FORM ENERGY RAISES $750M FOR 100-HOUR GRID BATTERIES

Form Energy's latest funding round supports the scale-up of production capacity for its iron-air battery technology, designed to store energy for extended periods on electrical grids. The company's batteries address a critical gap in grid infrastructure. While lithium-ion batteries excel at 4-hour storage cycles, Form Energy's technology extends to 100 hours—sufficient to bridge multi-day renewable energy shortfalls and reduce reliance on fossil fuel peaker plants. Customer Momentum Form Energy has already secured notable customers. Google has committed to purchasing batteries for grid stabilization, while data center operator Crusoe Energy signed on as an additional customer. These agreements validate market demand for long-duration storage as utilities and tech companies accelerate renewable energy adoption. Manufacturing Expansion The $750 million funding will enable Form Energy to build out manufacturing facilities and scale production. The company previously announced plans to establish its first commercial manufacturing plant, with this capital infusion accelerating those timelines. Market Context Long-duration energy storage has emerged as a priority for grid operators worldwide. As renewable penetration increases, systems capable of storing energy across days—not just hours—become essential for reliability. Form Energy competes in a growing sector that includes alternative chemistries and mechanical storage solutions. The iron-air chemistry offers advantages in cost and material availability compared to lithium-ion systems. Iron is abundant and inexpensive, reducing supply chain vulnerabilities tied to lithium, cobalt, and nickel sourcing. Next Steps Form Energy must now execute on manufacturing expansion and deliver products at scale. The company's ability to meet customer commitments and maintain cost competitiveness will determine its market position. Regulatory approval and grid interconnection timelines will also influence deployment velocity.