About Form Energy
Form Energy develops and manufactures energy storage systems that focus on renewable energy solutions. Their main product is an iron-air battery capable of storing electricity for up to 100 hours, providing a cost-effective alternative to traditional power plants. This battery allows for the efficient management of energy supply, making it suitable for utility companies, municipalities, and businesses aiming to adopt renewable energy sources. Unlike many competitors, Form Energy emphasizes affordability and long-duration storage, which are essential for a reliable electric grid. The company's goal is to support the transition to a fully renewable electric grid, contributing to the reduction of carbon emissions and climate change.
Somerville, MassachusettsHeadquarters
2017Year Founded
$1,521.3MTotal Funding
SERIES_FCompany Stage
Industrial & Manufacturing, EnergyIndustries
501-1,000Employees
Benefits
100% of medical, dental, & vision premiums
HSA & Flexible FSA
Generous PTO
Employee resource program
Parental leave
Commuter benefits account
Stock options
Equity
401k
Profession development budget
Life & disability insurance
Risks
Emerging solid-state batteries could challenge Form Energy's market position.
Delays in West Virginia facility could impact production targets.
Supply chain vulnerabilities may affect iron-air battery material availability.
Differentiation
Form Energy's iron-air battery stores electricity for up to 100 hours.
Their technology extends grid capacity without new infrastructure, unlike competitors.
Form Energy's batteries are cost-competitive with traditional power plants.
Upsides
Form Energy secured $405 million in Series F funding for expansion.
Partnership with GE Vernova boosts manufacturing and deployment capabilities.
Inflation Reduction Act incentives benefit Form Energy's energy storage projects.
Funding
Total raised$1.52 B
Latest valuation$2.02 B
StageSERIES_F
GROWTH EQUITY VC
11/30/2024$50
SERIES F
11/30/2024$50
$2.02 BSERIES B
7/31/2019$40
$200.00 M