Form Energy
Form Energy makes iron-air batteries that store electricity for up to 100 hours. It sells them to utilities, grid operators and AI data-center operators.
Form Energy develops and manufactures rechargeable iron-air battery systems that use iron, water and air for multi-day grid storage. Customers include utilities such as Xcel Energy and Great River Energy, and AI data-center players such as Google and Crusoe (a 12 GWh deal). It builds the systems at Form Factory 1 in Weirton, West Virginia. In August 2026 it raised a $750M Series G led by T. Rowe Price, bringing total equity raised to over $2B, and in September 2026 it closed a $270M credit facility. Its order backlog rose to about 80 GWh in 2026. Form Energy is an energy-storage hardware company, not an AI software company. Its link to AI is through data-center demand.
