Form Energy Raises $750M in Series G Funding to Expand its West Virginia Battery Factory

US-based energy storage company Form Energy has raised $750 million in Series G financing, taking its total equity capital raised to more than $2 billion.

T. Rowe Price led the Series G round, following its leadership of Form Energy’s previous Series F financing. New investors include Sequoia Capital, Janus Henderson, Franklin Templeton, and PEAK6 Investments.

Existing investors including Prelude Ventures, TPG Rise Climate, Breakthrough Energy Ventures, Coatue, Energy Impact Partners, GE Vernova, NGP and others also participated. Morgan Stanley served as the sole and exclusive placement agent.

The round will help the company scale manufacturing at its Weirton, West Virginia facility and accelerate commercial deployments of its iron-air battery technology.

Funding Snapshot

About Form Energy

Founded in 2017, Form Energy develops long-duration energy storage systems designed to provide reliable electricity for multiple days. Its flagship iron-air battery technology is designed to store electricity and discharge it over extended periods, supporting grids that increasingly rely on renewable energy.

Core offerings include:

• Iron-air battery systems
• Multi-day energy storage
• Grid-scale energy storage solutions
• Long-duration energy storage technology

Previous Funding & Investors

The Series G brings Form Energy's total equity funding above $2 billion. T. Rowe Price, which led the latest round, also led the company's Series F financing.

The latest round brings several major institutional investors into the company while receiving continued backing from existing climate-tech, technology and strategic investors.

Funding Timeline