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Energy storage

Developing a new class of cost-effective, multi-day energy storage systems to enable a reliable, and fully-renewable electric grid year-round.

Form Energy

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. 

Rising to the Challenge of Climate Change

Form Energy is developing a new class of multi-day energy storage: 100+ hour batteries that can store energy at less than 1/10th the cost of lithium-ion batteries today. Form’s goal is to transform the electric grid: to enable a fully renewable electric grid that’s reliable and cost-effective year-round, even in the face of multi-day weather events. Today renewables are variable, and Form Energy is working to make them dispatchable and reliable year-round. To do that requires energy storage that is ultra-low-cost, and that has a duration that’s long enough to match the multi-day variability of renewable energy.

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The arrival of cost-effective multi-day storage is not nearly as far off as many would believe. At Form Energy we have committed our lives to clean energy technology and are laser-focused on quickly developing the product to meet an urgent market need and enable a future that is 100% renewable, affordable and reliable.

Mateo Jaramillo, CEO, and co-founder of Form Energy