Armed with $9M in funding and hard-won lessons, the former Moxion team returns to reshape mobile energy with a smarter, leaner battery solution.
A Second Chance at Clean Power
Just over a year after the collapse of Moxion Power, co-founder Paul Huelskamp is back—this time with a fresh approach and a new company, Anode Technology Company. Alongside former Moxion team members, Huelskamp aims to tackle the same core mission: replacing diesel generators at construction sites, festivals, and EV depots with clean, mobile battery systems.
- Moxion raised $110 million before folding in 2024, laying off over 400 employees.
- Anode quietly launched and has now secured $9 million in seed funding, led by Eclipse Ventures.
- The startup is betting on a more efficient, cost-optimized model backed by prior experience.
What Went Wrong—and What’s Different This Time
Moxion’s downfall came from trying to do too much, too soon—especially around manufacturing.
- Lesson 1: Don’t build everything in-house. Anode will contract out manufacturing, allowing it to scale faster without heavy capital expenses.
- Lesson 2: Optimize design for transport and delivery efficiency, not just battery capacity.
- Lesson 3: Focus on cost per kilowatt-hour delivered, not just cost per battery.
Anode’s battery system is smaller than Moxion’s 600 kWh unit, which means more units can fit per truck, reducing the number of trips, drivers, and logistical costs.
“A smaller footprint, less energy, might mean more energy delivered per trip,” said Huelskamp. “It’s a little counterintuitive—but it works.”
Solving a Hidden Problem in EV Infrastructure
The problem isn’t just powering events or construction—it’s the EV charging bottleneck.
- Many EV fleets rely on diesel generators due to grid constraints at depots.
- Even major players like Waymo have resorted to diesel at urban charging sites.
- Anode offers a grid-independent alternative: mobile batteries with integrated inverters, tailored for fast deployment.
Investor Jiten Behl (formerly Rivian’s growth chief) saw the issue firsthand.
“You need a mini power plant to charge 150 vans, and that infrastructure doesn’t exist at depots,” Behl noted.
Competitive Edge: Integration, Intelligence, and Focus
Unlike competitors like SparkCharge and Power Sonic, Anode is prioritizing hardware integration and AI-driven operations.
- The custom inverter is built to handle diverse use cases: EV charging, construction sites, and live events.
- AI will manage charging schedules, delivery logistics, and fleet optimization, driving down energy costs further.
- Target energy cost: $0.03–$0.05 per kWh, compared to several dollars from diesel generators.
Targeting Proven Markets First
While EV charging depots represent a long-term opportunity, Anode is beginning with established, high-margin sectors:
- Construction sites and live events already spend heavily on fossil fuel generators.
- Replacing those with Anode’s batteries offers immediate cost and emissions savings.
- With fewer regulatory and infrastructure hurdles, these industries serve as ideal early adopters.
Scaling with Discipline, Not Hype
Anode is deliberately avoiding the pitfalls of overexpansion. Its capital-light model and early focus on operational efficiency are designed to survive the startup “valley of death” that claimed Moxion.
“We’re not just chasing headlines or market share,” said Huelskamp. “We’re chasing unit economics and long-term viability.”
