As Moxion Power, the portable battery startup, announced its shutdown nearly a year and a half ago. It contributes to the growing list of 2024’s high-profile bankruptcies. Though disappointed by the sudden turn of events, former team members have come together to form Anode Technology Company, determined to complete the work they started. Formerly with the science-based nonprofit, Earthjustice, Paul Huelskamp—who holds a PhD in environmental science, policy, and management from the University of California, Berkeley—will direct the new venture. He’s focused now on using the lessons from the difficulties Moxion faced to develop new, cutting-edge energy solutions.
Anode Technology Company has brought together industry-leading talent. Newly appointed as the head of financing efforts for the company, Jiten Behl, who was previously Rivian’s chief growth officer. His experience at Rivian, which once had an agreement to sell 100,000 electric delivery vans to Amazon, sparked his interest in energy solutions. He underscores that what companies are looking for are grid-independent solutions with flexibility built in.
Moxion Power raised more than $110 million before it shuttered its doors. This experience paired Huelskamp with knowledge that proved invaluable when it came to the landscape of startups. He reflected on some of the challenges they faced at Moxion, stating, “There’s a lot of those types of requirements that, frankly, we just didn’t appreciate at Moxion.” This consciousness has shaped Anode’s philosophy towards sustainable manufacturing and operational efficiency.
The company plans to use contract manufacturers to produce its batteries. It intends to use artificial intelligence to optimize all operations, starting with charging and electric vehicle delivery logistics. Huelskamp noted the importance of these strategies in driving down costs: “We are optimizing for the lowest cost of delivered energy. The things that drive cost are, how much energy can you put on the back of a truck? How many trucks do you need? How many drivers do you need? How many trips do you have to take?”
Behl added his perspective on the challenges of energy infrastructure, highlighting the need for adequate facilities. “You need a mini power plant to charge 150 vans, and that infrastructure does not exist at depots.”
Huelskamp brought perspectives from his academic study and former vocational endeavors. He then earned his BA degree in environmental studies, English, and biology from St. Olaf College, which he followed with obtaining his PhD. In 2018, he was awarded the Knight Science Journalism Fellowship at MIT. There, he explored the emerging climate tech sector and experimented with new journalism biz models.
Reflecting on their renewed mission at Anode Technology Company, Huelskamp stated, “We started Anode with that goal to kind of finish what we started.” This sentiment resonates deeply with the team as they navigate the complexities of launching a new venture in the competitive energy sector.
As they advance into the future, Anode Technology Company is focused on creating solutions that are both high-performing and eco-friendly. Huelskamp believes that as operations scale and efficiencies grow, the cost of delivered energy can approach that of traditional grid power. He stated, “Over time, as we scale up our operations, create all these efficiencies, drive down the cost of delivered energy, and leverage the continued declines in battery costs, I think it approaches the cost of the power that we get from the grid.”
