Form Energy Series D — iron-air battery 100-hour duration long-duration energy storage
Form Energy closed $240M Series D led by ArcelorMittal XCarb innovation fund; ArcelorMittal would supply iron materials for the battery. TPG Rise Climate and The Rise Fund co-led. First commercial deployment with Great River Energy (MN) targeted for 2023. Validated 100-hour iron-air chemistry as long-duration storage technology.
$240M
Deal Value
Storage
Technology
MA
Location
Deal Details
- Deal Type
- Growth Equity
- Seller / Sponsor
- Form Energy
- Buyer / Financier
- ArcelorMittal XCarb (lead), TPG Rise Climate, The Rise Fund
- Deal Value
- $240M
- Stage
- Pre-commercial
- ISO/RTO
- ISONE
- Source
- Form Energy
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