Form Energy secures 750 million dollars for iron-air battery expansion

Iron rusts to discharge and recovers to charge. This fundamental chemical cycle is the basis for a 750 million dollar expansion at Form Energy, which announced a successful Series G funding round on Wednesday. The capital is earmarked for the startup’s manufacturing facility in West Virginia, where it produces iron-air batteries capable of delivering power for 100 hours—a duration that significantly exceeds the four-hour standard of lithium-ion systems currently dominating the grid.

The investment arrives as the infrastructure requirements for artificial intelligence begin to reshape the American energy market. Data centers are projected to consume 20% of U.S. electricity by 2035, forcing a search for storage solutions that can bridge the intermittent nature of renewable generation. Form Energy’s backlog has grown to 80 gigawatt-hours, supported by large-scale commitments from Google and Crusoe. The former is integrating a 30-gigawatt-hour battery system into a new data center in Minnesota.

Form’s supply chain offers a distinct industrial posture in a market currently dominated by Chinese production. Approximately 80% of the company’s materials are sourced from the United States, with the remainder coming from Europe and Asia. By avoiding the volatile pricing of cobalt and nickel in favor of abundant iron, the company is attempting to lower the floor for long-duration storage costs. The funding round drew broad institutional support, including T. Rowe Price, Breakthrough Energy Ventures, and TPG Rise Climate.