Form Energy raises $750 million for iron-air batteries with 100-hour storage
Form Energy just scored $750 million to ramp up its battery production in West Virginia.
Their iron-air batteries can keep power flowing for up to 100 hours, making them a big deal as renewables take over more of the US energy grid this year.
With clean energy on the rise, finding ways to store it longer is more important than ever.
Form Energy backlog hits 80 GWh
Instead of pricey lithium, Form uses iron, making their batteries cheaper.
Big names like Google (with a $1 billion battery cost for its Minnesota data center) and Crusoe are already on board.
Plus, with 80% of materials sourced in the US Form is helping cut America's reliance on China for battery supplies.
Demand is booming: their project backlog has jumped four times to 80 GWh, backed by major investors like T. Rowe Price and Sequoia Capital.