business π Energy startup raises huge cash for long-lasting batteries
Battery startup Form Energy secured $750 million to boost its West Virginia manufacturing capacity. This funding comes as the AI data center boom drives massive investment into energy storage solutions. The companyβs iron-air batteries can power systems for up to 100 hours, unlike most short-duration options. This technology is crucial for integrating more renewable power, which is set to be over 90% of new US generation this year. Form currently holds a backlog of commercial projects worth around 80 gigawatt-hours. π