Form Energy

formenergy.com

HQ: Somerville, Massachusetts, United States

1000

Energy & Resources

Company research

Public company, workplace, funding, and market signals

Updated Aug 16, 2026

Overview

Form Energy is a U.S. energy technology and manufacturing company developing and commercializing low-cost, multi-day energy storage for a reliable, renewable electric grid. Its systems are designed to store electricity for up to 100 hours using an iron-air battery chemistry.

Primary product

Form Energy iron-air battery energy storage systems, including utility-scale 100-hour, multi-day storage systems.

Founded

2017

Headquarters

30 Dane Street, Somerville, Massachusetts 02143, United States

Team size

600-700

Work style

Onsite

Industry

Energy technology and manufacturing

Sub-industry

Long-duration energy storage and battery manufacturing

Offices

Somerville, Massachusetts

Weirton, West Virginia

Eighty Four, Pennsylvania

Berkeley, California

Business model

B2B utility-scale energy storage equipment sales

Project-based energy storage deployments

Manufacturing and deployment of grid-scale battery systems

Funding

Stage

Late-stage private company; Series F reported in 2024 and Series G reported in 2026

Total raised

$2B

Latest round

Series G · Aug 2026

Latest amount

$750M

Series G

Aug 2026 · T. Rowe Price

$750M

Debt financing

Dec 2024 · Trinity Capital

$50M

Series F

Oct 2024 · T. Rowe Price

$405M

California Energy Commission grant

Dec 2023 · California Energy Commission

$30M

Series E

Oct 2022 · The Rise Fund and TPG Rise Climate Fund

$450M

Series B / venture financing

Jul 2021

Venture financing

Aug 2020

$52M

Series A

Jun 2018 · The Engine

$9M

Seed / initial financing

Feb 2018

$7.4M

People & investors

Leadership

Mateo Jaramillo

Co-Founder and Chief Executive Officer

Ted Wiley

Co-Founder, President and Chief Operating Officer

William Woodford

Co-Founder and Chief Technology Officer

Marco Ferrara

Co-Founder and SVP, Analytics & Business Development

RJ Johnson

Chief Commercial Officer

Tobias Schmieg

Vice President, Product Engineering

Navneet Govil

Chief Financial Officer

Kristen Ilgenstein

Senior Director, Controller and Treasurer

Founders

Yet-Ming Chiang

Co-Founder and Director

Investors

ArcelorMittal

Breakthrough Energy Ventures

California Energy Commission

CPP Investments

Development Bank of Japan

Energy Impact Partners

Franklin Templeton

GE Vernova

GIC

Janus Henderson Investors

TPG Rise Climate Fund

Trinity Capital

Work & culture

Public company materials and employee profiles describe a mission-driven, technically rigorous, collaborative organization focused on commercializing hard-tech energy storage, scaling domestic manufacturing, and improving grid reliability. The company emphasizes humanity, creativity, excellence, continuous improvement, and American manufacturing.

Work style

Onsite

Compensation

Publicly available compensation signals are limited. Exa-indexed employer data reports an overall rating of approximately 3.7/5 and compensation rating of approximately 3.7/5; role-specific salary ranges were not consistently available.

Benefits

Publicly listed career materials emphasize mission-driven work and opportunities across engineering, manufacturing, commercial, and operations teams.

Public job and employer data indicate competitive compensation and benefits, but a complete official benefits schedule was not located.

Employer-rating signals: approximately 3.7/5 overall, with compensation rated approximately 3.7/5 and culture approximately 3.6/5.

Product & market

Pricing

Custom enterprise and project-based pricing; public per-kWh or system pricing was not found.

Differentiators

—Up to 100 hours of discharge duration, substantially longer than conventional four-hour lithium-ion systems.
—Uses abundant iron, water, and air rather than lithium, nickel, cobalt, or other constrained battery materials.
—Designed for multi-day grid resilience and renewable-energy firming.
—U.S.-based manufacturing strategy centered on Form Factory 1 in Weirton, West Virginia.
—Potentially lower long-duration storage cost through inexpensive materials and scalable manufacturing.
—Commercial focus on utility-scale systems rather than consumer batteries.

Technology

Iron-air battery chemistry

Reversible iron oxidation and reduction

100-hour long-duration energy storage

Utility-scale battery energy storage systems

Electrochemical cell engineering

Battery management and controls

Manufacturing automation

Siemens

Microsoft Azure

Snowflake

MATLAB

Docker

Kubernetes

Python

SQL

Jira

Confluence

LabVIEW

AutoCAD

CATIA

Customers

Great River Energy

Xcel Energy

Google, through the Xcel Energy deployment agreement

Crusoe

FuturEnergy Ireland

Dominion Energy

Georgia Power

California Energy Commission

Pacific Gas & Electric

New York and Maine utility customers

Competitors

Eos Energy Enterprises

ESS Inc.

Ambri

Energy Vault

Form Energy alternatives using lithium-ion storage

Antora Energy

Fourth Power

Hydrostor

Primus Power

Rongke Power

Scale & contact

Estimated revenue

$70 million-$80 million annually; Exa-indexed estimate approximately $76.5 million

Estimated monthly visits

28.2K

Traffic estimate as of Jun 2026

Signals & risks

Layoff

Mar 2024

Form Energy reportedly eliminated jobs in an earlier round of cuts, less than a year before another restructuring.

Source

Layoff

Feb 2025

Form Energy confirmed a restructuring affecting fewer than 5% of employees, citing efficiency, prioritization, and financial viability. The company said it continued hiring at its Weirton factory.

Source

Shutdown

May 2025

Form Energy closed its Eighty Four, Pennsylvania facility and transferred approximately 40 employees to Weirton, according to reporting on its manufacturing footprint.

Source

Latest news

Form Energy powers up to ship first batteries from Weirton factory

The Intelligencer · May 2025

Form reported that its first four iron-air battery systems were being built for Great River Energy, with additional orders associated with Dominion Energy, Georgia Power, Xcel Energy, California, New York, and Maine.

Restructuring affecting some employees at Form Factory 1

Weirton Daily Times · Feb 2025

Form confirmed a restructuring affecting fewer than 5% of employees while stating that it was continuing to hire for the Weirton manufacturing facility.

DBJ to invest in Form Energy, Inc.

Development Bank of Japan · Jan 2025

The Development Bank of Japan announced an investment in Form Energy and described the company as a 2017-founded developer and manufacturer of iron-air batteries for multi-day energy storage.

Iron-air battery developer Form Energy raises $405M, announces collaboration with GE Vernova

Utility Dive · Oct 2024

Coverage described the Series F, a GE Vernova collaboration, the Weirton factory expansion, and Form's planned 1.5 MW/150 MWh Great River Energy pilot.

Form Energy raises $405M to speed development of long-awaited 100-hour battery

AP News · Oct 2024

Form Energy announced a $405 million Series F led by T. Rowe Price to accelerate manufacturing in Weirton and research and development of its long-duration iron-air battery.

Jobs and careers at Form Energy

188 jobs at Form Energy

Battery Modeling Engineer II

On-site

Research & Development

Somerville, MA; Somerville, Massachusetts, USA

Today

On-site

Full-time