Form Energy
Agent50Agent Readiness: 50/100. Top 25%. Measured by StartupHub.ai. Median 41.Form Energy develops and manufactures long-duration, grid-scale iron-air batteries for cost-effective renewable energy storage.
About
Form Energy is a climate tech startup specializing in the development and manufacturing of iron-air battery technology for long-duration, grid-scale energy storage. Their innovative batteries store energy by reversibly rusting iron, offering a significantly cheaper alternative to lithium-ion batteries for storing renewable energy for up to 100 hours. This technology addresses the intermittency of wind and solar power, enabling continuous clean energy supply for utilities and large industrial consumers like data centers.
Key facts
At-a-glance profile data
- Website
- formenergy.com
- Headquarters
- Somerville, Massachusetts, United States
- Founded
- 2017
- Employees
- 500
- Total funding
- $1.4B (Other)
- Business model
- B2B
Funding rounds
| Date | Round | Amount | Post-money | Lead investors |
|---|---|---|---|---|
| 16 Dec 2024 | Other | $50M | - | Trinity Capital Inc. |
| 9 Oct 2024 | Series F | $405M | $3.4B | T. Rowe Price |
| 18 Aug 2023 | Grant | $147M | - | U.S. Department of Energy |
| 19 Sept 2022 | Series E | $450M | $2.1B | TPG |
| 1 Aug 2021 | Series D | $240M | - | - |
| 11 Sept 2020 | Series C | $76M | - | - |
| 1 Jan 2019 | Series B | $40M | - | Eni Next |
| 1 Jan 2018 | Series A | $9M | - | Prelude Ventures, The Engine, Breakthrough Energy Ventures |
Tech stack
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- Hosting
- Google Cloud
- Email provider
- Google Workspace
Frequently asked
What does Form Energy do?
The company operates a manufacturing facility in West Virginia and is deploying its first systems with major partners like Google and Xcel Energy.
How much funding has Form Energy raised?
Form Energy has raised a total of $1.4B in funding. The most recent round on record is Other.
How many employees does Form Energy have?
Form Energy has approximately 500 people on record.