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Somerville, MA, USA · Private · formenergy.com
100-hour iron-air batteries; factory in Weirton, WV
Open roles
205
▲ 6 since 2026-10-30
Federal awards
$7.3M
4 grants, contracts, loans
Last private raise
$335M
Form D · 2022-09-19
SEC filings
8
latest 2022-10-04
Coming up
PROJECT · CAMBRIDGE ENERGY STORAGE PROJECTOnline (target)
Cambridge, MN
technologyreview.com →+ THESISPOLICY45X: advanced manufacturing
Wind components end after 2027. Solar and battery components: 75% in 2030, 50% in 2031, 25% in 2032, none from 2033. Critical minerals: 75% in 2031, 50% in 2032, 25% in 2033, none from 2034. Affects Form Factory 1.
+ THESISPROJECT · XCEL–GOOGLE MINNESOTA STORAGEFirst battery modules ship (Form's target)
Minnesota
utilitydive.com →+ THESISHIRING205 open roles (+6 since Oct 30, 2026)
Biggest teams: Engineering 57, Operations 56, Manufacturing Operations 34, Manufacturing Development 25.
+ THESISFUNDINGForm Energy closes $270M credit facility for Weirton manufacturing
The facility supports manufacturing expansion and working capital at Form Factory 1 in Weirton, WV. It follows the $750M Series G, which took total equity raised above $2 billion.
citybiz.co →+ THESISLEADERSHIPForm Energy adds CFO and COO after Series G financing
MIT Energy Initiative reported that alongside the $750M raise, Form expanded its management team with a CFO and a COO. The exact appointment dates were not stated in the source.
energy.mit.edu →+ THESISOFFTAKE · XCEL–GOOGLE MINNESOTA STORAGEGoogle and Xcel announce 300 MW / 30 GWh of Form batteries in a 1.9 GW clean energy deal
Minnesota
utilitydive.com →+ THESISFEDERAL AWARDDepartment of Energy grant$3.5M
Form energy, inc. control no. 3387-1981 vision open 2024 project title: regenerative metal fuels for renewable energy transmission without wires form energy (form), along with mit
usaspending.gov →+ THESISPROJECT · SHERCO IRON-AIR BATTERYXcel moves commercial operation to Q2 2028, pending Form Energy's schedule
Sherburne County Generating Station, Becker, MN
mn.gov →+ THESISPROJECT · SHERCO IRON-AIR BATTERYDOE says the Sherco and Comanche iron-air demonstration won't proceed; Xcel appeals
Sherburne County Generating Station, Becker, MN
mn.gov →+ THESISPROJECT · COMANCHE IRON-AIR BATTERYDOE says the Sherco and Comanche iron-air demonstration won't proceed; Xcel appeals
Comanche Generating Station, Pueblo, CO
mn.gov →+ THESISPROJECT · MENDOCINO IRON-AIR BATTERYResized to 1.5 MW / 150 MWh to fit the Redwood Valley substation
PG&E substation, East Road, Redwood Valley, Mendocino County, CA
pressdemocrat.com →+ THESISFEDERAL AWARDDepartment of Energy grant$1000K
To obtain a copy of the funding opportunity announcement (foa) please go to the arpa-e website at https://arpa-e-foa.energy.gov. to apply to this foa, applicants must register with
usaspending.gov →+ THESISHow it works
Discharging lets iron pellets rust in air, which releases electricity; charging turns the rust back into iron. Cheap, plentiful materials make 100-hour storage affordable.
OPEN IN 3D →ProofFactory 1 in Weirton producing iron-air batteries; first utility project under constructiontechnologyreview.com
NextCambridge, MN online (mid-2027), then larger utility projects
Supply-chain security
Secured · Contracted · At risk · Unknown — rated only on public evidence; Unknown means nothing has been disclosed.
Sources: company job boards (daily), SEC EDGAR, USAspending.gov, and the reviewed technology spreadsheets. Public records only cover US entities, so foreign companies and private firms that don't file will show gaps.
Public $330MPrivate $0incl. $10M conditional or pending
Money behind this company's projects. Company-wide raises are listed but not counted in totals.
Read from SEC 8-Ks (bankruptcy, default, delisting, restatement, impairment, restructuring), cash runway in annual reports, Form D raises and the 30-day hiring trend. A prompt to look closer, not a credit rating.
2026-10-302026-11-09
Teams moving over 30 days: Research & Development -3 (now 7), Engineering +2 (now 57), Operations +2 (now 56)
By team
By location
Companies file a Form D within 15 days of selling shares privately. “Sold” is the amount raised so far in that offering; amended notices (D/A) update earlier ones.
| First sale | Notice | Offered | Sold |
|---|---|---|---|
| 2022-09-19 | D · filed 2022-10-04 | $452M | $335M |
| 2021-07-21 | D · filed 2021-07-28 | $200M | $155M |
| 2020-08-28 | D/A · filed 2021-03-31 | $76M | $76M |
| 2020-08-28 | D · filed 2020-09-15 | $52M | $52M |
| 2019-08-07 | D · filed 2019-08-22 | $40M | $40M |
| 2018-02-06 | D/A · filed 2018-05-09 | $1.6M | $1.6M |
| 2018-02-06 | D · filed 2018-02-21 | $7.4M | $7.4M |
| 2017-08-28 | D · filed 2017-09-19 | $2.0M | $2.0M |
Matched recipient: FORM ENERGY, INC.
STEP 5/5 · AT RISK Risk: data-center demand forecasts fallLater phases and options depend on load growth continuing; watch hyperscaler capex guidance.
Critical inputs
Policy that applies
No minerals, policies or partners linked yet. Add them in the review spreadsheet.
2026-09-21 · funding
Form Energy closes $270M credit facility for Weirton manufacturingThe facility supports manufacturing expansion and working capital at Form Factory 1 in Weirton, WV. It follows the $750M Series G, which took total equity raised above $2 billion.2026-08-31 · leadership
Form Energy adds CFO and COO after Series G financingMIT Energy Initiative reported that alongside the $750M raise, Form expanded its management team with a CFO and a COO. The exact appointment dates were not stated in the source.Only Form D notices on file (shown at left).