Form Energy
Long-duration iron-air battery storage developer enabling multi-day grid storage
Energy
📍 Somerville, MA
Founded 2017
Current Valuation
$2.5B
as of 2024-Q3
UNICORN
Form Energy builds 100-hour iron-air rechargeable batteries optimized for multi-day grid-scale storage at a fraction of lithium-ion cost. CEO Mateo Jaramillo previously led Tesla Energy. Operating a manufacturing facility in Weirton, WV and signing utility-scale deals with Xcel, Georgia Power, and Dominion Energy.
Company Profile
Last Round
Series F — $405M (Oct 2024) · Lead: T. Rowe Price
IPO Status
no imminent plans
Founders & Key People
Mateo JaramilloWilliam WoodfordTed WileyYet-Ming ChiangMarco Ferrara
Investors
T. Rowe Price · Breakthrough Energy Ventures · Energy Impact Partners · TPG Rise · ArcelorMittal · GIC
Products
- 100-hour iron-air battery (Form Pearl)
Competitors
ESS Tech · EnerVenue · Ambri · Antora Energy
EnergyBattery StorageLong-DurationClimate
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2024-Q3. Refreshed quarterly.