Form Energy was founded by energy storage veterans who came together in 2017 with a unified mission to reshape the global electric system by creating a new class of low-cost multi-day energy storage systems. Form Energy’s first commercial product is an aqueous, air-breathing battery made from abundant global commodities at system costs competitive with conventional power plants. This front-of-the-meter battery would allow for a 100% renewable grid.
Form Energy is backed by leading investors who are committed to enabling a zero-carbon electricity system. In 2019, Form Energy closed a $40 million Series B financing round led by Eni Next LLC, the corporate venture capital vehicle of Eni Group. In 2020, Form Energy closed a $76 million Series C financing round led by Coatue Management. Additional new investors included Energy Impact Partners, NGP Energy Technology Partners III, and Temasek. Joining the Series C financing round were existing investors Breakthrough Energy Ventures (BEV), Prelude Ventures, MIT’s The Engine, Capricorn Investment Group, Eni Next, and Macquarie Capital.
Form Energy is headquartered in Somerville, MA, with a growing team in the San Francisco Bay Area.