Amrith Ramkumar of The Wall Street Journal reports that Form Energy has raised $450 million.
- Form Energy is a Massachusetts-based startup that is looking to solve the intermittency problems of renewable power.
- The company has developed a battery that takes in oxygen and converts iron to rust and reverses this process to charge and discharge the battery.
- Form’s latest funding round will allow the company to build its first manufacturing facility which will produce commercially-available batteries in 2024.
“Form Energy Inc. plans to use the funds to build its first big manufacturing facility and begin selling to customers. The private funding round more than doubles the total equity Form has raised in its five-year history, company officials said.”
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