SA国际传媒

Many sectors are looking to more sustainable and cleaner alternatives for their power needs鈥攁nd that includes their mobile power needs.

Richmond, California-based is hoping to provide just that, as the carbon-free portable generator manufacturer locked up a $100 million Series B led by .

Founded in 2020, the company has now raised just more than $113 million, according to SA国际传媒 data. Others participating in the round included , , 鈥檚 , , , Ventures, and .

Moxion manufactures mobile batteries and energy storage to enable last-mile electrification in sectors that include construction, transportation, events and entertainment, film production and telecommunications.聽

The company recently started construction at its first manufacturing facility and expects to commission a second domestic manufacturing facility in 2024.

Moxion will use the funding to scale production at those facilities.

鈥淭emporary power generation is a critical part of many industries, including construction, film production, live events and disaster response,鈥� said co-founder and CEO in a . 鈥淎s these industries look to decarbonize, there鈥檚 enormous demand for cleaner alternatives to the fossil-fuel-burning generators that these industries have historically relied on.鈥�

Cleantech grows

Moxion鈥檚 funding is just the latest big round to go to VC-backed startups in the cleantech sector, as many industries look to decarbonize and go greener.聽

So far this year, the industry has seen 17 funding rounds worth $100 million or more, according to SA国际传媒 data.

Despite venture capital investing slowing this year, cleantech is on pace to see a slight uptick from last year, . In 2021, VC-backed cleantech startups saw $7 billion of investments come into the sector. Already this year, investors have poured more than $6.6 billion into cleantech.

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