Breaking News: Moxion Founder Returns with New Startup Amid Bankruptcy
Just over a year after its high-profile bankruptcy, Paul Huelskamp, co-founder of Moxion Power, is back in the climate tech scene with a new startup, Anode Technology Company. The company has emerged from stealth mode with $9 million in seed funding, led by Eclipse and its partner Jiten Behl.
Timeline:
January 2024: Moxion Power closes its doors after laying off over 400 employees.
February 2025: Huelskamp and former Moxion employees launch Anode Technology Company.
March 2025: Anode secures $9 million in seed funding from Eclipse.
Immediate Impact:
The return of Huelskamp and his team has sparked interest in the climate tech community, with many wondering if they can avoid repeating the mistakes that led to Moxion's downfall. The new funding round is a vote of confidence in Anode's mission to replace diesel generators with portable batteries.
Background Context:
Moxion Power had raised over $110 million to develop portable battery solutions for festivals and construction sites. However, the company struggled to overcome the "valley of death" – the period between product development and commercialization when funding can dry up. Anode aims to address these challenges with a new approach.
What Happens Next:
Anode will use its seed funding to further develop its technology and build a team. The company's CEO, Paul Huelskamp, has stated that they aim to "finish what we started" – implying a renewed commitment to the original mission of Moxion Power. As Anode emerges from stealth mode, it will be closely watched by investors and industry experts alike.
*This story is developing. Information compiled from Techcrunch reporting.*
