Form Energy Secures $750M to Scale 100-Hour Grid Battery Production
Form Energy has closed a $750 million funding round to accelerate production of its iron-air batteries designed to store electricity for up to 100 hours—significantly longer than typical lithium-ion grid storage systems that typically provide 4–8 hours of capacity.
The company, which counts Google and cloud infrastructure provider Crusoe among its customers, plans to use the capital to scale its manufacturing operations and meet growing demand for long-duration energy storage. Unlike conventional lithium-ion batteries optimized for short-duration frequency regulation, Form Energy's technology targets multi-day storage applications, enabling grids to shift renewable energy across periods of low generation.
The iron-air batteries work by oxidizing iron to release energy, a process the company says relies on abundant and inexpensive materials. This approach differs fundamentally from lithium-based systems and aims to address a key challenge in renewable energy integration: bridging multi-day gaps when solar or wind output is low.
The funding arrives as utilities worldwide seek cost-effective solutions for long-duration storage, which is considered essential for achieving high levels of renewable energy penetration on electrical grids. The 100-hour duration specifically targets scenarios where grids need to operate through extended periods without solar or wind generation, such as multi-day winter storms or calm weather patterns.