Source: Boston Business Journal
Summary
Form Energy, a startup developing iron-air batteries for long-duration energy storage, has secured a funding deal that could lead to a new funding round and a potential IPO next year. The company’s technology aims to provide a cost-effective solution for renewable energy storage. Form Energy has been backed by investors including Breakthrough Energy Ventures and ArcelorMittal. The funding deal was announced on September 14, 2022.
Our Reading
The announcement sounds ambitious.
Form Energy’s iron-air battery technology is touted as a game-changer for renewable energy storage. The company claims its solution can store energy for up to 100 hours, making it a potential replacement for fossil fuels. With this funding deal, Form Energy is poised to raise more capital and potentially go public next year. Because what the world really needed was another battery startup promising to save the planet. Again.
Author: Evan Null
