Form Energy Stock
| Valuation | $2.27B1 |
| Valuation Date | Aug 12, 2026 |
| Implied Valuation | $2.66B |
| Last Price | $19.94 |
| 52-Week High | $19.94 |
| 52-Week Low | $10.38 |
| YTD Return | +91.18% |
| 1-Year Return | +32.93% |
| 3-Year Return | +69.70% |
| Total Funding | $2.01B2 |
| Latest Round Amount | $750M2 |
| Latest Round | Series G |
| Funding Rounds | 9 |
| IPO Status | Expected3 |
| Expected IPO Date | n/a |
| Revenue | n/a |
| Revenue Type | n/a |
| P/S Ratio | n/a |
About Form Energy
Form Energy is a manufacturing company that builds multi-day iron-air battery systems for the electric grid. Its first commercial product stores energy for up to 100 hours using iron, water and air through a reversible rusting process, and is meant to firm renewable power over multi-day stretches when lithium-ion storage is too costly. Form Energy makes money by selling these grid-scale battery systems to utilities and large power users. It manufactures them at Form Factory 1 in Weirton, West Virginia. The company was co-founded in 2017 by Mateo Jaramillo, a former Tesla energy executive, along with MIT materials scientist Yet-Ming Chiang and three other energy-storage veterans.
Invest in Form Energy
Form Energy is a private company, so you can't purchase it with a regular brokerage account. However, its shares are available on Clarity (formerly Hiive).
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News
Could a Donegal battery made of rust be an energy storage winner?
RTÉ Brainstorm examined Form Energy and FuturEnergy Ireland's Ballynahone iron-air battery project in County Donegal, a 1,000 MWh system slated to come online in 2029.
Form Energy delays IPO to 2027; sources cite valuation, soft market
Axios Pro reported that Form Energy is pushing its public listing to 2027 amid weak investor traction, after selecting JPMorgan and Jefferies as lead bookrunners in June. The company has not confirmed...
MIT Technology Review names Form Energy a 2026 climate tech company to watch
MIT Technology Review highlighted Form Energy's iron-air batteries and commercial projects including a 30 GWh storage agreement with Xcel Energy and Google in Minnesota.
Form Energy Announces Closing of $270M Credit Facility
Form Energy closed a $270 million credit facility including a revolving line and a Section 45X tax credit advance facility with an accordion up to $1 billion.
Form Energy Announces Closing of $270M Credit Facility
Form Energy closed a $270 million credit facility including a revolving line and a Section 45X tax-credit advance feature to support manufacturing scale-up at Form Factory 1.
Partnering with Form Energy: America's battery champion for the AI grid
Sequoia announced a $100 million investment in Form Energy after the company's Series G close, citing hyperscale demand for multi-day grid storage.
Form Energy raises $750 million
MIT spinout Form Energy announced $750 million in Series G funding to accelerate manufacturing and deployments of its multi-day iron-air grid batteries.
Form Energy raises $750 million
MIT spinout Form Energy raised $750 million in Series G funding, bringing total equity raised past $2 billion to scale West Virginia manufacturing and commercial iron-air battery deployments.
What’s behind Form Energy’s down round
Latitude Media reports Form Energy’s August 2026 $750 million Series G was done at a $1.75 billion pre-money valuation according to Axios, down from about $3 billion in the 2024 Series F. The company ...
Iron-air US LDES startup Form Energy secures US$750 million Series G financing
Form Energy secured $750 million in Series G financing from T. Rowe Price and new investors including Sequoia Capital and Franklin Templeton to expand multi-day storage deployments.
Form Energy Raises $750M in Series G Funding
The company said the round brings total equity raised above $2 billion and will accelerate its Weirton, West Virginia manufacturing ramp and multi-day storage deployments.
Form Energy lowers valuation in Series G raise
Axios Pro reported the Series G closed at a $1.75 billion pre-money valuation, down from about $3 billion in October 2024, despite growing customer contracts.
Form Energy raises $750M to build more 100-hour batteries for the grid
Form Energy closed a $750 million Series G round led by T. Rowe Price to expand iron-air battery manufacturing in Weirton, West Virginia, as AI data center demand drives long-duration storage investme...
Form Energy raises $750 million for West Virginia battery plant
The Somerville-based company secured $750 million in equity to scale its West Virginia factory, bringing total equity raised above $2 billion as its iron-air battery order backlog quadrupled since the...
Form Energy Secures $750M in Series G Financing to Scale Iron-Air Battery Manufacturing and Accelerate Commercial Deployments
Form Energy announced a $750 million Series G round led by T. Rowe Price, bringing total equity raised to over $2 billion. Proceeds will scale Weirton manufacturing and advance commercial iron-air dep...
Energy Startup Raises $750 Million for Rust-Powered Batteries
The Wall Street Journal reported Form Energy raised $750 million for its iron-air batteries that store electricity for days using rust chemistry.
Form Energy signs 12GWh agreement to supply multi-day iron-air batteries to new US AI data centres
Form Energy agreed to supply 12 gigawatt-hours of iron-air batteries to Crusoe for AI data center projects starting in 2027, announced at CERAWeek in March 2026.
Form Energy & Crusoe Announce Agreement for 12 Gigawatt-Hours of Iron-Air Batteries for AI Data Centers
Form Energy and Crusoe announced a strategic capacity agreement for 12 GWh of multi-day iron-air storage to support AI data centers starting in 2027, manufactured in Weirton, West Virginia.
Form Energy Sells Batteries to Crusoe to Power New Data Centers
Bloomberg reported Form Energy agreed to deliver 12 gigawatt-hours of iron-air batteries to Crusoe for AI data center power needs, after a separate 30 GWh deal with Xcel Energy for a Google site.
Form Energy and FuturEnergy Ireland Announce Agreement To Deploy First Iron-Air Battery Storage Project In Ireland
Form Energy and FuturEnergy Ireland agreed to deploy a 10 MW / 1,000 MWh iron-air system in northwest Ireland, Form's first announced international project, expected online in 2029.
Is Form ready for the public market?
CEO Mateo Jaramillo told Latitude Media Form Energy has no strict IPO timeline but a listing is on the horizon, with audits and financial controls underway so the company can move if public markets ar...
Google paid startup Form Energy $1B for its massive 100-hour battery
Google is powering a new Minnesota data center with a 300 MW / 30 GWh Form Energy iron-air battery system, reportedly paying about $1 billion for the multi-day storage project.
Gigantic Form Energy battery to power Google data center in Minnesota
Xcel Energy and Form Energy agreed to build a 30 gigawatt-hour iron-air battery plant to deliver round-the-clock clean power to a Google data center in Minnesota, with deliveries expected from 2028.
Xcel Energy to power new Google data center in Minnesota
Xcel Energy said a new Google data center in Pine Island, Minnesota will include a 300 MW / 30 GWh Form Energy iron-air battery system, described as the largest battery project by energy capacity anno...
Trinity Capital Inc. Provides $50 Million in Equipment Financing to Form Energy
PHOENIX , Dec. 16, 2024 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of diversified financial solutions to growth-oriented companies, today announced the commitm...
Form Energy's Breakthrough Iron-Air Battery Technology Sets a New Benchmark for Safety in Energy Storage Systems
Form Energy said its iron-air battery system completed UL9540A safety testing with no flame or thermal event propagation, supporting denser deployments without fireproof barriers.
Form Energy Secures $405M in Series F Financing to Expand Iron-Air Battery Business and Operations
Form Energy closed a $405 million Series F led by T. Rowe Price with GE Vernova joining, bringing total funds raised to over $1.2 billion to expand Weirton manufacturing and commercial deployments.
Department of Energy Selects Form Energy for $150M to Build Out West Virginia Battery Factory
The U.S. Department of Energy selected Form Energy to negotiate up to $150 million to expand Form Factory 1 battery manufacturing in Weirton, West Virginia.
Great River Energy and Form Energy break ground on first-of-its-kind multi-day energy storage project
Great River Energy and Form Energy broke ground on a 1.5 MW / 150 MWh Cambridge, Minnesota pilot, the first commercial deployment of Form's iron-air multi-day battery technology.
Form Energy Partners with Xcel Energy on Two Multi-day Energy Storage Projects
BOSTON--(BUSINESS WIRE)--Form Energy, Inc., an American technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems, announced today that it has...
ArcelorMittal makes further investment in Form Energy via XCarb® Innovation fund
4 October 202 2 , 1 6 : 30 CET
ArcelorMittal invests $25 million in Form Energy
Agreement concludes second investment in ArcelorMittal's XCarb™ innovation fund