Form Energy develops iron-air battery systems that can store electricity for up to 100 hours, providing a cost-effective solution for multi-day energy storage. This technology addresses the need for reliable and affordable energy storage to support renewable electric grids year-round.
Funding
$1M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Renewable energy sources like solar and wind are intermittent, creating challenges for maintaining a reliable and affordable electric grid, especially during extended periods without sun or wind. Existing energy storage solutions often lack the duration and cost-effectiveness needed to ensure grid stability year-round.
Solution
Form Energy provides multi-day energy storage solutions using iron-air battery technology, enabling a reliable and clean electric grid even during prolonged periods of stress. Their iron-air batteries are designed for grid-scale applications, capable of storing electricity for up to 100 hours at costs competitive with traditional power plants. The battery systems use iron, one of the earth's most abundant minerals. In addition to battery technology, Form Energy offers Formware™, a grid modeling software to optimize power grid investment and operations, accounting for real-world weather variability to create reliable and cost-effective power system designs.
Target Audience
The primary target audience includes utility companies, grid operators, and independent power producers seeking long-duration energy storage solutions to enhance grid reliability and integrate renewable energy sources.
Features
- Iron-air battery technology utilizing abundant and low-cost materials
- 100-hour energy storage duration suitable for grid-scale applications
- Cost-effectiveness competitive with legacy power plants
- Formware™ grid modeling software for optimizing power grid design and operations
- Ability to model multi-year, hourly resolution data sets
- Accounts for real-world weather variability in grid planning
- Enhanced grid reliability and resilience
- Increased utilization of renewable energy sources