Form Energy secures $750M to expand iron-air battery manufacturing

iron-air batteries long-duration energy storage Series G financing renewable energy infrastructure data center power demand

Form Energy has secured $750 million in Series G financing to scale the production of its iron-air battery technology. The funding round, led by T. Rowe Price, brings the company's total equity raised to more than $2 billion.

The capital is intended to accelerate manufacturing at the company's facility in Weirton, West Virginia. This expansion aims to meet a rapidly growing commercial backlog, which has increased from 20 gigawatt-hours to 80 gigawatt-hours. The company's technology is designed for long-duration energy storage, offering discharge capabilities of over 100 hours to support grids during periods of low renewable energy generation.

Demand for the technology is being driven in part by the surging electricity needs of data centers, particularly those supporting AI workloads. Form Energy notes that 80% of the materials required for its batteries are sourced within the United States, which may help mitigate supply-chain volatility. Other participating investors in this round include Sequoia Capital, Franklin Templeton, and Breakthrough Energy Ventures.

Entities

Form Energy · Google · Sequoia Capital · T. Rowe Price · Weirton, West Virginia

Claims

What the coverage asserts, and how many sources carry each claim.

[○ 1 SOURCE] Eighty percent of the materials required for the batteries are sourced from the United States. www.thecooldown.com
[● 2 SOURCES] The company's total equity raised to date exceeds $2 billion. www.no2nuclearpower.org.uk · pulse2.com
[● 3 SOURCES] Form Energy secured $750 million in Series G financing. www.no2nuclearpower.org.uk · pulse2.com · www.thecooldown.com
[● 2 SOURCES] The company is developing iron-air batteries capable of providing more than 100 hours of discharge. www.no2nuclearpower.org.uk · www.thecooldown.com
[● 2 SOURCES] The funds will be used to expand manufacturing at a facility in Weirton, West Virginia. pulse2.com · www.thecooldown.com
[● 2 SOURCES] The company's commercial backlog has grown from 20 gigawatt-hours to 80 gigawatt-hours. pulse2.com · www.thecooldown.com
[● 3 SOURCES] T. Rowe Price led the Series G financing round. www.no2nuclearpower.org.uk · pulse2.com · www.thecooldown.com

Sources

Iron-air US LDES startup Form Energy secures US$750 million Series G financing [www.energy-storage.news]

25 days ago

Iron Air Batteries [www.no2nuclearpower.org.uk]

26 days ago

Form Energy lands $750 million to expand West Virginia iron-air battery factory as data center demand soars [www.thecooldown.com]

26 days ago

Form Energy Raises $750 Million Series G As Iron-Air Battery Backlog Jumps To 80 GWh [pulse2.com]

27 days ago