Who They Are
Many companies are developing increasingly ingenious ways to reduce carbon output in the global quest to address the climate crisis. One example is Moxion Power, an innovative start-up taking a radical approach to mobile power usage.
Moxion is looking to capture the mobile green energy market with a new battery-powered generator and equipment rental business. It is headed by CEO Paul Huelskamp, a green energy stalwart who co-founded the company after serving as director of EverStream Energy Capital Management for seven years.
Accompanying Huelskamp in the C-suite as CTO is seasoned battery engineer Alex Smith and company President Alexander Meek, whose experience in banking and investment puts him firmly in the driving seat for Moxion Power’s ongoing fundraising efforts.
This fast-growing company shares an investor with Airbnb and is pushing forward with an aggressive hiring drive after landing $100 million in Series B funding at the end of September 2022. Amazon is an investor and Amazon Studios is an early customer.
What They Do
Moxion is positioned as a battery-powered generator manufacturer and fully electric equipment rental firm. The company’s debut product, the MP-75/600, is the world’s first electric generator set — genset — and showcases the direction of travel for Moxion. It is almost silent, produces no air pollution, doesn’t need to be warmed up or cooled down, and is simple to operate.
Moxion Power’s gensets will emulate existing diesel-powered alternatives with the exact dimensions, run times, and performance capabilities. This way, it hopes to provide an easy switch from carbon-emitting diesel to emission-free batteries. To ensure consistent running, all the hardware is monitored remotely, with Moxion Power’s logistics teams providing charging and replacements on demand.
In December 2022, Moxion Power’s trailer-mounted battery module was eligible for the California Air Resources Board’s (CARB) Clean Off-Road Equipment Voucher Incentive Project (CORE). The decision means any California-based buyers of off-road equipment can receive voucher funds to cover significant purchase costs of Moxion Power’s debut genset.
Who They’ve Impacted
At this early stage, it’s difficult to determine the direct impact of Moxion Power’s business model. However, we can explore the potential environmental impact on the sectors in which it will operate.
One insight into the types of organizations and potential reach of Moxion Power is a recent endorsement from one of the world’s largest companies, Amazon. Amazon Studios has committed to using Moxion Power’s batteries to power its production sets. The move has come on the back of Amazon’s investment in the company earlier in 2022 via its Climate Pledge Fund.
“Moxion Power’s batteries are allowing us to deliver entertainment with lower emissions than before, which we know is important to our customers, our Hollywood talent, and production teams, and is the right thing to do for the communities we operate in,” said Glenn Gainor, head of physical production for Amazon Original movies.
Moxion Power should also have a big impact in private and government-backed construction. A recent International Energy Agency (IEA) analysis found that the construction sector accounts for a third of CO2 emissions. The transition to electrified mobile construction equipment is popularly cited as one of the critical drivers for bringing this staggering figure down.
Beyond construction, Moxion Power will support the events and entertainment industries, utility providers, and electric vehicle (EV) fleet operators. Focusing on the events industry as an example, powering Summerfest, the biggest music festival in the U.S., with diesel generators, would consume upwards of 105,000 gallons of fuel per day, so Moxion Power’s mobile electric solution would have a big impact in such a scenario. And that’s just one instance.
The Future and Closing Thoughts
While on the surface, the electrification of mobile power generation may seem like a drop in the ocean, the combined impact of this initiative could be significant. We’re yet to see the uptake of Moxion’s services at scale, but providing that price points are kept in line with existing alternatives, and that the Moxion Power team can pin down distribution and coverage, it’s hard to see any reasons why organizations wouldn’t flock to the service to help support their sustainability efforts.
As companies within the acceleration economy pursue sustainability solutions, looking to bespoke innovations is a clever way of expanding your portfolio of carbon-cutting initiatives.
For more insights on the hows and whys of sustainability’s impact on business processes and profits, please join us for the Acceleration Economy Sustainability Impact Digital Summit on January 26, 2023. Register today for your free streaming pass here.
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