Form Energy raised $750 million in a Series G financing round. T. Rowe Price led the investment. Total funding for the company now exceeds $2 billion.
Capital will expand manufacturing at the company’s West Virginia plant. The funds also support the commercial deployment of 100-hour iron-air batteries.
AI data center energy requirements are driving demand for long-duration storage. The company reports a commercial backlog of approximately 80 gigawatt-hours.
Form Energy is partnering with Xcel Energy to power a Google data center in Minnesota. Other customers include AI infrastructure firm Crusoe and renewable developer FuturEnergy Ireland.