CNBC's Catherine Clifford is reporting on a new battery startup that plans to better store solar and wind energy.
Peak Energy, founded by battery industry veterans from firms like Tesla, is aiming to mass-produce large sodium-ion batteries to store energy from renewable sources like wind and solar power generators.
The company plans to create individual battery cells, wire them into modules, assemble these modules into large batteries the size of tractor trailers, and deploy them near solar or wind farms.
Peak Energy believes sodium-ion batteries have an advantage over lithium-ion batteries for grid-scale applications due to their potentially lower cost per unit of stored energy. The company aims to address the storage challenges associated with renewable energy sources and plans to scale up its production capacity significantly in the coming years.
(This article was written with assistance from ChatGPT)