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To form a better world by developing, manufacturing, and commercializing a new class of cost-effective, multi-day energy storage systems that will enable a reliable and fully renewable electric grid year-round.
Central to the development of the digital revolution is the role of electric grid infrastructure and expansion. A completely electrical infrastructure is restricted by the inherent limitation that electrical energy is difficult and costly to store. Form Energy, however, have created a reliable battery that has the capacity to revolutionize how we use electricity.
Revolutionizing battery storage is at the core of Form Energy’s approach to making renewable energy universal. Form Energy’s battery is based around Iron-air technology that currently has energy storage capacities and operational costs comparable to legacy power plants. In addition to improvements in cost and consistent electricity access, Form Energy’s batteries are scalable, portable, and safe - offering a unique approach to revolutionizing renewable energy storage towards a greener future.
Although renewable energy storage technology remains an emerging industry, a variety of competitors are also driving developments of battery storage technology. However, Form Energy continues to be a key leader in this space, bagging significant investment that will enable it to build its first manufacturing plant and begin selling to customers. Form Energy's progress is highlighted by a deal with Xcel Energy to deploy iron-air battery systems at two of its retiring coal plant sites and with Puget Sound Energy in 2024, to help the company deploy multi-day energy storage systems.
Freddie
Company Specialist at Welcome to the Jungle
Oct 2024
$405m
SERIES F
Aug 2024
$147m
GRANT
This company has top investors
Ted Wiley
(COO & President)Studied at Harvard Business School before spending 6 years at Aquion Energy and then a year as President of McDonough Innovation. They co-founded Form Energy in 2017, serving since as COO and President.
Mateo Jaramillo
(CEO)Mateo started their career at Predictive Networks before joining Gaia Power Technologies and then Tesla. They left their VP of Products & Programs role in 2016 to found Verse Energy in April and Form Energy in December 2017.
William Woodford
(CTO)William Woodford is co-founder and CTO of Form Energy. His career has focused on developing robust low-cost energy storage systems.
Yet-Ming Chiang
(Chief Scientist)Co-Founder and Chief Scientist at Sublime Systems, and Professor at MIT. Prior to Form Energy, Chiang co-founded the companies Desktop Metal, 24M Technologies, A123 Systems, and American Superconductor Corp.
Marco Ferrara
(SVP Software & Analytics)Also co-founded Tessolar. Former VP of Energy, Analytics and Optimization at IHI INC.
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