Energy supply

Form Energy closes Series B to enable the transition to 100% renewable grid

Retrieved on: 
Friday, August 23, 2019
Articles, Energy economics, Renewable energy, Energy policy, Technological change, Sustainable energy, Energy storage, Energy, Energy supply

The funds will be used to develop engineering prototypes and a megawatt-scale commercial pilot of the energy storage system.

Key Points: 
  • The funds will be used to develop engineering prototypes and a megawatt-scale commercial pilot of the energy storage system.
  • "With their world-class team and novel approach to solving long-duration energy storage, Form Energy has what it takes to unlock the power of renewable energy to transform the grid," remarked Michael Skelley, Senior Advisor at Lazard.
  • "We have committed our lives to clean energy technology development, and the Series B funding will provide Form with the resources necessary to continue to drive our progress forward," said Mateo Jaramillo, CEO, and co-founder of Form Energy.
  • Form Energy is developing and commercializing ultra-low-cost, long-duration energy storage systems that can be located in any market and scaled to match existing energy generation infrastructure globally.