Full-Time
Posted on 8/1/2024
Develops cost-effective multi-day energy storage systems
Senior
Toronto, OH, USA
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Form Energy develops and manufactures energy storage systems that focus on renewable energy solutions. Their main product is an iron-air battery capable of storing electricity for up to 100 hours, providing a cost-effective alternative to traditional power plants. This battery allows for the efficient management of energy supply, making it easier for electric grids to operate reliably throughout the year. Form Energy differentiates itself from competitors by offering a competitively priced storage solution that targets utility companies, municipalities, and environmentally conscious businesses and individuals. The company's goal is to support the transition to a fully renewable electric grid and contribute to the decarbonization of the energy system.
Company Size
501-1,000
Company Stage
Series F
Total Funding
$1.5B
Headquarters
Somerville, Massachusetts
Founded
2017
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100% of medical, dental, & vision premiums
HSA & Flexible FSA
Generous PTO
Employee resource program
Parental leave
Commuter benefits account
Stock options
Equity
401k
Profession development budget
Life & disability insurance
PHOENIX, Dec. 16, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitment of $50 million in equipment financing to Form Energy, an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems.Form Energy aims to reform the global electricity system through the development of innovative, low-cost multi-day energy storage solutions. The company is pioneering an iron-air battery capable of storing electricity for 100 hours at system costs competitive with legacy power plants. Founded in 2017 by a group of energy storage experts, Form Energy aims to enhance the reliability and sustainability of energy systems."Form Energy's groundbreaking iron-air battery technology has the potential to redefine the future of energy storage," said Cory Cramer, Director, Equipment Finance at Trinity. "We're excited to partner with the company as they scale their operations and accelerate the pathway to a clean and reliable electric grid."This financing comes on the heels of Form Energy's $455 million Series F fundraise led by T
Trinity Capital Inc. provides $50 million in equipment financing to Form Energy.
GE Vernova, a key partner in this round, signed a Memorandum of Understanding (MoU) with Form Energy to collaborate on manufacturing and commercial deployments of the iron-air battery system.
Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, has raised a $405 million Series F financing round led by T. Rowe Price.
The long-duration energy storage startup has raised a total of $1.2 billion. Form is expanding its West Virginia factory and working on its first…