Battery startup Moxion went bankrupt. Now its founder is back to ‘finish what we started’

Battery startup Moxion Power, which aimed to replace diesel generators at festivals and construction sites, went bankrupt just over a year ago after raising significant funding but ultimately failing to sustain operations. The company laid off more than 400 employees and shut down. Now, Moxion’s co-founder Paul Huelskamp and several former employees have launched a new startup called Anode, with the goal of “finishing what we started.” Anode recently secured $9 million in seed funding led by Eclipse, with investor Jiten Behl, formerly Rivian’s chief growth officer, backing the venture due to his experience recognizing the lack of charging infrastructure for electric vehicle fleets. Anode differentiates itself by focusing on integrated hardware, including a specially designed inverter and a smaller, more easily transportable mobile battery optimized for markets like EV charging, construction sites, and live events. Unlike Moxion, which tried to handle manufacturing in-house, Anode plans to use contract manufacturers to reduce complexity and costs. The