Julian Spector writes on Greentech Media that Form Energy has raised another $70 million for long-term energy storage.
Although Form Energy hasn’t named all of its investors, the newly raised $70 million brings the total raised for energy storage to $120 million.
“The market for long-duration storage is still coming into existence, but a few developments signaled greater traction taking hold this year. California’s energy regulator called for 1 gigawatt of long-duration storage to be installed in the state by 2026. In October, a group of community-choice aggregators in California launched the first major solicitation dedicated to long-duration energy storage. Earlier this month, liquid air storage company Highview Power recently began construction on a 50 MW/250 MWh plant near Manchester, which will test the economic viability of that technology in the U.K. power markets.”
Read the full article here.
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