Form Energy Raises $405 Million for Its Multi-Day Iron-Air Batteries

Form Energy is looking to accelerate the expansion of its 100-hour iron-air battery system manufacturing in the US on the back of a $405 million Series F financing round.

Announcing the major funding milestone on Wednesday, the company said this brings its total funding to date to more than $1.2 billion.

The startup’s latest funding round, led by T. Rowe Price, has also seen GE Vernova as a new investor. Existing investors Bill Gates’ Breakthrough Energy Ventures, TPG Rise Climate, Capricorn’s Technology Impact Funds, Coatue, Energy Impact Partners (EIP), MIT’s The Engine Ventures, NGP, Temasek, GIC, Prelude Ventures, Claure Group, Gigascale Capital, Blindspot Ventures, and VamosVentures have also participated in the round.