Energy

Form Energy raises $240 million on iron-air battery promise

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An artist rendering of Form Energy’s battery system.

Rendering courtesy Form Energy

A secretive start-up called Form Energy says it’s developing and scaling the production of a new type of rechargeable battery that can store electricity for 100 hours.

Form hasn’t publicly demonstrated its technology or shared proof that it works. Nonetheless, the company has lined up more than $360 million in funding, including a new $240 million round that closed Tuesday, and partners and outside experts are optimistic about its potential.

Form Energy’s core technology is based on three cheap and readily available materials: Iron, air, and water. The battery works with a process the company calls…



Source cnbc.com

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