Moxion Power Seeks to Raise $200 Million at $1.5 Billion Value

Moxion Power Co., a startup that has developed a mobile battery that can replace diesel generators, is seeking to raise about $200 million at a valuation near $1.5 billion, according to people with knowledge of the matter.

The Richmond, California-based company has begun discussing a possible equity round with potential investors, said the people, who asked not to be identified because the information is confidential. Terms of any investment haven’t been finalized and may still change.

A Moxion representative didn’t immediately respond to a request for comment Tuesday.

The company, led by Chief Executive Officer Paul Huelskamp, raised ...