Form Energy has developed a class of iron-air batteries designed for multi-day energy storage. Their first commercial product stores electricity for 100+ hours, enabling reliable integration of renewable power sources like wind and solar. The batteries use iron - one of the most abundant minerals on Earth - to provide affordable long-duration storage at costs competitive with traditional power plants.
The company was founded by leaders with expertise in energy storage innovation, including CEO Mateo Jaramillo, who scaled Tesla's energy storage business from prototype to production. And Chief Scientist Yet-Ming Chiang, who previously founded A123 Systems, a pioneer in lithium-ion batteries. With over $800 million in funding from top investors, Form is rapidly commercializing its technology - a West Virginia factory is under construction and the first utility-scale project will be online in 2024.
If you’re thinking about joining, Form offers the chance to accelerate the clean energy transition through cutting-edge technology development. The mission-driven team is growing quickly, providing opportunities for impact across manufacturing, product, and deployments. A key challenge Form must overcome is proving it can reliably manufacture its novel iron-air batteries at multi-gigawatt scale to meet projected demand.
2017
Founded
500-1k
Employees
Series E
Stage
$1B-$3B
Latest Valuation
$700M-1B
Total Funding
Dec 20 2023
Last Fundraise
Why is the rating
Founders
Mateo Jaramillo
- VP at Tesla, COO at Gaia Power Technologies
Marco Ferrara
- Cofounder of Tessolar, Senior Director at 24M, PhD, Nuclear Science and Engineering from MIT
William Woodford
- Postdoc Researcher at MIT and Harvard, Director at 24M
Ted Wiley
- VP of Product at Aquion Energy (backed by Kleiner Perkins)
Yet-Ming Chiang
- Cofounder and Chief Scientist at 24M Technologies, Cofounder of Desktop Metal, MIT Professor
Top Previous Employers
Massachusetts Institute of Technology
Northeastern University
SunPower Corporation
Tesla
University of California, Berkeley