Form Energy raises $750M to build more 100‑hour

Battery startup Form Energy secured $750 million to expand its iron‑air battery production, aiming to support the growing demand for long‑duration energy storage driven by data‑center expansion.

Form Energy, the California‑based iron‑air battery startup, announced a $750 million financing round aimed at scaling production of its 100‑hour energy storage systems.

Funding round details

The capital infusion was led by a consortium of investors that includes BlackRock, Citi Ventures, and existing backers such as Bessemer Venture Partners. The round also featured strategic participation from several utility companies seeking long‑duration storage solutions.

Form Energy plans to allocate the funds toward expanding its manufacturing footprint, hiring additional engineering talent, and accelerating the commercialization of its iron‑air chemistry, which promises lower cost per kilowatt‑hour than conventional lithium‑ion batteries.

Why 100‑hour batteries matter

Data‑center operators and renewable‑energy developers are increasingly looking for storage that can bridge multi‑day gaps in generation. A 100‑hour battery can deliver continuous power for over four days, providing a buffer against prolonged periods of low wind or solar output.

Unlike short‑duration lithium solutions that excel at minutes‑to‑hours of discharge, iron‑air systems can sustain output at a fraction of the cost, making them attractive for grid‑scale applications where economics drive deployment decisions.

Market implications

Analysts see the new financing as a signal that the market is maturing beyond the early‑stage hype of lithium‑ion storage. The infusion positions Form Energy to compete for large utility contracts and to support emerging demand from hyperscale data‑center campuses that require reliable, long‑lasting backup power.

Reduced capital expenditures for utilities
Enhanced resilience for data‑center operations
Facilitation of deeper renewable integration

The company expects to begin pilot production at its existing plant in Nevada within the next twelve months, with a target of delivering commercial‑scale units by 2028.