paving the way for successors like Anode Technology (led by Moxion's founder) and competitors such as Sparkcharge.[4][6] Its rapid revenue growth highlighted scalable demand but exposed scaling risks in capital-intensive climate hardware.[6]

Quick Take & Future Outlook

Moxion's bankruptcy underscores execution challenges in climate tech—overexpansion amid supply chain woes and high capex—but validated a massive market for mobile clean power, with its tech now iterated by founder Paul Huelskamp's Anode Technology, emphasizing AI-optimized operations for EV charging, construction, and events at near-grid parity costs.[6] Trends like cheaper batteries, AI logistics, and stricter ESG rules will propel this space, potentially evolving Moxion's legacy into a fragmented but maturing ecosystem of specialized providers. What began as electrifying film sets and job sites could redefine temporary power, finishing "what they started" through resilient spin-offs.[6]

Sources

Frequently Asked Questions

How much funding has Moxion Power raised?

Moxion Power has raised $110.0M in total across 2 funding rounds.

Who are Moxion Power's investors?

Moxion Power's investors include Canaan Partners, Clearvision Ventures, Energy Impact Partners, Lam Research Capital, Microsoft, National Grid Partners, Plum Alley Investments, Rethink Impact, Social Capital, WestCap.