Website: [formenergy.com](https://formenergy.com) ### Introduction Form Energy, founded in 2017, is a pioneering company in the energy storage sector, focused on developing long-duration battery technology to support the transition to renewable energy. The company was co-founded by Mateo Jaramillo, Ted Wiley, Marco Ferrara, William Woodford, and Yet-Ming Chiang, a team with deep expertise in energy systems and battery technology. Headquartered in Somerville, Massachusetts, Form Energy employs over 300 individuals as of the latest available data, though exact current figures may vary. Their mission is to enable a reliable, affordable, and fully renewable electric grid by providing energy storage solutions that can store energy for days, addressing the intermittency challenges of wind and solar power. Form Energy is a private company and does not currently trade on any public stock exchange. Since its inception, the company has attracted significant attention from investors and policymakers for its innovative approach to grid-scale energy storage, positioning itself as a key player in the clean energy transition. Their work is particularly relevant as global energy systems increasingly rely on renewables, necessitating cost-effective and scalable storage solutions. ### Key Products and Technology Form Energy is primarily known for its iron-air battery technology, a novel approach to long-duration energy storage. Below are details of their flagship product: - **Iron-Air Battery (Multi-Day Storage System)** - **Type**: Long-duration energy storage battery - **Technical Specifications**: Capable of storing energy for up to 100 hours, with a scalable design for grid applications. Specific power output and efficiency metrics are not publicly detailed, but the system is designed for multi-day discharge cycles, far exceeding traditional lithium-ion batteries' capabilities. - **Energy Source**: Utilizes iron, oxygen, and water as core components, leveraging a reversible rusting process to store and release energy. - **Key Differentiators**: The use of abundant, low-cost materials like iron makes the technology significantly cheaper than lithium-ion alternatives for long-duration storage. It is also safer due to the non-toxic, non-flammable nature of the materials, and it offers a longer lifespan for grid-scale applications. - **Development Stage**: The technology is past the concept phase, with pilot projects underway and commercial-scale manufacturing ramping up. Their first factory in Weirton, West Virginia, began construction in 2023, with production expected to start in 2024 or 2025. - **Target Customers**: Primarily utilities and grid operators seeking to integrate higher levels of renewable energy, as well as industrial and commercial entities requiring reliable backup power. Form Energy’s iron-air battery stands out in the energy storage market for its focus on multi-day storage, addressing a critical gap that shorter-duration lithium-ion systems cannot fill. The company is actively working on deploying pilot projects to demonstrate the technology’s viability at scale. ### Regulatory and Licensing Status As an energy storage company, Form Energy does not fall under the purview of the Nuclear Regulatory Commission (NRC) and thus does not require nuclear-specific licensing. Instead, its regulatory considerations center on environmental permits, grid interconnection approvals, and compliance with state and [[Federal|federal]] energy policies. The company has received support from government entities, such as a $30 million grant from the California Energy Commission for a 5 MW/500 MWh project in Mendocino County, California, set to operate in 2025, as noted in posts on X. Key regulatory milestones include securing permits for manufacturing facilities and project sites. Their West Virginia factory received necessary approvals to begin construction, marking a significant step toward commercial production. Upcoming milestones likely involve grid interconnection agreements for pilot projects and potential certifications for energy storage incentives under federal programs like those managed by the Department of Energy ([DOE.gov](https://www.energy.gov)). The estimated timeline for first commercial deployment aligns with their pilot project in California, targeted for 2025, with broader commercial rollout expected in the late 2020s as production scales. ### Team and Leadership Form Energy’s leadership team combines technical expertise with industry experience in energy and manufacturing. Key figures include: - **Mateo Jaramillo, CEO and Co-Founder**: Previously led energy storage development at Tesla, where he played a key role in launching the Powerwall and Powerpack products. His focus is on scaling Form Energy’s technology for grid applications. - **Ted Wiley, President, COO, and Co-Founder**: Brings operational expertise to oversee manufacturing and deployment strategies, with a background in energy technology startups. - **Yet-Ming Chiang, Co-Founder**: A professor at MIT and a renowned materials scientist, Chiang contributes deep technical knowledge to the development of the iron-air battery chemistry. Specific X handles for the leadership team are not verified or publicly prominent in available data, so they are omitted here. The team’s collective experience positions Form Energy well to navigate the technical and commercial challenges of long-duration storage. ### Funding and Financial Position Form Energy has raised significant capital to support its growth, reflecting strong investor confidence in its technology. As of the latest reported round in September 2025, the company secured $405 million in a Series F funding round, bringing its total funding to approximately $1.2 billion ([Canary Media](https://www.canarymedia.com/articles/long-duration-energy-storage/form-energy-raises-405m-for-its-100-hour-iron-air-batteries)). This latest round, announced in California, was aimed at accelerating battery development and deployment, with key investors not fully disclosed in public sources but likely including previous backers like [[Breakthrough Energy Ventures]] and ArcelorMittal. As a private company, Form Energy does not report market cap or stock performance. Notable institutional investors include Breakthrough Energy Ventures, founded by Bill Gates, and strategic partners like ArcelorMittal, which led an earlier $200 million Series D round in 2021. The company remains pre-revenue, focusing on technology development and pilot projects rather than commercial sales. First contracts are expected to emerge from pilot deployments in 2025, with full commercial scale anticipated in subsequent years. ### Recent News and Developments | Date | Event | Details | |---------------|--------------------------------|---------------------------------------------------------------------------------------------| | Dec 2025 | Year-End Energy Review | Form Energy recognized in global energy storage trends for 2025 ([World Economic Forum](https://www.weforum.org/stories/2025/12/the-top-energy-stories-of-2025/)). | | Sep 6, 2025 | Funding Round Announced | Secured $405 million for battery development, highlighting California’s clean energy focus ([Cal Coast Times](https://calcoasttimes.com/2025/09/06/form-energy-secures-405m-for-battery-development-california-clean-energy-investment-september-2025/)). | | Jul 17, 2025 | Stock and Growth Analysis | Analysis of Form Energy’s market position in grid-scale storage published ([Cheddar Flow](https://www.cheddarflow.com/blog/form-energy-stock-analysis-revolutionizing-grid-scale-energy-storage-with-iron-air-battery-technology/)). | | Jan 2025 | Industry Projections | U.S. energy storage capacity surpasses 40 GW, opening opportunities for Form Energy’s tech, as noted by industry observers on X. | | Oct 2024 | Funding Round Closure | Closed Series F funding round of $405 million, supporting West Virginia factory expansion ([Energy Storage News](https://www.energy-storage.news/us-multi-day-energy-storage-firm-form-energy-closes-us405-million-funding-round/)). | These events reflect Form Energy’s momentum in 2025, with significant funding and growing recognition in the energy storage sector. Note that some dates and details for 2025 are based on projections or announcements from late 2024 and early 2025 sources. ### Partnerships and Collaborations Form Energy has established strategic partnerships to advance its technology and market reach, though specific 2025 updates are limited in public data: - **California Energy Commission**: Received a $30 million grant for a pilot project in Mendocino County, California, demonstrating state-level support for long-duration storage and providing a platform to validate the technology with grid operators. - **ArcelorMittal**: As a strategic investor and partner since the 2021 Series D round, ArcelorMittal supplies materials expertise and supports the use of iron in battery production, aligning with Form Energy’s cost-effective design. - **Breakthrough Energy Ventures**: Backed by Bill Gates, this investor provides not only funding but also access to a network of clean energy innovators, enhancing Form Energy’s visibility and collaboration opportunities. These partnerships underscore Form Energy’s focus on aligning with both government and industry stakeholders to scale its technology. Further utility agreements or offtake contracts are expected as pilot projects progress, though specifics for 2025 remain undisclosed in current sources. ### New Hampshire Relevance Form Energy’s technology holds potential relevance for [[New Hampshire]], particularly in the context of the state’s energy transition goals and grid reliability needs. New Hampshire’s proximity to the ISO-NE grid, which manages electricity across New England, offers a viable integration point for Form Energy’s long-duration storage systems to balance renewable intermittency in the region. The state’s existing infrastructure, including [[Seabrook Station]] (a nuclear power plant), could complement Form Energy’s solutions by providing stable baseload power alongside storage for renewables. The technology’s readiness aligns with a potential deployment timeline in the late 2020s for New Hampshire, assuming successful pilot outcomes in 2025. Form Energy’s focus on grid-scale storage supports New Hampshire legislative initiatives like HB 710, which emphasizes clean energy adoption, though it does not specifically address SMRs or storage. Potential applications include stabilizing grid power for ISO-NE, supporting data center loads in the region, and providing backup for industrial users. While no direct connections to New Hampshire are documented, Form Energy’s expressed interest in Northeast U.S. markets (via pilot projects and funding in nearby states like California) suggests potential future engagement. The company’s scalable, safe, and cost-effective design could appeal to New Hampshire policymakers seeking to enhance energy resilience. ### Competitive Position Form Energy operates in a competitive energy storage landscape but carves a niche in long-duration storage. Compared to competitors like **Tesla Energy**, which dominates short-duration lithium-ion storage with products like Powerpack and Megapack, Form Energy offers a unique multi-day storage capability at a potentially lower cost due to iron-air chemistry. However, Tesla’s established market presence and faster deployment timelines pose a challenge. Against **[[ESS Inc]].**, another long-duration storage player using flow battery technology, Form Energy’s iron-air system may offer material cost advantages (iron vs. vanadium), though ESS has more operational pilot projects as of 2025. Lastly, **[[Eos Energy Enterprises]]**, focusing on zinc-hybrid batteries, competes in the long-duration space but targets slightly different market segments with less emphasis on multi-day storage. Form Energy’s primary advantage is its novel chemistry and focus on 100-hour storage, but risks include slower commercialization compared to lithium-ion leaders and unproven scalability at grid level. ### Closing Note Form Energy is at a pivotal stage, with significant funding and pilot projects positioning it as a promising leader in long-duration energy storage, poised for commercial impact in the late 2020s. *Report generated December 24, 2025*